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I recently joined TCS but I was moved into very different project which was told during hiring. Also they told me for joining incentive but later after 65 days of joining they didn't give saying your business aproval got rejected. I really want to be with TCS but due to project dissatisfaction, I am looking for different job. I am not sure if I can leave the organisation soo soon(4 months) and it should not effect my carrier.
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OP, would you mind sharing your background? I.e. firm tier and group? If not comfortable sharing, NBD.
Would be responsible for setting up their merger integration team and running point. $250K base + bonus, carry included but still working out carry details. Thoughts on this being a good exit?
1st year Manager with background in M&A + Innovation. Mildly interesting company not in a space I’ve dealt with.. believe the PE has done enough diligence to know it’s going to be a good exit. Small acquisitions before and handily poorly - this role would be a big lift aligning the leaders. Opportunity to stay with company, maybe fund, or other portfolio company after.
Did the fund specifically mention there is a chance to join them upon exit? If so, could be interesting if you like portfolio opps but that would be the first time I’ve heard of something like that. If another portfolio company afterwards is an option, are there other interesting companies in the same city you would consider? If so, based on the little information I have, the role sounds very neat. I spent a year at a PortCo in a similar role and learned way more than I ever did in consulting but ultimately knew I didn’t want to stay permanently.
Sorry to hijack the thread, OP can you share how you worked into this opportunity? Looking for similar.
I’ve been contacted by multiple head hunters on behalf of PE funds or directly from funds for opportunities in my city. I honestly think it’s the key words in my LinkedIn profile and industries I’ve selected in my LI profile. I have a premium account and you can share much of this information to recruiters.
Depends. What’s your background? Years of experience? Is this a cool company? Is it the industry you want to be aligned to? What happens after exit? How has the company historically handled acquisitions?
Handled*
They said > fund is a path which doesn’t happen as frequent, but can happen (obviously dependent on performance). I don’t think it’s a company I’d want to stay at long term and they don’t have any other companies in my city. My gut telling me I should ride out the PE group I’m in and try to exit into a smaller / MM fund in the city I’m in.
Carry is earned at the fund level, not at the portco or even firm level. So if you're not working for the fund you won't see carry (maybe they're talking about some other perf bonus and calling it carry?)
I did the exact job you mention for 4 yrs - it was great and had all the pros of consulting plus a chance to get involved operationally. The headaches are similar to exiting to any industry role plus any addtl dependent on how much pressure exerted by the PE ownership.
I'd make sure I knew who I was working for - least attractive is the portco as your role is situationally dependent: if the PE exits you might get stuck there or worse, there could be a mgmt change and you get tossed out as part of the old regime. Similarly, who are you reporting to: If the fund is hiring you but you report functionally to mgmt there could be some conflicts of interest and you will need to navigate those politics. Just my $.02
I think you’re right on the carry side. It’s just equity and they called it carry. This role is definitely hired by the fund but paid by the portco and report to the port co. Seems sticky to me with conflict of interest. Also, don’t like the idea of having to potentially jump ship after. The only way this would be worth it is if the equity is large enough, and I don’t know that yet.