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After years of experience, no firm is better than another firm in the MM. However, the differentiator is the team you would join. Regional team firms differ widely and can make or break your experience.
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Usually it’s not 5 active deals, they are in between life cycles. But yeah the scope does vary from deal to deal
Def more expected than what you mentioned.
Ask about revenue range of the typical Targets. That will tell you a lot