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Many who repatriate are lured by a vibrant startup scene in India that is drawing unprecedented capital from venture and private equity firms and is buoyed by an effervescent market for stocks. But they are also disenchanted with what they perceive as America’s bleak and hopeless immigration landscape, where the wait times for green cards are tortuously long, and the limits on launching startups for newcomers are highly restrictive.
https://www.theinformation.com/articles/the-great-immigrant-resignation-fed-up-indian-tech-workers-ditch-the-american-dream
Sweetest company benefit?
Hi Fishes,
How's the hike % ?
Can’t wait for this year’s DTS. It’ll be EPIC
While we’re on the topic of teacher disrespect: https://forward.com/life/162899/what-s-with-all-the-teacher-hate/?gamp “Teachers had opted out of the capitalist game; they weren’t in this world for money. There could be only one reason for that: they were losers. They were dimwitted, unambitious, complacent, unimaginative, and risk-averse. They were middle class.”
What are the good accounts at Grey NY?
Best protein shake deal you came across today ?
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is FDD going to start hiring again?
Best exit ops for B4 FDD M/SM’s?
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Mentor
Well this is an interesting post, but shouldn’t you be more worried about retention of your experienced employees vs. getting more new hires? Experienced FDD talent are running for the door at the moment , and there is a pretty good reason for that.
As the OP states not all FDD teams are experiencing turnover. We have had people leave for great opportunities on great terms. No max exodus has occurred. We also have hired some great people who are enjoying the work and continue to tell me they are learning a lot.
FDD is all about getting accelerated experienced to allow you to expand your career faster. You’ll become a better professional and problem solver. We don’t expect everyone to stay forever. We promise good experience, at a faster rate than some other practices, and that’s what people get.
Nothing in your long term career will be easy. Even if you start your own company, to be successful, you will be working HARD. If you’re looking for an easy route FDD is not for you. But if you want to be challenged and appreciate a fast pace ever changing environment, you will very likely thrive.
I am in FDD and I am curious to hear about your model. I am relatively new and I am still not use to what “normal” is (obviously it depends on firm, sector, clients, etc.)...What would you consider normal WLB in the group now and in the next 12 months. I (and those around me) are consistently working multiple deals with little to no WLB (e.g., working from 8am - midnight Mon-Thurs, late nights on Friday w/ weekend work every weekend including holidays). I am a senior FYI, but this also seems applicable for all my Managers/Sr. Managers.
So you’ve been literally working at a minimum say like 60 hours every week since the fall? Do you ever get breaks between deals or get to use PTO? I did that once in audit for 6 months straight and really wanna avoid that lol
Community Builder
I’m a senior with 2 years of FDD experience. Just went through recruiting to pick up some seniors under me. My 2c.
1. Audit has significantly burnt people out this year. A lot of candidates are not interested in exiting audit for something equally demanding.
2. The next few classes are the last of millennials, starting into gen Z. They care more about WLB and freedom than prior generations
^This - Part of this younger group. I think that WFH and lack of social interaction, that wouldve been there in office, created a massive focus on WLB and freedom during WFH to be able to achieve the social interaction (with friends, family, co-workers) that we're missing. Easier to accept hating life with others vs with my wall.
Does FDD ever take tax folks at senior level? I've only seen audit move over.
Same here
Thanks for the question. Yes on A1... if there’s passion to learn, experience is secondary. And I appreciate the concern over Deals cycles and layoffs but this risk is almost nil given how under-staffed all Deals practices are... and it can be easily hedged if you choose the right sector specialty. DM me if you think you’d like to learn more.
Ari, my man
Why does each firm make it so difficult to get a rotation/transfer into TAS? Personally and anecdotally speaking, it is easier to make the move externally to get into this kind of role because of internal red tape.
This is an issue we continue to try and solve. Not perfect by any means. If you push hard enough, meet people in FDD, reach them directly, express interest, have your partners reach FDD partners directly, you will eventually make it. It’s about how much you really want it. Don’t sit in the sidelines and ask why it didn’t happen. Make it happen.
Bowl Leader
Have been in FDD ~ 2 years now and can tell you I will certainly be leaving 🔜
For?
Would you consider taking in Audit A1? How secure is a FDD job compare to audit job during recessions or when the deal market slows down ?
Mentor
Share the story
I’m a S2 in audit, have limited experience in FDD, but know it’s more exciting than audit but worried that the 60-80 weeks in audit will be 70-90 in FDD
Not been the case for me tho I’m new - most people get sidelined for a few months at least when they join
I networked a ton to get into it, and right when I got the offer (internal transfer, deloitte) I declined. My audit summers are very chill and the honestly my busy season isn’t never unbearable. The thought of being on call for a 1-2 month busy season and never being able to make plans would make me an anxious wreck. Sure the work is more interesting, but the 10k annual bump (only $400 more a month) is not worth being worried on call all the time.
PwC3 What is this downtime you speak of? I was unstaffed for 1.5 months during peak Covid lockdown, and otherwise haven’t been unstaffed for more than a day or two immediately after a deal dying in 3 years.
D4 Is spot on. No vacation is safe, no weekend is safe, no dinner plan is safe in this group. That’s not to say you won’t ever have those things, it’s just that the deal takes priority over all of them if need be.
Very curious on this post. What qualifies as a good candidate? Currently an A1 in tax and looking to pivot away from it. It is not as exciting as I had hoped it to be.
Well not sure about this new model. OP settings don’t allow for dm’s, and he hasn’t responded to any of the questions. Seems like the exact opposite of the partner culture I would want (and not one try to instill). He is probably too busy working his team until 2 am before looking at Fb
Share the new model
Same as above. Been in audit for 11 months and looking to move over to FDD.
I am soon to be A2 and interested in applying FDD roles. Would it be possible to join as an associate before hitting senior level? (Had 1 busy season in Audit)
Yes, we changed that recently. Now take associate transfers. Talk to HR.
Your DMs say you aren't available.
Here's my question; of the other firms I've applied to, they essentially tell me they're only hiring at the Associate/Senior level, then they try to poach me to be an audit manager... But I'm not much interested in Audit...
About to finish up my first year in audit and interested in transferring. Can we connect to chat more?
Hi original author (Partner), I have a few questions that I would love to get your opinion and advice on for a career in FDD. I tried to DM you but noticed your DM’s are unavailable. By any chance, can you DM me to start the conversation?
I would definitely be interested in learning more about FDD. I’d want to chat more but it says your chat is not available. Please don’t hesitate to reach out to me if you see this it would be greatly appreciated.