Tax Bowl members whose firm was acquired by a PE group can you spell out the pros and cons I know the cons might outweigh the pros but the situation we are all in right now is all mid size firms will be PE backed so there is no running to another firm since in a couple of years all will be PE backed

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I can’t think of any pros at the non- partner level.

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Lots of changes and hard to identify any positive ones. You’ll still recognize some co workers after two years but everything else will be different and not in a good way.

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Pro- if you want to be a partner and eventually become a partner, you will most likely not have to buy in. Our partner loans were paid off. The other pro is you will likely go through sales/recapitalization events over the course of the years. Meaning payouts instead of waiting till retirement for a payout. Employee side pros would be supposed more money to invest in tech make our jobs easier.

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What tech are they rolling out at BT? We still don’t have billing systems synced lol

High performers at manager and above levels are getting equity comp

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Not true in most cases.

It depends on the PE firm, you might get one time salary adjustment.

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I left a firm when it was PE acquired.

Simplified tax reporting for partners ... No k-1s no states, no buy in...More PMDs, allegedly

Cons, no long term retirement benefits, cut throat evaluations with pendulum earnings, no way in leadership, top cares less about PMDs. Harder to get equity for these "lucrative" transactions.

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I think it went okay

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