Those of you who are manager and up at firms with PE backing, are you being pushed a lot harder after the investment? Any advice for someone considering going to a PE backed firm? I hear a lot of negativity about them and have my own reservations, but wonder if some of the complains are simply related to the inherent nature of public accounting in general, not PE.

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Unless you love sales I'd stay away. That's the only thing they care about now

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They are also very focused on charge hours and lower comps and bonuses to show better profitability. Eventually you will do more for less money.

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I’d say my work load has doubled since PE. I’m constantly frazzled and putting out fires. This isn’t 100% PE’s fault, we’ve also had several US employees (associates and seniors) leave, and our leadership refuses to replace them. They insist we use India instead. There are just some things you cannot easily pass off to India, especially new client work, which I have a lot of. I have 3 kids and a husband that frequently travels for work. The $160k and laughable “bonuses” aren’t worth the squeeze at this point in my life. The leadership on my team is male-dominated and they lack some of the “soft skills” that make things fun. Since I’m a woman, they are constantly asking me to plan things: silly ways to make calls fun, happy hours, little games, etc. I used to love doing unique/silly things to break up the workday for my colleagues, but now on top of all of the regular work, the admin work, the training (I have 6 very “green” coachees - mostly paraprofessionals. Why do I have to coach a paraprofessional or a 75 year old man that is sick as a dog and should be out on leave?!?!?!), I just have no will left to put any effort in the soft skills or intangible things that break up the workday. Our partners and MDs no longer have any say in our welfare. For example, my boss used to get a “kitty” at bonus time, that he could allocate more $$ to certain people who did especially well that year, but wasn’t necessarily recognized properly by the firm, now that is gone and the money here is laughable.

Out of respect for my team, I will stick it out this busy season, but then I’m gone. I’d gladly take a pay cut to save myself a portion of the aggravation here.

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Sounds very familiar.

It’s nothing more than an average manager or senior manager will be, but more focus on profitability and metrics. As a manager you should be more focused on those aspects of the job anyway. If that means being a BD person great. If it means doing effective billing and pushing for payment quick plus culling bad clients also good. We use our India team for lower fee clients to get it closer to a good realization.

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stay away

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