What should I expect with a PE acquisition?
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If my recon doesn't add up, can I blame Russia?
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An increased emphasis on utilization and quarterly layoffs for those below target. Do everything you can to stay chargeable.
sheesh, hope you make it out the other end, mate. Sounds like a miserable experience with the GT and Moss Adams merger. PE is crap.
Elimination of the “extras” that created a culture you enjoyed.
Unemployment
More work, less pay
Hi fellow PE victim 😩
Selling Partners made out great
Everyone else is screwed
Your job soon outsourced to AI/offshore
Meet your new boss
24 yr old PE junior staffer
No knowledge of tax business
Your boss reports to her every Friday
More focus on hours and less on quality of work.
Esp if you want a family.
To be fired
Higher targets to hit, lower raise / bonus with lip service from leadership that the team is highly valued and that things are moving in the right direction.
If you can’t sell, then you won’t be rewarded as much.
Start working on this now as an associate. Not actual selling, but start learning how to identify prospects and what you would say to them.
Lower pay raises and much more work with less people to increase chargeable hours. Worse IT and admin resources and more off-shoring to India.
I'm in it right now for a private corporation that use to be publicly traded. Based solely on my experience, expect deep cuts 6 months after the acquisition, followed by quarterly cuts. Cutthroat performance ratings for retained individuals including cutting and replacing those on the bottom of the rating scale. I feel they lead by fear. Because of the deep personnel cuts, there is usually opportunity to do other things that you likely wouldn't get other places. They will gladly let you work extra overtime to gain that experience that you can look like a rockstar to them, then add the experience to your resume and use it to land your next role. Just remember, there is no allegiance to you whatsoever and you can be part of the cuts at any moment. It's very personal deciding whether the more positive scenario is getting cut or staying on. There are pluses and minuses to both.
If you’re an associate, probably not much
Chief
So associates don’t ever plan to become managers? Different story if they are there to learn and move in a few years but thats typically not the case. They come in with that goal but end up leaving earlier than originally expected due to shitty work environment in this industry. PE backed firms just accelerate that shitty environment, leading to ppl leaving even earlier
So much to look forward too
Just be ready for a shift in pace and priorities. Be ready for changes. The focus shifts hard to financial performance (EBITDA, cash flow), tighter reporting, and operational efficiency. Leadership changes can happen.
Its possible no matter how good you are, you can be eliminated. If that occurs, ensure the layoff is due to workforce reduction, and negotiate your severance package. Remember its not your fault, you did nothing wrong, It is the higher-up's catering to investors needs. But learn as much as you can so your well able for the next level opportunity. I believe changing the perspective and mindset is key which helps to be better prepared. Remember Fail to plan, plan to fail.
To have your job outsourced overseas within 4 months of PE firm coming aboard. A new boss who's 25 years younger who is a knowitall, has has 14 positions in 21 years, and who is gunning to get you out the door to make himself look good. Glad I'm not involved the new toxic environment anymore. In Month #4 and looking for a suitable, responsible position in a small business who will appreciate my work ethic and loyalty and compensate me accordingly.
Lower salary increases annually, but a potentially higher bonus.
Dangle that carrot, spoken like a true PE veteran.. LOL