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McKinsey & Company I received an offer from McKinsey & Company in 2021 and I’ll be starting later this year after graduation. Obviously because of the pandemic, inflation is slowly trending upwards. Has anyone asked for a base salary increase before even starting the job? Any advice on how to approach this?
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Couple potential reasons:
- If the seller wants to keep the transaction under wraps from employees, the longer the transaction is outstanding the more risk there is that employees find out and jump ship, etc.
- Transaction work is not value add to the sellers core operations so they want to limit the time their employees have to work on it. Even though they are selling they still need to keep their EBITDA at level
- If the transaction takes too long to close, buyer may request a refresh diligence which just ends up costing more for both parties
- Firms who actually do the diligence (accounting, legal, etc) have an incentive to finish projects ASAP so that they can recognize the revenue ASAP
Exclusivity from an LOI is not an arbitrary deadline lol. I agree that sometimes expectations are ridiculous, but there are so many different parties outside of your own team working on a deal that you want to try your best not to be the party holding things up.
Mentor
I have news for you - the date set in the LOI is completely arbitrary
Exclusivity period could be as long as they want to negotiate it to be
Mentor
When I buy something, I want it yesterday.
Because the people in charge (ie senior execs, etc) are gonna cash tf out. Who cares about working long hours if you know you’re getting a 2m payday after a month or two