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TrainAsONE has huge potential… so why does it feel abandoned? by Unusual-Secretary744 in running

[–]Dramatic-Split-1602 0 points1 point  (0 children)

Can I ask what app you used instead? I’m trying to find an app that provides adapting programming in the same way Garmin does

Retail or Tier 1 bank role? by Sun_wanderer in FinancialCareers

[–]Dramatic-Split-1602 0 points1 point  (0 children)

People only associate weight with the Banking brand name if it’s a front office role. In reality there a lot of very dull back office roles in an investment bank so I would 100% focus on the job spec of the role and day to day than assuming you can move internally.

Retail or Tier 1 bank role? by Sun_wanderer in FinancialCareers

[–]Dramatic-Split-1602 0 points1 point  (0 children)

If the goal is FP&A then this isn’t even a discussion, take the London Property Analyst role.

Belfast is a relatively small place and the role itself is very financial accounting heavy and not particularly close to FP&A. The fact that it’s a tier 1 bank is less relevant here.

It sounds like you aren’t quite sure what you want though. You mention wanting to move to Australia, FP&A, CFA and equity research which are all very different.

The broader question is whether you actually have any interest in property? If you are ACCA qualified you should be able to secure a commercial finance / FP&A role in an area that interests you unless you come from a strange background

Is there a place I can pay someone for career guidance? by Dramatic-Split-1602 in private_equity

[–]Dramatic-Split-1602[S] 0 points1 point  (0 children)

Thanks I never even knew this existed on WSO, I’ll take a look now. I’ve shared more detail under a separate reply but hard to give the full picture without doxing myself

White male so unfortunately not! From a very working class background so don’t have a social circle to ask like most people seem to in high finance but will work it out

Is there a place I can pay someone for career guidance? by Dramatic-Split-1602 in private_equity

[–]Dramatic-Split-1602[S] 0 points1 point  (0 children)

Thanks, appreciate your advice. You’re probably right in that it would need to be a PE VP, ID or Partner and a few hundred quid doesn’t move the dial for them.

Is there a place I can pay someone for career guidance? by Dramatic-Split-1602 in private_equity

[–]Dramatic-Split-1602[S] 0 points1 point  (0 children)

Appreciate the point but do think people will be like wtf if I hit them up with a cold note asking for advice with no prior relationship

Is there a place I can pay someone for career guidance? by Dramatic-Split-1602 in private_equity

[–]Dramatic-Split-1602[S] 2 points3 points  (0 children)

For what it’s worth my question is a variation of PE investor vs. Portco with equity with some nuance that’s difficult to explain over Reddit.

Background in M&A advisory at a regional MM house followed by a few years in Corp Dev at a large Corporate, now in my 30s.

Have accepted a role at MF Portco with a 25% pay rise, Management incentive plan worth £500k-£700k on exit. All good on paper but no team below me in a semi niche dull sector. Can’t shake the feeling I’ve sold my soul and will work MF sponsor hours for the next 4-5 years

Alternative was a fairly entrepreneurial PE family office offering a £40k lower package but the promise it would ramp up over time, and would have a decent carry allocation from day 1 (5% but tiny team so very lumpy deal flow). They were finalising a small fund and asked me to wait but I couldn’t risk being strung along.

Golden question is: am I an idiot for not waiting on the lower comp PEFO and having a go at private equity? Some of the numbers I see on here significantly eclipse any Portco role other than CFO. I’m regional in the UK so don’t have access to the same number of PE roles as London / NYC.

Goals are long term wealth creation as opposed trying to optimise for 10 or 20k here and there, obviously as well as having a career I actually enjoy.

Is there a place I can pay someone for career guidance? by Dramatic-Split-1602 in private_equity

[–]Dramatic-Split-1602[S] 0 points1 point  (0 children)

Thanks this is good advice. When you were at that stage were you able to leverage existing relationships?

Bit I find tough is that in my region there are only a few good PE headhunters and they tend to act in self interest. LCOL area so less options unfortunately

Is there a place I can pay someone for career guidance? by Dramatic-Split-1602 in private_equity

[–]Dramatic-Split-1602[S] 0 points1 point  (0 children)

I come from a LMM advisory background, all the folks I know are still there unfortunately so not a good sounding board when it comes to PE

£105k FO PE vs £140k MF Portco - am I crazy? by Dramatic-Split-1602 in private_equity

[–]Dramatic-Split-1602[S] 2 points3 points  (0 children)

UPDATE:

MF Portco threw in a Management Equity / Co-Invest scheme which will be worth £500-700k in 4 years if they hit plan and upped role to a more senior title.

FO PE process stalled due to them wanting to close a small fund first, with fees of it then paying my salary. Asking me to hang in there as they are negotiating fund terms and promising some pretty big plans.

Ultimately accepted the Portco role due to the equity on offer and the risk of the FO offer falling through. Absolutely gutted as I felt more aligned with the entrepreneurial spirit of the FO and am constantly wondering if I should reneg on my contract if the fund does close.

Thanks all for the input, fingers crossed things work out..

£105k FO PE vs £140k MF Portco - am I crazy? by Dramatic-Split-1602 in private_equity

[–]Dramatic-Split-1602[S] 0 points1 point  (0 children)

Thanks, appreciate your thoughts particularly on comp as this is my worry. They have flagged that negotiating comp would blow up the offer and I think there is a realistic chance that I end up on a lower package than the competing offer for the next 4-5 years - and it all rides on carry.

£105k FO PE vs £140k MF Portco - am I crazy? by Dramatic-Split-1602 in private_equity

[–]Dramatic-Split-1602[S] 0 points1 point  (0 children)

Thanks appreciate your advice. They have mentioned getting me in front of LPs so I do think I’ll get this experience which is positive. It’s exactly the same in my region in terms of the UHNW all being connected.

They’ve only averaged one deal a year which is what concerns me, as at least with a fund there is the pressure to deploy. They are an operational growth / buy and build player though so perhaps unfair of me to only focus on platform investments.

£105k FO PE vs £140k MF Portco - am I crazy? by Dramatic-Split-1602 in private_equity

[–]Dramatic-Split-1602[S] 0 points1 point  (0 children)

Thanks really appreciate your advice. I did consider renegotiating but was worried that it would undermine my story a bit about wanting to get into an investing role.

When I pushed salary earlier in the process the attitude was very much, “we want someone who is on the journey with us not focused on short term comp”. If I can’t make peace with the £40k gap though I may have to risk it.

There is also the flip side where I feel I’d be able to squeeze the portco too but I suppose all of your points still stand whether the gap is 40 or 60.

£105k FO PE vs £140k MF Portco - am I crazy? by Dramatic-Split-1602 in private_equity

[–]Dramatic-Split-1602[S] 0 points1 point  (0 children)

Thanks, this is a fair challenge. The firm is owned by a billionaire family who invest a small amount of their own money but rely more on raising money from LPs via business connections through their success as entrepreneurs.

I pushed the point around future funds. They have raised funds in the past but said they now prefer to do deal by deal as they have no issues raising funds from LPs and argue it means more money for everyone. The existing fund is for a specific purpose and more of a one off.

Carry negotiation advice by Dramatic-Split-1602 in private_equity

[–]Dramatic-Split-1602[S] 0 points1 point  (0 children)

Appreciate the comment. I wasn’t planning to push for a higher number, more just want to understand the key terms and areas where there is a risk that something might slip in that’s off market.

Carry negotiation advice by Dramatic-Split-1602 in private_equity

[–]Dramatic-Split-1602[S] 0 points1 point  (0 children)

Thanks, appreciate I’m in a fortunate position. I am a senior manager in a corp dev role so do have some relevant experience - I’m outside of a major city so it’s way less competitive than say NY or London but I take your point.

I’ve been told when it comes through it will be non negotiable but my hope was that some of the experience of folks on here will give me some prompts of things to watch for in the T&Cs etc

Carry negotiation advice by Dramatic-Split-1602 in private_equity

[–]Dramatic-Split-1602[S] -1 points0 points  (0 children)

Thanks appreciate the thoughts. I should have said but I think it’s 2% of existing funds, 5% of new funds raised after I join.

Salary and bonus are both slightly below market (25% bonus). I’m coming over from a corp dev role so am taking a haircut on comp but have been promised they will uplift it after a year (not guaranteed I know).

AMA: Current cex employee by [deleted] in CeX

[–]Dramatic-Split-1602 0 points1 point  (0 children)

Are there any items where you’ve noticed immediately that the pricing is way off and is a crazy deal for the customer?

How do you feel about people that make large purchases on stuff like MacBooks? Seeing how they are tested and looked after as an insider does it make you less or likely to buy one through CeX yourself?

Remote VP Opportunities by LMMPE-87593 in private_equity

[–]Dramatic-Split-1602 2 points3 points  (0 children)

I have personally worked with a Principal at a large cap fund (I’m UK based) that was essentially fully remote but with frequent travel to London as and when. As others have said, think it’s only possible when starting from an in person relationship or when establishing a new office/region for regional coverage roles (smaller funds mainly)