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Old 03-31-2019, 05:44 PM
 
Location: Aurora Denveralis
8,654 posts, read 3,060,439 times
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Quote:
Originally Posted by tonym9428 View Post
any ideas on this...
You have given us next to no information or context.

Were you laid off by a PE buyout? Is your offer to go work for a PE-owned firm? Is $130k good compensation for your field/experience? Can you match it (or equivalent) elsewhere?

In general, PE-owned companies suck big rocks and have the lifespan of a mayfly. This being known and having exhausted or honked off all local talent, they overpay for relocated workers, knowing they are only going to pay that inflated wage for some short period before further reductions or complete liquidation.

Is any of that really news to you?
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Old 03-31-2019, 06:17 PM
 
Location: Pittsford, NY
524 posts, read 627,129 times
Reputation: 582
Quote:
Originally Posted by tonym9428 View Post
any ideas on this...
If I were going to work for Warren Buffet/Berkshire I might want more than you mention but at least it is a good place to work and so maybe it is a fit.

If it is a company gutting companies out of all cash and assets, it may not be of interest to me to both move and do that kind of work anyway, so no.

If it is a small startup complete, or just a startup/specialty financing company, and they are nice maybe it sounds good. But still isn't a ton to move and if you aren't already sure, and it sounds like you are not, well maybe not. Look they used to do it all privately completely when they were real small, we had multi-millions invested in setting up production and development systems and the investors were great or not as they toured and watched what we setup in facilities and systems. Hard to tell what you mean exactly. Some of these super private things work real well, some do not. Many fail because the focus is wrong. I saw really bad setups in ideas and financing of the ideas, like 400 people already working but the focus on the whole thing was never geared to work right because they were not practical people basically. I turned down a huge contract worth tons once because the company had really bad ideas and I knew it was a flop, and months later they did flop. Why bother with flops if you see it.

We really don't know much about the type of company or level of company we are talking about, they run everything from something you may want to work for and do it all, to ones you don't want to work for and aren't so nice. We don't know your role and if it is a fit for the work so hard to tell.
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Old 03-31-2019, 06:23 PM
 
1,735 posts, read 1,259,170 times
Reputation: 1523
So the company that offered me the role is owned by a PE firm.
They are a medium sized (2000) company in the healthcare space
The job is as a data scientist
I've spent my entire career in tech working as a statistician and data scientist
130K for a data scientist in silicon valley is average....130K in phoenix is way above average
I'm 30, so early in my career and making 130K for 2 or 3 years would be great

Last edited by tonym9428; 03-31-2019 at 06:34 PM..
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Old 03-31-2019, 06:30 PM
 
3,593 posts, read 1,388,880 times
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take the 130 and keep networking.
your 2-3 years horizon is understandable.
as my manager told me many moons ago:
"there is a bigger, better deal waiting."
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Old 03-31-2019, 06:37 PM
 
Location: Pittsford, NY
524 posts, read 627,129 times
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Quote:
Originally Posted by tonym9428 View Post
So the company that offered me the role is owned by a PE firm.
They are a medium sized (2000) company in the healthcare space
The job is as a data scientist

I know two people working in similar roles, similar sounding companies. They like it lots. It is real hot right now. I'd say it sounds pretty good right now with what is out there.
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Old 03-31-2019, 06:53 PM
 
13,678 posts, read 13,611,373 times
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Quote:
Originally Posted by Quietude View Post
Work, no, but observe fairly closely from an experienced viewpoint, yes.

The Denver Post was once one of the midwest's pillar newspapers, one that contributed an essential western viewpoint to the stronger "mid" continuum.

It was bought by an equity firm and fairly rapidly stripped down to a largish blogging operation that still puts out a flimsy daily rag. It's run purely on a profit-driven model based almost entirely on leveraging internet resources for both reporting and distribution. To say it's a shell of its former self is grandiose.

AFAIK, every staffer of quality has left, and it's run (for certain values of) by a relatively green, office-bound blogging staff.

That's PE ownership.
Yep. It's a travesty. When I moved here, I was excited there was an active local paper, but then it just degenerated rapidly.
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Old 03-31-2019, 06:56 PM
 
13,678 posts, read 13,611,373 times
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We got venture capital at my company when it was in startup phase. It was touch and go for a while, even with the infusion of cash. When they investors decided they wanted to profit from their investment, they sold the company off in parts, which actually was a very good thing for the workers. We all kept our jobs at the new companies and had more resources to use. However, we also had a lot of uncertainty for a long time, and when it was announced the company was being sold in chunks, none of us knew if we'd have jobs in a week, ya know? But we're all in a much better situation a few years later.
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Old 03-31-2019, 06:57 PM
 
4,948 posts, read 1,240,138 times
Reputation: 3822
Quote:
Originally Posted by tonym9428 View Post
So the company that offered me the role is owned by a PE firm.
They are a medium sized (2000) company in the healthcare space
The job is as a data scientist
I've spent my entire career in tech working as a statistician and data scientist
130K for a data scientist in silicon valley is average....130K in phoenix is way above average
I'm 30, so early in my career and making 130K for 2 or 3 years would be great
Does it involve moving? Do you want to move? I would say as young as you are, you have the luxury of trying things out to see if they fit. Also, I am guessing that position wouldn't necessarily be one that would go on the chopping block in the event of a buyout. I think the positions that tend to get axed are high level positions because companies have duplication and bring in their own people.


Although we weren't a private equity firm, my firm (a small private money manager) got bought out by a big German bank and the culture completely changed and not for the better. I think ANY time a company gets bought out, the employees are not happy with the results. People get used to their routine and don't really enjoy working for a group of new people who don't like to hear "But that's they way we have ALWAYS done it'. Plus, I find HR people constantly need to justify their existence. The latest example was open concept work spaces, which most people appear to hate. Big $$ went into these remodels.
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Old 03-31-2019, 08:43 PM
 
6,369 posts, read 3,484,004 times
Reputation: 5768
I’ve done a carveout and taken a business to PE. In my experience it was a good thing as the previous owner made little investment.

However, note that a PE generally borrows the money to make the purchase (could be through a fund that pays dividends, credit line or whatever.)

This means the PE owned business has to reduce costs and/or increase revenues to account for the debt servicing added cost.

The PE also has an investment thesis going in - do they buy and hold? Do a lot of add-on transactions and then flip the company in 3 years? Different scenarios will yield different results for the acquired company.

The worst scenario is when bottom feeder PEs buy a company - they slash people and costs and then milk the profits until they sell the carcass to another PE. Those are painful for the acquired staff.
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Old 04-01-2019, 11:56 AM
 
Location: Raleigh
8,327 posts, read 6,176,580 times
Reputation: 11632
It depends on the company. I wouldn't be inherently scared away by the ownership structure of it.

A company that's closely, privately held has its own drawbacks and concerns and its own positives.

A company that's publicly traded has its own drawbacks and concerns and its own upsides.

The same is true of one that's owned by a private equity company. Sure, some are leeches of the worst variety, but plenty of others are there to do a job.

In many ways, I'd not be super concerned about a Private Equity owned company compared to a publicly traded one, unless it seems like a company where the money is going to be made chopping it up and selling it.
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