Victus Search, Multi-jurisdictional Recruitment Partner for Financial Services 1200 627

Date

8 February 2024

Category

At Victus Search, we have extensive experience providing recruitment services to companies with a variety of ownership structures, and we understand the advantages each model offers candidates. 

If you’re looking for your next professional services role in sectors such as capital markets, fund services, trust and corporate or related fields, this guide is designed to assist you in choosing the right path. While every role is different — we’re not claiming our analysis applies to every firm — it should help identify the type of employer most likely to align with your expectations, experience and career priorities. 

Expectations

PE-backed firms have a reputation for being high-pressure, intense environments where the pace is demanding and expectations are high. While that’s true in many cases, it’s by no means universal — and there are independent firms out there that expect just as much from their teams. 

However, in our experience, candidates who thrive under pressure and are happy working in a highly competitive environment are better suited to the PE space. For professionals who prefer a less pressurised  — and often lower turnover — business climate within which they can manage their own pace and priorities, independently owned firms may offer a better match.

Compensation

The received wisdom is that candidates looking for the best package ultimately gravitate towards larger PE-backed firms where they can secure better terms — and higher bonuses. In reality, it’s very much down to the individual business. Independent companies are competing for the same talent, so the gap isn’t as big as you might imagine — especially at the most successful firms. 

Where we do see a difference is in the amount of leverage candidates can apply in pay negotiations. By their nature, larger private equity-owned companies will have more structured compensation plans with less room for manoeuvre and more approval processes to go through — while at smaller independents there’s more flexibility, which can work in the favour of skilled applicants. 

Specialisation

One question we hear a lot from candidates — especially in the early stages of their careers — is about the opportunity to gain broader or more specialised experience in a specific role. On balance, we find that PE-backed companies lead in terms of how tightly they define roles — it’s more likely you’ll be working in a specific role that delegates other responsibilities to other departments or teams. That can be ideal if you’re looking to build deep domain knowledge and prefer to stick to your core skills.

On the other hand, for professionals looking for a more varied role, working for an independently owned firm is more likely to give you exposure to a wider variety of responsibilities, and the ability to get hands-on with a more diverse range of clients and requirements. 

Autonomy

On a similar note, the amount of professional autonomy and independent decision-making available to you may differ, depending on the setup of the company you join. PE-backed firms are often highly structured and regulated, meaning there’s less flexibility in how you can serve your clients. However, their greater reach — many operate multi-jurisdictionally — can enable you to collaborate with colleagues in other territories to build creative solutions. 

At an independently owned firm, you’re more likely to be given the space to tailor your services and operate in a more agile, responsive way, with decision-makers being more accessible and the review and approval process much simpler — which is an attractive prospect for many candidates. 

Reputation

The reputation of a firm is a key differentiator for candidates choosing their next move — but it can have different meanings for different individuals. Large PE-backed firms with international brand recognition are attractive to applicants who value the prestige of having a respected name on their resume, and the breadth of opportunities and diversity of clients that representing a bigger firm can offer. 

But for candidates looking to work in a specific area — for example, philanthropic fund management for family offices — an established independent with a sector-specific reputation within family office services may open up more opportunities to build their experience and personal standing within that niche.  

Culture

One criteria that is too often overlooked by candidates is the culture fit — which doesn’t just mean how well you agree with a firm’s mission statement or purpose, but how day-to-day interactions contribute to your sense of value. It’s true that at some of the larger PE firms, recognition can be limited — closely tied to how well you’re hitting KPIs or exceeding targets. 

While that can be a motivating factor for some professionals, candidates who value recognition of their unique skills, approach, or relationship-building may find a better fit at a smaller independent firm — where a flatter organisational structure permits more holistic working relationships and individual recognition. 

Focusing in on the right opportunity

Of course, every company — and every role — is different. While this guide touches on some of the general differences between working within a PE-backed or independently owned environment, it’s never a black-and-white choice. For instance, we work with independent firms with extremely high expectations and pressure, and equally, PE-backed firms that offer exceptional opportunities for career flexibility and creative thinking.

The key is finding the right opportunity for your preferred style of working, unique skills and personal goals — and that may change as you progress through your career. At Victus, we specialise in making those precise matches — working closely with you to identify the positions where you’ll thrive while adding significant value to the business. If you’re considering your next move, or are actively seeking an opening within an institutional or private client firm, feel free to get in touch with us to discuss your options.

Finding a precise match starts here

Whether you’re looking to fill a specialist role, or seeking the right position to deploy your unique skills and experience, the first step is to get in touch with one of our expert consultants.

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