Thoughts on moving back to India for a MF PE role?
I'm currently based in the US and just wrapped up my analyst stint at a top group. I'm now headed to a UMM/MF special situations shop as an Associate in a career-track role, with expected first-year total compensation in the mid-$300Ks. I grew up in Mumbai, India, but came to the US for undergrad and have been here since. Most of my social circle, including my girlfriend, is based in the US.
An opportunity has come up for a PE Associate role at a global MF in Mumbai, focused on generalist investing in India. The fund has a strong, top-quartile track record and is currently deploying capital from a $7B+ fund. It appears to be a career-track role as well. Compensation would be around $250K (lower than what I’d earn in the US) but would stretch significantly further in India. I also wouldn’t have to pay rent or take care of major living expenses, since my family owns multiple homes in Mumbai.
That said, I have some reservations. I’m currently in a solid career-track role in the US, and I worry that moving back to India at the Associate level might shut the door on returning to the US later. There’s also the risk that I get pushed out after 2–3 years and find myself with fewer local opportunities and a lower comp ceiling. Another concern is cultural fit—my entire professional career so far has been in the US, and I’m not sure how I’d adapt to the work culture in Mumbai, which I’ve heard can be significantly more hierarchical and intense. My father, who works in high finance in Mumbai, thinks I should wait 7–10 years and move back at a more senior level, when I'd have more leverage to shape the culture around me.
On the personal front, my life is very US-based, and relocating would mean moving away from my social circle and my girlfriend but closer to my family. Still, from a quality-of-life standpoint, the move has its advantages—lower living expenses, being closer to family, and arguably a better lifestyle day to day. Finally, I do believe in the long-term growth potential of India and think will be a growing opportunity set and this can be my stepping stone back home.
I’d love to hear thoughts on what the MF PE scene in Mumbai is like and how the culture compares to the US. I’m also curious whether moving to India now would limit my ability to come back to the US later, and if the interview process differs much from PE recruiting in the US.
Bump
Not directly answering your question, but I would really think about your genuine desire to live in India at this stage of your life and potential disruption to outside of work, which sounds like it’s real. In the long run, it’s just a job and life is short so is it truly worth uprooting yourself for the prestige?
While there obviously will be some level of disruption, I spent 18 years in Mumbai before moving to US and have made it a point to visit very frequently over the past few years. My parents and siblings are also in India so that’ll be good for me to be near them eventually.
The other argument is I am here on an H1B right now and don’t have a green card yet (could theoretically get it down the road if I marry my gf or if my job sponsors me) but there’s also a lot of uncertainty visa wise in the states. I may not have this job 3 years down the line if I am forced to move back at that point. The Job will be the leading reason but ultimately I would 100% be comfortable living in Mumbai - it’s where home is ultimately for me.
So there’s a few different things at play here.
Seems like an amazing gig if you're from Mumbai. Lot's of exciting growth happening.
I have a friend at a MFPE in India and he honestly lives like a KING. With that being said, your father is right
How has his experience been? Has it been very political like general Indian companies or more so like an MF PE typically operates?
Also do you know what his comp his like? Trying to see if 250k is in line with other MF PE associate roles in Mumbai.
I would 7-10 years in but honestly 10 years from now I’ll be married to my gf who while of Indian origin grew up in US and her extended family is here and I doubt she would want to move to Mumbai. Plus at that point I’ll have kids and moving them a different country will be difficult.
afaik his experience has been great but he also did a couple of years in BB IB in India. He started out in NYC but moved back (office transfer) after two years, so I guess he was used to working in India when joining PE. Also, not sure if this matters, but its a ”European MF”
India could undergo a similar growth path as China did during the 2010s. Might make sense to head home and be apart of it.
Thats on my mind as well. Specially given how it seems like returns in the US will be harder to come by compared to emerging economies.
please go back
Get a life
Probably not the best person to answer this since im an intl student from mumbai in the UK but I did a MMPE internship last summer in mumbai. Here are my two cents:
Take the offer. India is going to grow like CRAZY and the finance sector is still underdeveloped comparative to potential. From experience, and you will also know, that at 250k (and it'll just grow) w no dependants AND not paying the super high Mumbai rent, you will genuinely be living the most luxurious life possible. It easily creates this sort of bubble that is only attainable at a ridiculous ridiculous amount in the US. I don't think I would be able to pass up on the lifestyle benefits that 250k w no major expenses brings. Being close to family is a big +, most people don't get that until its too late. Also, I think you wouldn't have a problem finding a very well paying job even in MMPE given the growth that private equity in India is about to go through and that is considering the risk that you are let go (worth the risk imo). Culture should also be good (was great at the MM, just some stricter hierarchies), theres really strong level of talent at assoc level and since you grew up here, it should be no problem integrating back. Would love to connect and learn about your journey if you're open btw.
In a similar situation, could i dm you?
$250k in India with lesser expenses and family around, given where the market is here, just take it. Makes sense from a multiplicity of factors, primarily from the visa standpoint. I am assuming you are in your mid/late 20s and this is a perfect age to make a move.
If at all you do not like living here after the ghar wapasi, the south east Asia market is always open and with a background like yours, recruiting in Dubai/AD/Singapore will be a breeze, all fab cities to live and and spend in.
Your personal life is worth a lot. I’d stay in the US if only because of your relationships here. If you’re forced to move back to Mumbai in a few years due to life circumstances, there will be plenty of opportunities exactly like this for someone with your background. This isn’t that unique or special.
Congrats on the opportunity. Only add from me, if you take the India job, I think re-joining a US firm will be very challenging if you change your mind. Firms will struggle with (i) visa situation, (ii) I don't necessarily agree with it, but firms in India and Asia are often viewed as 2nd tier vs. the US (given more explosive market growth which some equate with less selectivity in hiring).
Hi OP, similar background to you (indian at top group and now working in mf pe in nyc for few years). Maybe helpful for us to connect over PM and discuss.
Hi, not op, but a sa at top bank in London from India. Would love to connect if you’re open to it.
Haha I see we got the same call
Haha are you going to take them up on it?
No, I don’t want to move to India unfortunately
If you want to live in India for the rest of your life due to family etc, kind of a no brainer right?
If you want to move to India then maybe move back the states later, seems like the play is just to stay here given social circle and such -- citizenship stuff aside which most of us are probably not qualified to give you advice on.
You're insane not to take the offer lmao. Girlfriends and friends come and go, generational wealth does not. Know a few partners who took a similar path during the early 2000s (the wave who set up the India offices) and they're all touching the 8 figures mark. The second wave, i.e. the wave of rapid growth, starts over the next few years. American experience is valued and your excuse of not fitting in culturally is weak; you literally grew up in Mumbai. Becoming country head in the India office is a realistic goal if you are homegrown, good luck making it past Principal in the NY office where HHs promise career-track roles but those promises are rarely fulfilled. The framing of the post seems like you've already made up your mind after speaking to your father. However, the harsh truth is you either take the offer or you forever regret it as the partners in global MFs in India have always been, and will continue to be, homegrown talent (think started as an associate in their Mumbai office -> top 5 mba -> go back as vp). If you curious about my source and why I'm spouting what seems to be opinions as facts, these are firsthand insights from conversations with senior MDs / country heads. Regardless, good luck with your decision.
This is definitely helpful - the more I think about it the more it makes sense to me. Is there any way to avoid the MBA? I really don’t want to spend another 2 years studying. Sounds like MBA Is a must to advance in India tho.
Yes you can, if you avoid the MBA you will have to do 2 years as a senior associate. A few firms like BX, Apax, EQT, and WP let this slide. Its becoming more common not to do an MBA as time progresses.
Sorry to be pedantic, but touching the 8 figures mark for those partners who have been in PE for almost 25 years and launched offices is kind of average no? They probably could've achieved this if they had joined a fast growing fund in the early 2000's in the states too?
8 figures in the West vs in India is extremely different. Secondly, on paper, OP is positioned perfectly to become a partner in the India office whereas he is nothing special in the American offices. I'm assuming Ivy+ UG, Work exp in a top BB, and a father in high finance that are all differentiating factors. Touching that 8 figure mark in India is unironically easier than it is in the US assuming all other intangibles are equal.
There is a huge amount of survivorship bias in this statement and there is no guarantees for what his career will be like in India or the US. He could go to India, get crushed and burn out and end up without a long term career in PE and without a relationship. He could go to India and end up at a firm that doesn’t work out politically and get ejected. There are a million different outcomes that are all far more realistic than ending up a country head and worth 8 figures.
If he has a girlfriend he is actually serious about and intends to marry in the near term, then prioritizing keeping his relationship healthy will matter 100x more in the long run for his happiness and well being than anything else. Anyone who disagrees has never been married or never seen how many successful people have miserable personal lives.
Totally agree, I was just stating the two best case scenarios (stagnate at Principal level in the American office or become country head in the India office). The other intangibles are things I cannot control and don't really care to address anyway. Additionally, you're right that I am not married and cannot speak to that so make of that what you will.
Similar background but in MBB consulting - you don't want to go back. It's a shithole back there. Yes you can live like a king with that salary but India is just behind way too much: pollution, women safety, food quality, education, and civil etiquette.
It's going to take a long long time for india to catch up to any developed nations. Heck, even compare India to China. Assume India can grow indefinitely for 10% every year and China grows at 3% every year; it will take almost 30 years for India to catch up, and this is a very rosey assumption already. At the time the average Indian can enjoy the quality of life of an average Chinese, you will be in your retirement age. Don't do it
Del
"In terms of standard of living especially compared to fucking China we live like Gods"
have you been to a big city in china? I would say it's even more technologically advanced than most big cities in the west.
you state that as if china is a complete shithole, theres shithole cities in both countries. ive seen too many india cooking IG reels myself
a bit like comparing apples to oranges though. in china, a good job is still seen by many as one at a gov-related co, and in india, it seems to be a lot of tech/health/etc
assuming a lot of people talking in this thread haven't been to many. like for the asia market, india/china/singapore/dubai - I prefer singapore the most since everyone speaks english very fluently and public safety is very high (as someone from the US), but they each have their strong suits.
With enough money (not that much at all), you can avoid every one of those things and live a life arguably better than in the US. The only thing would be pollution which you can’t control when you’re outdoors but I don’t know many big outdoorsy people in Mumbai. Also he won’t be an average Indian he will be easily top 0.1%. India is not a shithole if you have money.
OP with his US PE offer in the States is also in the top 0.1%, though back in India he might be closer to the top 0.05%. Point is he can live a great life without financial impediments in either country. Now, out of all the problems I listed the only thing money can solve is food quality. How is being in the top 0.05% going to solve women safety and lack of civil etiquette? And do you know how the rich people in India solve the education problem? By sending them abroad to America.
No one asked for your opinion CCP bot. The post is about comparing India and the US not China.
This is the kind of backward thinking causing India to be the top 50 poorest country by per capita. If you love India so much, why dont you fucking move back?
I would if I was from there haha. Regardless, I am heavily considering moving there after my IB stint as I'm part Indian ethnically. Relax with the profanity consultant, now go get me a coffee.
imo get your green card first, i know people who moved back to india and almost all of them regret it for not getting their green card or US citizen. Also before marrying your gf you need to be certain she's on board for moving to india. seems like you're from a well off family in india so maybe you are not worried about burning out of PE in India and realizing other corp opps dont really exist at the same pay scale.
getting a green card takes 10 years, ain't no one got time for that
Its even worse for Indians, you virtually won’t get it in this lifetime with the current backlog
In a similar boat too, but have a few more years of experience (ignore the title). Happy to chat as well
Looks like there's a lot of like-minded people in this thread who would like to connect - people who grew up in/around India + studied abroad and want to return home/take advantage of the growth story. Myself included - undergrad '24 progressing through analyst stint and expect to make the move in a few years. Can paste a Whatsapp gc link below if there's interest.
That would be great - I am OP and I would be interested in that.
Same here, very interested. Currently in MF pe
Me too, please do this. Lot of interest.
I'm interested as well
Wouldbe very interested
Did you end up making one? If so, can you please send it to me?
del
Is the WhatsApp link still active? Could you please share? Would love to join given I’m in the exact same situation
DM me - I'll create a WhatsApp group if we don't have one right now. Currently at M7 MBA and worked in India PE prior to MBA. Looking to create / join a community of like-minded people evaluating different geos for building a career in PE.
interested!
interested!
Interested
US is saturated by investors and professionals, India does not have as many. Plenty of opportunities to exploit more interesting inefficiences in private markets in India vs. US.
So how I see it is as a boring career path in the US vs. a more wild west in India - far more interesting. It's true that may close some doors in the US, but between being one among many in the US I am sure that you'll have more fun being part of the few in India.
Also, you could save more in India and at the end of the day not many want to work in their 30s and 40s, so I am sure that you could retire way earlier. Rent/mortgage is by far the biggest cost, so it's a huge advantage.
Going back to the inefficiences above, I am sure you can as well be more entrepreneurial down the road in India vs. US considering it's an emerging market and probably has many more needs to be filled
you probably will also inherit your family's RE portfolio, so combined with your exposure to India/being on the ground, you could easily expand it knowing the market and having the local network
because sincerely US is worth solely to create wealth, but if you're able to create it elsewhere then US loses its attractiveness
A little late, but I have been through that journey.. started at a BB IB in London but was getting married and my wife was extremely happy in India and wanted nothing to do with London’s weather and snobbery.. so I moved to a BB IB in India, a little over 15 years ago, then moved to a growth fund and now with a MF..
Have seen the market evolve dramatically.. from unlevered minority transactions to back Indian founders to almost a 100% buyout model today .. total deal volumes were about 5-7bn 10 years ago, it’s about 60bn now.. the original construct when I joined India PE was to hang around for a couple of years and then pivot to HK/Sing and eventually to NY/London.. the head of India PE was usually a partner sitting in London/HK/Singapore while today the heads of Asia of every major fund sit in Mumbai..
the center of gravity of Asia investing is now India, China is uninvestable for global PE , SEA and AN are too small and so 60-70% of a bunch of 10-15bn Asia funds as well as active global funds are finding their way here
Exits were a concern till 2017-18.. but subsequently domestic capital flows have pushed the IPO markets to all time highs and we’ve all been enjoying a lovely stream of exits.. (to give you a sense, there have been more IPOs in PE India portfolios in the last 3 years than all of NYSE/NASDAQ)..
I wouldn’t worry about professional growth.. the cultural aspects are subjective.. but it’s a function of how you define quality of life.. if it’s clean air, walkable cities with greenery and quiet and calm efficiency, Mumbai isn’t for you (I suppose neither is NY).. if it’s a protected 1% lifestyle in gated communities with personal chefs, chauffeurs, maids, security, gyms, trainers with a pretty interesting food/bar/culture scene and a regular escape to the beaches, jungles or mountains nearby, then you will be fine..
Would you mind joining the Whatsapp group pasted above? Would be great for us to have the guidance of someone that has made the same move before, if you are willing
Will stay anonymous. Feel free to DM
Hey, I can’t see the WhatsApp group link. Could you please repost it?
-
Hey, is there a WhatsApp group still?
“. if it’s clean air, walkable cities with greenery and quiet and calm efficiency, Mumbai isn’t for you (I suppose neither is NY).. if it’s a protected 1% lifestyle in gated communities with personal chefs, chauffeurs, maids, security, gyms, trainers with a pretty interesting food/bar/culture scene and a regular escape to the beaches, jungles or mountains nearby, then you will be fine..”
this is massive cope. Mumbai is a decent ish city but to compare to nyc is laughable. lol at personal chefs and maids yes they make ok marathi food and yea your maid will do what clean up after you? You can get a cleaning lady anyway - a single guy doesn’t really need a full time maid lmao. Chauffeurs - uber black works beautifully. Anyways carry on.
Point is that it is much much cheaper in Mumbai (one time cleaning in NY will cost more than a month of regular daily house-help in Mumbai). You can spend a lot more on other things, save way more, invest more.
and then 10 years later you'll watch a crime patrol episode of a maid killing her rich boss to steal his money
Currently in Mumbai, please have some decent sense and stay away from this shithole of a city. If you actually are a professional working in NYC, you should not find it hard to to get an idea of how insanely chaotic and stuffy this place is. No amount of cheap labour and fancy clubs will make up for what this city has turned into.
Come here only if you have no other option.
Hey - I am in a similar situation. Did undergrad + banking + 1 yr at MF (currently working here) in the states and I have been contemplating the move to India as well (grew up in Mumbai as well fwiw). Can you pm me? Would love to chat with you and trade notes.
Life in the US is expensive and cutthroat. Working culture might be different but you're smart enough to adapt. Feels like the glory days of the high paying professional experience especially at a junior level is long gone in America. Go live like a king in India and take part of a booming economy.
hey. i have a parent who was faced with this decision (stay in India at BB vs take job offer relocating to NYC) when i was about to be born. they were offered a US move multiple times through my childhood as well and chose to stay in Mumbai. happy to provide my perspective over pm if you'd like.
would like to hear their thinking
can i dm please
I am in the exact same situation currently and would love to chat with folks going through the same - is the Whastapp link still active? Would love to join!
Recusandae dignissimos eum nostrum sed rem. Dolore debitis ipsum quis modi. Qui facere ea alias voluptates placeat ducimus. Quibusdam minus adipisci qui nostrum. Accusamus consequatur qui illo molestias animi.
Nemo laborum consequatur nostrum. Sequi aut corrupti doloribus nihil neque et sed. Quibusdam voluptates possimus voluptas omnis. Temporibus repellendus error voluptatem id.
Sunt dolor libero saepe adipisci aut qui alias. Voluptatum minima vitae quam dignissimos aut ipsum. At et dignissimos facere ullam dolore dolore cupiditate rerum.
Enim voluptas a eius consequatur ipsam a. Earum adipisci labore qui architecto rem quia at.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Nihil rerum voluptas eos suscipit laborum corrupti aut doloremque. Et fugit temporibus qui ad qui sequi.
Et impedit maxime et non ab. Est quae odio libero. Modi assumenda eos voluptatum hic molestiae.
Ullam aspernatur maxime ab. Quia dolorem soluta nostrum error aperiam consequuntur ut. Blanditiis sint nobis voluptas adipisci quis consequatur. Voluptate non id optio voluptatem.
Atque voluptatibus eius voluptatem commodi. Reiciendis tempora quo provident architecto illo. Et impedit commodi ipsam minus libero deserunt veniam sit.
Perspiciatis rerum distinctio aut deleniti impedit eos ex. Exercitationem voluptatem eos inventore iusto aut voluptas facilis. Dolorem velit et distinctio omnis ut eligendi quasi.
At magni natus cum architecto soluta placeat culpa. Et illo autem at maiores et hic incidunt. Incidunt cupiditate voluptatem nulla necessitatibus et omnis. Omnis rerum quas sunt officiis repellendus. Nihil laborum nulla corrupti eos repudiandae nostrum eum.
Dignissimos et et at consequuntur similique nam. Deserunt cum consequatur soluta explicabo. Provident tenetur molestiae quidem earum consequatur tenetur non. Culpa officiis alias dolor aperiam consequatur. Culpa quo sit et facilis est dignissimos. Tempora officia est dolorem qui voluptatum animi fugit et.
Voluptatem minima sunt autem blanditiis perferendis repellendus. Sunt facere accusamus repudiandae accusantium non voluptas pariatur. Dolores qui doloremque atque illum. Recusandae laboriosam odit qui et.
Sed aut impedit debitis quasi autem voluptate et. Esse veniam ipsum tempora ullam optio. Assumenda rerum quia omnis quia quo eligendi illo qui. Eos sapiente vitae asperiores perferendis perspiciatis.