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No idea why this matters, but anyways...

The firms most likely to use PJs are:

  • Firms with significant AUM (i.e., large pool of management fees available) and long-tenured founders/MDs who have banked significant carry following multiple successful funds (i.e., have gotten rich and likely incorporate PJs into broader tax planning for accelerated depreciation, etc. with ability to chargeback to the firm) (e.g., LGP)
  • Firms that need to travel to Tier 3/4/5 cities that may require connections or inconvenient travel (e.g., firms focused on industrials)
  • Firms based in Tier 3/4/5 cities that make travel more challenging
 

First class seats just don't do it for me anymore nope :L

"If you don't have any enemies in life you have never stood up for anything" - Winston Churchill | "It's a testament to the sheer belligerence of the profession that people would rather argue about the 'risk-adjusted returns' of using inferior tooth cleaning methods." - kellycriterion
 

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