Duff & Phelps is comedy
After spending 2018-2021 at Duff & Phelps (now Kroll) and exiting a few of months back, I can now openly make fun of them. The management is hilariously bad and it’s no wonder their reputation as a firm is iffy at best.
Here’s their latest corporate move- the use of acronyms has been banned firmwide. Kroll’s brand new President (took his role 8 weeks ago) sent an email proclaiming that acronyms are not inclusive, and that they are infuriating because some people can’t understand them.
OMG WTF
HAHA yeah they’re a bunch of clowns
dude did you forget to post anonymously ? Or just don’t care anymore lol
Clever. Took me a second to get it.
Wtf do you mean acronyms have been banned? So what, you'd get in trouble for saying "DCF" in an email?
His email mentioned that some widely accepted acronyms like NPV, EBITDA, etc are okay but otherwise none are allowed
that's absurd
You cannot be serious. Or is everyone supposed to check the global directory of "widely accepted" acronyms to make sure that the one they're about to use is / is not on the approved list?
How is compensation like there?
Insultingly low at all levels
do you have specific numbers?
We’re you in restructuring? I had an opportunity to possibly join as a vp. Was curious what comp was in that team.
I can’t speak for IB or restructuring. I worked under the VAS umbrella.
They are (or were) run by ex-bankers. Shocker that they aren't good communicators / operators. A little bit different being in IB vs. running a financial services firm.
What group?
Excuse me, you mean Managing Director and Los Angeles. Stop using acronyms!
Dude I remember when I worked there (like 3 years ago, non US office) they got private equity investors and started calculating some random per employee metrics. HQ's biggest concern was tracking associate utilisation. What idiots.
Yep utilization rate is pretty much the only metric considered when management assigns bonuses and promotions. The work is super cyclical, so during off time (2 months per quarter), you're 30-40% utilized (still have to sit in the office wasting time from 8-6) then they expect you to work enough during busy season (1 month per quarter) to average out to 105% utilization. All for $60k. Lol
Jesus, was $60K your starting pay in 2018, or when you left in 2021?...
In case anyone was curious, here’s the email 😂
hahaha what the fuck
not going to lie - I cringed hard.
Not that i doubt this is real, but doesn't hurt to remember that this email could be fake based on that screenshot.
It was sent to me by 2 of my most trusted former colleagues.
tldr
WOW. His last three bullets are so misguided and stupid. Like excluding most hardo newbies in the industry, most of us use acronyms to signify terms and get concepts across in a concise manner to those who are speaking the same language, such as colleagues or many clients. It's downright dumb to think that acronyms are exclusive or lazy.
I’m sure Duff & Phelps is indeed a joke, but I’ll play devils advocate here and say that I don’t think the sentiment behind this email is that bad.
There are lots of companies that really do go overboard with different acronyms/shorthands for dozens of different internal groups, committees, processes etc. It really does come off as pretentious, annoying and alienating to new joiners. Worked at a place like this and there would be hardos who would rattle off a handful of these when explaining something and not bother to elaborate further and its just like ok dude, sick, I have no idea what you’re talking about.
I think it’s really these types of acronyms that he is trying to address, not common conceptual acronyms that you would use with clients, more internal acroynms within the company. I’m not sure I would bother to make such an issue out of it if I was in his shoes but I get it.
Interesting perspective 👍🏼
I agree with this take. This isn't some guy coming in trying to be ultra woke and saying "we want to be INCLUSIVE", this is someone who's come in and been genuinely confused by a bunch of acronyms and is trying to reduce their usage.
If any of you want to give this a try, find two of your colleagues who are vets and set up a meeting with them.
Reply all: “kys”
in all seriousness though this mofo is banning acronyms just because he doesn’t understand them?
I remember when applying there DP listed the office to be in NY on LinkedIn, and then I was blind sighted by an email from HR that the office is in NJ. Lol
This has happened to me a few times when recruiting lol. They justify by saying its the NYC metro area...
Excuse me? "DP"?- I think you mean "Duff and Phelps". Please don't be so lazy and alienating by using this acronym. This is your last warning before the Committee on Acronym Termination punishes you.
I mean, Musk banned acronyms as well, but building rockets and building Excel models are bit of different things
I agree
Rest in peace to thx
HAHA
I mean...that is a lot of stupid acronyms...just saying
I don’t hate the sentiment of reducing the usage of acronyms but the president’s first big move being to ban acronyms is funny to me.
He must have been targeting the LHF
Currently in a generalist val position. How'd you exit out and what are the xits like?
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