My friend is at a successful HY debt fund but has been engaged for a principal/MD role at Apollo. Curious to hear about wlb, comp, cultures, experience at that 12-15 year level. Originations/Debt AM background but unsure if they bifurcate the two. Is it sweaty but fruitful as people indicate?
Any feedback welcomed. Thank you.
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Based on the highest ranked content on WSO and the insights shared there, Apollo has a reputation for being a demanding place to work, often described with terms like "sweatshop" due to its intense work culture. The firm is known for expecting long hours from its employees, which can be seen as both a challenge and an opportunity for growth, depending on one's perspective. The culture at Apollo, as indicated in various discussions, is one that rewards hard work and dedication, but it's also noted for its high-pressure environment.
Regarding compensation, while specific numbers for the principal/MD level aren't detailed in the provided context, Apollo is generally understood to offer competitive compensation packages that are reflective of its high expectations and the demanding nature of the work. This aligns with the notion that the experience can be "sweaty but fruitful," suggesting that those who thrive in such environments may find the rewards—both financial and professional—to be significant.
As for work-life balance (WLB), the consensus from the discussions suggests that Apollo, like many firms in high finance, poses challenges for those seeking a more balanced lifestyle. The firm's culture and the nature of the work, especially at senior levels, often require a substantial time commitment, which can impact personal time and outside interests.
The distinction between originations and debt asset management (AM) roles isn't explicitly addressed in the context provided. However, it's common in the industry for there to be some differentiation between these functions, with originations focusing on the sourcing and structuring of new debt investments and debt AM dealing with the ongoing management of these assets. Whether Apollo bifurcates these roles clearly might depend on the specific team structure and operational model within the firm.
For your friend considering a move to Apollo at a senior level, it would be beneficial to directly engage with current or former employees at similar levels to gain a more nuanced understanding of the role, expectations, and culture. Networking and firsthand insights will be invaluable in making an informed decision.
Sources: Apollo is revamping recruiting and softening its culture. Here's a look., Apollo London - What's it like?, Is Apollo that bad?, Private Equity shops with the best work/life balance, More negative press on Apollo
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I love their debt team and have tremendous respect for them. You hear all of these horror stories about Apollo, but I think it must be group dependent. I have nothing but respect for the MDs who run their RE credit strategy. They’re sharp, hard working, creative problem solvers, reasonable negotiators, and best of all super down to earth, which I wouldn’t have expected. That group’s culture seems great and the deal flow is tremendous, although I’m not sure what it’s like for juniors behind closed doors. They work hard, but I suspect it’s still positive. I’m a big fan and would definitely be open to working there if it wasn’t exclusively a debt group. That said, their RE equity pros seem to be the opposite: bad investors and terrible culture. Go figure…
Thanks for the feedback. What's your experience with them, have they financed your projects before or do you have some direct connections with their MDs? I think my friend is attracted to the name and bump in comp but could be sucked down by awful WLB and deal flow (assuming it's heavy on the lifeco side and less on the hairier, value-added/opportunistic structure he currently works with).
As a lender I’m a big fan of working with their team, very professional group. Actually do what they say they’re going to do. Typically has realistic expectations. We’ve had miscommunications in the past but when we did they were unintentional and have been easily resolved. Your friend should definitely be exploring this opportunity.
Do these guys invest out of close ended vehicles, or just the ACREF mortgage trust?
largely the mortgage reit and athene. no dedicated closed end vehicles to my knowledge, but there are so many credit vehicles at apollo that spicier stuff can fit in some others
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