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April 30, 2024
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one of my buddies got that email too heh
what would you like to know? I worked there from 2005-2008.
Culture, hours, reputation, comp...the usual. Much appreciated.
well things could have changed since I was there so take it with a grain of salt. This is for pre-MBA positions.
Culture: fairly laid back. They give the pre-MBA associates a good amount of responsibility. By my 2nd year there were some deals where it was just me and an MD, and I was negotiating covenants w banks, working the model, point person for accounting and finance diligence teams, etc.
Hours: Good hours, I averaged ~60/week. Would get as high as 80 when bad, as low as 50 when good.
Rep: Think they have a good reputation in the middle market and the guys at the top all have very impressive backgrounds (MSCP, Warburg, etc). They have had a couple of very solid deals, but I think the verdict is still out on how the first fund will ultimately perform. They made a bunch of investments once I left and I have no idea how those are performing (and I know very little on the deals I did).
Comp: slightly below market for a fund of that size (think they closed ~$750mm), but given the hours and experience, I still think it is a good job to have -- especially in this market. I'm not sure how comp has changed, but my guess is that it hasn't increased much for the junior guys since they have increased the size of the team in the middle ranks since I left (less $ to go around).
hope that helps, Patrick
Thanks, Patrick. From your experiences back in 2008, did the majority of associates go back to b-school? How was placement?
yes, most did. from the ones i know (including me).
2 - wharton 1 - Tuck 1 - Columbia 1 - Went to start-up
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