Compensation and Exit Opps from Endowments
Hi, I am just curious what compensation looks like for the analysts at large private endowments are, and how this pay scales for associate/director/etc.
Also, if I were to start my career at an endowment as an analyst, where would that leave me in terms of exit opps? Would I be pigeon-holed?
bump
Search for @BlueWing's posts. He's looked into this sort of role extensively.
Thanks. Yeah, I've seen those posts but I wanted to see if there were any other datapoints out there since he's just one example.
Exit opps are more limited than a traditional banking gig. You'll most likely be focusing on institutional allocation type roles (PE FoF, HF Fof, etc.) Bschool is also another common exit. Side note: the CFA program is often encouraged. Pay is decent at the analyst/associate level (80-100k for analyst, mid-to-upper 100s for a younger associate). Analyst/associate pay is similar to banks/consulting but will definitely ramp slower. There will be a big difference in director/VP pay between an IB and an endowment. At the very top, chief investment officer, pay will be on par with MDs. Pay can vary depending on asset base and pedigree of institution. Also, some roles are in college towns where COL is nothing compare to NYC/SF. It's a pretty relaxed environment and hours are not bad; you'll probably work 50-65/wk.
Great, this is what I was looking for. I know the banking lifestyle isn't for me at all- thanks!
Is there any good resources for looking at these data points or is mainly just thinks you've experienced/picked up by being in industry. I recently accepted an internship at an endowment after spending a summer at a large AM shop. Pretty excited.
Non-profits have to disclose a number of things on IRS form 990, including comp of top employees. Just google the organization and IRS form 990 and they should pop up. This should help show what the top people are making at your target firm. For juniors comp/hours it's mainly glassdoor and experience in the space.
Congrats on landing the endowment internship! Definitely a good (and unique) alternative to the banking path. Feel free to shoot me a message should you have any further questions.
I've worked on the allocator side for three years at both an advisor and an E&F and have interviewed with various other types of LPs (banks, FoFs, family offices, etc.). I generally agree with the points made by @EFInvestor32", but would caveat that pay and hours may range substantially based on LP type and function.
For example, if you're working for a $100bn+ sovereign wealth fund or a large FoF, you'll likely be making a substantial number of new commitments each year and may be doing direct deals. As a result, you'll likely make more (125-200k as an analyst) and work more (70+ hours).
On the other hand, a smaller endowment or foundation that isn't making many new commitments and runs a concentrated book (no directs) probably pays less (75-125k as an analyst) and you'll work less (~50 hours).
I worked at an advisor covering privates for 2 years. My all in comp ranged from 65-80k and I typically worked 55-80 hours per week, living in a high cost city. I now work at an E&F with comp between 120-150k working 45-60 hours per week and live in a low cost area.
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