Banking vs Private Credit/Debt Fund
Currently at an IB as an associate (CRE).
My current comp is 125k with target bonus of 100-125k.
I have insight on my career progression and comp. Looking to get a sense from everyone if they'd climb the ladder or jump ship a couple years down the line like everyone does in banking. I see a good chunk of my peers leave after 3-5 years to go work for our clients. For people on the private credit/debt fund side that came from a banking background; what would you do in my situation? Was the jump worth it and what about banking dissuaded you from staying.
assuming comp/title progression below:
Associate 1 - 125/125/250
Associate 2 - 150/150/300
Associate 3 - 175/175/350
VP 1 - 200/200/400
Came from CMBS. Not banking. But Vp comp is above what you listed and work 60-65 hrs a week, so likely better than banking hrs. Vp debt fund (talking pe / pc brands) can be call it 400-550k (yoe). Maybe more and with some long term def comp. And again decent hrs. Private credit … real estate or corp in my mind is an great seat. “Lower” hrs for finance and solid comp and carry down the road.
I should have specified, I sit within the CMBS team but my product isn’t in the direct lending space so I fall within the “banking” category. I admit my comps for VP is probably either outdated or definitely on the low end. What comp have you seen for the VP level?
I feel like this is a well kept secret and perfect balance between comp and lifestyle. How long did you sit in the CMBS seat before going over?
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