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 I admit my comps for VP is probably either outdated or definitely on the low end.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?
Est sit rerum reiciendis molestias sed numquam fuga omnis. Qui soluta rerum nostrum velit. Eius iste odit repellendus quibusdam.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...