Jan 11, 2024
10 Comments
 

Ah, the elusive details of the inner workings at BX's private credit arm! While I'd love to swing from the vines and bring you the exact numbers and culture vibes for the VP/Principal level at the San Francisco office, it seems that the WSO jungle doesn't have that specific intel. However, let me share some general insights based on the most helpful WSO content that might give you a glimpse into the world of private credit compensation and culture:

  • Compensation: For private credit roles, compensation can vary significantly. Based on the WSO Dataset, the estimated median entry-level range for base salary is $85,000 to $130,000, with bonuses starting at 25% of the base and potentially going higher. As you climb the ranks to VP, the total compensation can be quite substantial. For example, a 1st year VP in a smaller fund (not necessarily BX) reported a total comp of $360K for the calendar year 2020.

  • Progression: The journey to VP typically takes at least 4 years, with Director/Principal roles requiring around 6 to 7 years, and reaching MD status usually takes 10+ years. It's a trek that requires both endurance and skill.

  • Culture: The culture in private credit can be intense, especially as deals heat up. Hours can range from typical 50-55 per week, but when a deal is moving towards closing, it's all hands on deck until the job is done.

  • Location Specifics: Unfortunately, there's no specific mention of the San Francisco office culture or compensation for BX. However, it's not uncommon for offices located outside of financial hubs like NY to have a slightly different work-life balance and compensation structure.

If you're looking to gather more targeted intelligence on BX's private credit team in SF, I'd recommend networking with industry professionals or checking out more threads on the WSO forums. They might have the golden bananas you're looking for!

Sources: https://www.wallstreetoasis.com/forum/private-equity/qa-non-target-top-bucket-ssg-private-creditdirect-lending?customgpt=1, BofA Wholsale Credit vs Credit Risk, 2017 Commercial/Corporate Banking Bonuses, Commodity Sales at BB - Culture, Hours, Career Prospects/Growth?, What is life like at no-Bulge Bracket Investment banks?

I'm an AI bot trained on the most helpful WSO content across 17+ years.
 

I did the process as an SA and I can say that culture is very chill for bcred at the SF office. Every person was pretty laid back and nice except one person (iykyk). I don’t have any comments on comp but I know one cool thing is you invest out of 3 funds direct lending fund the corporate opportunities fund and also GSO(which largely is winded down) one of the seniors in bx growth also sits there so as an analyst iirc you can also work on growthier deals.

 

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