Carlyle/Apollo Thoughts?
Was curious what comp, culture, hours, etc. are like for associates in credit teams at Carlyle/Apollo. I understand these two firms are quite different and that they may have varying cultures across different credit-related teams, but was generally curious as to whether anyone had any thoughts or insight here.
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Apollo feels like they are expanding by creating several groups, not all of which talk to each other. MM is stuff is being done more under the MidCap name. And they have Athene, I think a lease product, and some other mandates. Really depends where you go. They are trying to do a lot of vanilla stuff for new originations on the credit side.
Carlyle looks more like a standard BDC where you'll work hard. Comp is OK but not top of market at VP level. Assuming same for Assoc.
Can you elaborate if possible by providing 1) an estimate of hours and 2) general intensity (i.e. would one be getting screamed at or are people professional)?
idk hours - would guess (wild) ~60-65. +/- 5. carlyle vp and principals are staffed by sector. idk re associates. carlyle had turnover. cio left. head of uw is new to team (but been with firm) fir a bit. carlyle may be better re: getting yelled at but that's subjective
Have context on two of the Carlyle Illiquid teams: CCOF and CDL. Both are 80+ with CDL exceeding that more often. Can get grindy on useless asks / unnecessarily expedited timelines ie Banking 2.0 and culture isn’t great. Full weekends and late nights are common but may differ across sector focus. Definitely not 60-65 hours. Most of the underwriting team is also fairly new to the firm as they cleared house 2-3 years ago. Carlyle / Apollo mentality is probably more comparable at these teams than you’d expect
Midcap (Apollo MM) is pretty active and is similar to a lot of developed shops out there on the direct lending side. I have heard hours/culture seem fine. No idea on comp.
Carlyle DL is a sweatshop and have heard some tough things in the past year or so. Culture and hours seem unnecessarily rough compared to any other DL platform I know folks at. Massive turnover. No idea on comp.
Can confirm comp at MidCap was wayyy below market until 2021 for Associate roles but they get good WLB
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