Chicago Private Credit Compensation
Have been recruiting for associate private credit roles in Chicago and was quoted $100 base and $40 bonus. Is this the standard for associates in Chicago? Feels low to me — I know shops like Golub pay the same as NYC but not sure about others that may not have an NYC presence
That seems low for Private Credit. Is this a PM role?
No, it’s an underwriting role. Was told pay scales well after associate.
Agree with the other comment. I haven’t really seen many Chicago roles offering lower than 180k total comp.
That’s a total lowball. The low end for Asso 1 in Chicago would be 180k all in.
Is this Monroe?
Twin Brook
Preliminary from recruiter or quoted with an offer?
Usually Chicago is at a 30% discount to all in compensation in NYC, so $140k seems a bit low (call it ~$200-210k equivalent in NYC). 1st year associate should be in the $250-300k range in NYC. That being said, if this is Twin Brook or Monroe, those are both lifestyle shops, so you are likely to have a fantastic life for the compensation.
Makes sense, thanks. It’s hard to imagine a deal based role could be 40 hours a week — seems like it might be too good to be true
When I was an Associate I was making around $250k all in working average of 50-55 hrs a week. You’re either being low balled or you’re going to get a very easy lifestyle (prob nothing past 40 hrs per week)
at what shop was this? 50-55 sounds amazing i'm over here getting my ass worked 80 a week as an analyst making ~$160k
This is in line with what Twinbrook pays. They hiring big 4 backgrounds mostly so they can get away with offering lower than market.
Any idea about comp for Monroe underwriting in NYC? Have heard the Chicago team is somewhere between 120-135K base, but I simply cannot imagine those are the same figures in NYC.
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