Apr 18, 2023

Long only HY credit?

Hi all - I have an offer at a long only HY public credit shop. Investing in everything all the way down to CCC’s. Can anyone help me with the following insights?

1) is this a “dying” career path and is the fact that a lot of it is retail money a problem?

2) Their AUM has fluctuated over past decade by about $10B, but has remained in a certain range consistently. Is this due to market volatility / inflows and outflows?

3) What is fair compensation? I have 4 years experience.

4) Does compensation in these roles increase materially with tenure? I realize a HY Analyst is really never anything more than an analyst unless they go the PM route. So, does comp increase similarly for example to a promotion to Senior Associate, VP, Director, etc. in the private markets?

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