MM Private Credit Compensation Survey
I'm a 2nd year Associate at a LMM direct lending fund (targeting $3-30M EBITDA businesses) making $160K all-in ($100K/$60K) working 60-75 hours depending on how slow or busy we are. First year I made $150K all-in.
I have an upcoming review with my direct report mid next week and wanted to check with you all how I should proceed discussing my comp. Based on some of the threads here, I think I should be targeting $150K base? Looking for sponsor backed DL comp surveys? would anyone of you be kind enough to shoot me one at this email [ JD7912657@gmail dot com ] so I can have data points to share with the team here.
Happy to post all surveys I receive on a google drive and share a public link here for benefit of everyone.
Thanks
Most recent (good) comp survey I saw was from Oddesey back at the end of 2021 (although new one should be dropping soon). Median Associate base/bonus for firms with $5B AUM (guessing that would apply here given borrower size) was $125/90. With that said, based on the hiring market over the last couple of years, would guess these are light at this point.
It’s interesting how the US market is so different vs Europe. London market is dreadful atm: IBs are RIF’ing on all cylinders (BARC, UBS, MS, GS) putting hundreds of very qualified bankers on the market competing for jobs. This makes people on the buyside more cautious of negotiating better pays, also considering that M&A volumes are 30%+ down YoY so deployment stats are horrendous.
Bonus cycle is not far behind us (Jan-23) but can definitely see this fear dynamic at play come next bonus time.
Yep seen BB analysts end up at tiny boutique firms this year
Any updates on how London is going now? Are there still a lot of bankers looking for work and has the leveraged market picked up at all in July?
2nd year Analyst at a UMM debt fund (DL, mezz, minority equity) in Continental-Europe. I make ~€140k all-in, working 50-55h per week. Apparently, this salary is on the higher end in Europe, compared to peers (had a few HHs reaching out, tried switching to PE but comp seems significantly lower (MM/LMM)).
can i dm you?Im interested in this growing space
You didn’t give location which can be indicative of direct lending Aso comp. Also if the transaction mix is trending towards the low ends of the EBITDA range you mentioned then your salary seems spot on, if you are in a tier 2 or lower city.
AN1 in well-known MM debt fund in Continental Europe, targeting €10-40m EBITDA. Total comp promised ~€135k, given currently very quiet market I rather expected ~€125k (although fine as I‘m literally working less than 40h/ week in the past 1-2 months)
can i dm you?Im interested in those roles
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