Private Credit comp progression
Hi there,
Any insight into how private credit pays (particularly London) as you become senior (at the MFs)
Quite a bit of info regarding comp at junior levels but what about principal/MD level? I’m assuming it’s around the £1-2m mark but not 100%.
Thanks in advance!
Based on the most helpful WSO content, private credit compensation at senior levels, particularly in London, can vary significantly depending on the firm, fund size, and structure. Here's a general breakdown:
Principal/VP Level:
MD/Partner Level:
While these figures align with expectations for senior roles, it's worth noting that carry and deferred compensation often make up a significant portion of the total package at these levels.
Sources: London Private Credit Compensation 2022, Private Credit/Debt/DL Comp Variation, London Private Credit Compensation 2022, Private equity comp in London?, Q&A: Currently at a Credit Hedge Fund
My gf works at large US PC shop, MDs make $1.5-$3.0m pre-carry
Principals start at $800k
Thanks for the insight. Didn’t realise it was that high pre carry.
Would caveat that she works for a place that is known to pay well (definitely not the norm across MFs) and $3m is for relatively tenured MDs
Good amount of large PC shops nowadays. Are we talking Blackstone/Apollo/Bain type or Blue Owl, Golub, Oaktree?
is it a MF?
Thanks for the intel!
I heard that Apollo was paying base salary of 185k for principals and 500k for MDs but that was a few years back. As for bonuses, I understand that principals were getting 100%-200%. Not sure about the carry. I think they invest insurance money so maybe no carry at all, but I am not 100% for sure.
ASO 1 at Apollo is c.£300k so would assume Principal figures are closer to the post above
Bump - have heard $1mm ex carry is directionally right for MD at non-MF
thats pretty good - thats similar to pe right?
Del
Apollo pays $300k base for prinicpal role in the opportunistic credit strategy. I dont work there but have recruited and moved to final stage. This is as of few months ago.
Thanks. Do you have any idea how bonus and carry factor into this?
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