Would anyone be able to comment on comp ranges at private credit funds ranging from associate through partner, including for different strategies (i.e. direct lending, mezz, distressed, etc.) and fund sizes (mega fund, MM) if possible? Would also be interested in how they compare to PE at firms that do both.
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I’m at one of the large more credit-oriented managers (Ares/HPS/GSO etc) and got ~$230-240 all in my first associate year, i.e. bonus paid 3.5 years out of college. Would definitely be interested in other data points here since it feels like there’s less out there than for PE/banking but I definitely think you’re generally taking at least a slight discount to what pay would be in either of those roles.
Typical hours probably 9-9 Monday to Thursday and maybe 9-6 Friday so normally high 50s/low 60s per week. Normally very little if any weekend work but it does happen from time to time, and then if you’re under a tight timeframe on a deal hours can definitely creep up to or over 70. Background-wise I came from a debt-focused capital markets/banking role at an IB. I wish I could be more helpful on chances of or advice on making the switch from CB. Anecdotally I’ve heard it definitely happens and that your chances are much better at senior-focused direct lenders but can’t really give any thoughts based on personal experience.