For those currently on the private credit side, did you 1) apply directly, 2) utilize recruiters, or 3) use your network? If #2, what recruiters are actually good to use?
Also, how has the move been versus the sell-side? Seems like some shops like Blue Owl pay well below other shops on street. Would be curious to know more about experience, comp
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Bump
Lateral market remains soft. Hopefully, things will pick up soon!
On the topic of comp, Blue Owl pays roughly ~25k below market across all levels within the investment domain.
Base or total comp?
I was largely commenting about the base. Saw a few LinkedIn data points that supports my statement. In terms of TC, the bonus range is also compressed by around ~10-20%. Folks at Blue Owl tend to be “nicer” tho, if that matters
Can confirm, was recently quoted $125k base for associate 1 which is less than my current firm pays analyst 3s lol
Can you DM on comp? Just a few questions quoting an offer received
To answer your question, Private Credit is widely regarded as being less prestigious than PE or IB. This is because the DD and financial analysis is a lot softer and less detailed and you maintain no actual control of the deal or process. It is generally heralded that Private Credit Associate's role in the deal hierarchy is as the investment banking associate's "bitch".
I've honestly never heard someone call private credit less prestigious than investment banking. It is viewed as less prestigious than PE since it isn't as glamorized, but the work is relatively similar to PE, just adjusted to the opposite side of the capital stack.
Lol buddy, writing 65% LTV unitranche senior secured lines for Sponsor acquisitions is hardly prestigious. That is why people will often call the lender team the private equity sponsor's "dog" or their "bitch" or say things like "man, the IB team just put the lender on a friggin leash and walked him around times square".
Hope that helps.
Again, I have never once heard that. I wish you luck with your attempt at leaving sell side 👍
Bro is this embodiment of “🤓”
Piling on to say that I also have never once heard this.
Cope a little harder brother. I have never heard this take, but I have heard many friends in banking and PE looking to make the switch to PC. Sounds like your deferring to “prestige” as the only saving grace for having your hair fall out and not getting pussy after working 100 hr weeks.
Bumping original post/questions
Bump, who are the most active headhunters in the space? Henkel, DSP? Any outlook on firms hiring for associates in the coming months?
Henkel is good. Have also had positive experiences with Long Ridge and JHB.
With that said, I’ve also gotten a number of interviews applying directly to LinkedIn posts - can be a good option as long as you have a strong resume and apply within ~24 hours of posting.
Does Long ridge have legit roles? Seems they’re always farming CVs with generic LinkedIn jobs postings
Curious as well
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