What’s Credit Like?
Interested in learning more about Private Credit, Direct Lending, Distressed Credit. Currently sit in MF PE seat but would consider moving for right opportunity.
What’s WLB like? comp? Career progression, etc.
Based on the most helpful WSO content, here's what you need to know about work-life balance (WLB), compensation, and career progression in Private Credit, Direct Lending, and Distressed Credit:
Work-Life Balance (WLB)
Compensation
Career Progression
Additional Insights
For more detailed and specific information, you might want to explore discussions and threads on WSO related to Private Credit, Direct Lending, and Distressed Credit.
Sources: https://www.wallstreetoasis.com/forum/investment-banking/jp-morgan-private-bank-compensation-ladder-lifestyle?customgpt=1, work life balance in growth, Private Equity shops with the best work/life balance, Quick plug for LMM PE re: Work / Life Balance, LMM PE Associate Experience - What is it REALLY like?
bump
Bags of sand
What's your reasoning for moving? Considering both PE and PC but leaning towards PC
It’s like PE but you get paid less and have no control over what you own
Maybe vanilla lbo lending or new issue.
Distressed guys are by far the smartest people in finance and the structuring of deals gets a lot more complicated than throwing a billion equity check and riding the industry growth and making money off leverage.
Lol 90% of distressed guys regret picking the asset class. It makes sense 2/10yrs, otherwise 5% returns for LPs.
Currently in PC. WLB is great, from personal experience and anecodtal evidence I think most people don’t usually average more than 60-70 hours a week, and that can actually be on the high end. Deals are super interesting, especially if you get into the structured finance or ABS space.
Could you share more about your current role’s day to day, fund size, strategy, average deal cycle timeline, etc.?
Won’t share too many details to not doxx myself, but generally my day consists of answering emails, sitting on DD calls, monitoring our credit portfolio, and working on modeling for deals. Deal timelines tend to be much shorter in PC as opposed to IB or PE, we can do maybe 40 deals a year on average
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