Work in IB what is Private Credit like is the grass greener?
Currently work in IB but considering private credit as an exit op. How much traveling is there in more senior levels, what is comp like, and hours like Analyst through MD.
Currently work in IB but considering private credit as an exit op. How much traveling is there in more senior levels, what is comp like, and hours like Analyst through MD.
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Interned at a well known PC shop and am going to a full time PC role, so may be able to give a bit of insight (take this with a grain of salt as I am obviously still very new to the industry. Comp at most well-regarded shops, in terms of base and bonus, seems to follow PE pay scale. Can’t speak to carry compensation at higher levels. Hours are probably similar to PE, maybe slightly better, depending on what kind of PC you go into. If you’re funding PE LBOs, you’ll have shit hours bcuz you’re working with PEs. Travel probably varies by team and firm, I personally will likely do DD trips maybe once a month.
$250-350k+ all in at ASO level, probably $500k+ VP, MD's usually high six figures into low seven figures. 50-60 hour weeks on average, ramping up when it's a sprint. This is for MM DL, higher comp and longer hours for MF and opportunistic/special sits.
Ok so some good numbers for a 50-60 hour a week job. Hows travelling like? or mainly just zoom?
Travel doesn't really start until you take on origination/sponsor coverage when you are a senior vp/director/MD. Even then it's probably monthly rather than weekly thing, unless you're the group head or something and take point on fundraising. Some firms also separate out underwriting and originations teams.
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