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May 31, 2024
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Bump. Also has hiring for these types of shops picked up yet?
Assuming you're referring to private credit stuff like what Oaktree does then 1st year associate should be anywhere from $250k to $350k depending on performance and location
Not sure what you mean by private credit stuff and I haven’t heard recent Oaktree numbers but I would be shocked if their Opportunities/ SS strategies paid as low as 250k since the Ares / Centerbridge distressed / SS groups pay more than 350k for y1 associates.
Maybe you have different data points, but Ares LA has generally been known for the lower end of the spectrum OP mentioned.
Centerbridge credit is heavy on privates.
Quoted in the 250-300 range in last year for y1 associate seats:
- Brookfield SI,
- PIMCO
- Blackrock
- Taconic
Bain special sits - Gobuyside was quoting 275 - 325 in mid-2021, so assume that’s moved higher.
250 feels a touch low- thought it’d be more like 300-350 (assuming NYC/LA)? Also are most of these platforms multistrategy, ie combination of distressed/long short/merger arb etc?
These were all for NY and I agree are on the lower end, even for jobs targeting first job out of banking.
Blackrock, PIMCO, and Taconic have buckets that cover all those strategies but juniors are generally silo'ed. OP asked for comp for three funds without multi-strat credit hedge funds so figured they were asking more general opportunistic credit seats.
Blackrock, PIMCO are asset managers so aren't going to be paying private equity type comp y1. Brookfield underpays and Taconic appears to have some people starting as associates just over a year after they graduate college so may be skewing some of the numbers there.
Is this US? Any insides on London?
Headhunters have quoted $350k for Centerbridge
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