Multistrategy / distressed credit compensation
Can anyone please discuss how compensation progression generally looks at large cap distressed / multi-strategy credit HFs?
I have an offer for an analyst seat on the credit research team for a large multistrategy / distressed credit focused fund (10bn+ AuM.) A majority of the AuM is in high-/ drawdown vehicles and I would be focused on those vehicles. A firm in the range of / Silverpoint / Knighthead / Redwood / Monarch / King Street / Sculptor / DK in a T1 city.
I'm coming from a private equity associate experience level (2nd) so am not clear on what compensation progression really looks like as I have limited friends in industry. Y1 target compensation is healthy ~400k just curious what go-forward progression looks like as I evaluate the career against continuing to do PE. I like the nature of the work and I did RX at one point in my career but not clear on #s. I've seen some commentary on credit HFs this forum, but they seem more focused on performing / CLO credit seats.