KKR/APO/BX vs. Tiger Global
Alright given the fact that there is minimal information on here regarding this topic, I think there should be a thread started to provide a bit more color regarding the top MF (APO/BX/KKR) and the top SM (Tiger Global). Why is it that so many associates leave the aforementioned MFs for Tiger Global? Given the fact that APO is the highest paying firm out there and there is a clear path to partner, are the economics at Tiger Global really that absurd that associates are leaving? Like what is the comp trajectory at Tiger? I keep hearing that they pay their late 20 year old/30 year old analysts eight figures. Is this true or simply merely rumors?
here we go again...every month, like clockwork
All of it is true. All you have to do to get to the 8-figure payday is become SA at Goldman Sachs. I am not answering any more questions, do not ask any more questions.
This is very helpful thanks
Yeah. The economics are so fucking good man. Like if you’re down >50% on the year, you’re getting paid $10m. Amazing right? My buddy lost >10% on big notional at another big SM and got fired but now he moved to tiger and holy shit he’s getting paid 50x more than he did anywhere else. And he’s losing even more money. It’s like a utopia where you get paid to exist no matter returns right? What an awesome place this holy grail called Tiger.
Seriously- are people so fucking detached from reality into thinking 7 fig comp comes so easily?
Tiger is so great that even if your position moves against you 97% (CVNA), they won't fire you! The partner that led that investment "resigned" of his own accord earlier this year!
/s
I mean based upon management fees alone, they manage 125bn across public and private strategies so you can see how the economics works out for 7 figure payouts in down years. Is this shop just single handedly the outright ticket to unfathomable wealth??
They don't manage 125B anymore lol.
Grow the fuck up. Comp isn’t a function of management fees alone.
I don't think they're eligible for the management fee until they hit their highwater mark
I love this post. Minimal information on this topic - super comp hypotheticals only 50 people in the world will have to decide between - making 8 figures before the age of 30 by just being on the path - perfection!
here are rough numbers
You go through 3 year bx analyst program or do 2+2 ending with apollo associate
then get golden ticket to tiger
first year = 500k-700k
Generally over next few years +50/100k
after 2-3 years and you start making public pnl or running substantial deal processes on privates then you will see 750-1mm range and are mid/ late 20s
by the point you have worked 5-7years and become a partner / early 30s - there is pnl linkage and sky is the limit. You can do 1mm - 10mm+ depending on where rates go
So, same numbers as your big three multi manager
I will give 10 to 1 odds that nobody will ever follow the career path you just laid out
some people will by definition
Not doubting you but how do you know this?
Numbers seem pretty low for the level of risk vs staying in PE?
This former Tiger guy bought a ~$14mm mansion in Malibu at 35, don’t think anyone staying in traditional PE route is doing anything close to that
https://www.dirt.com/gallery/moguls/finance/carter-van-domelen-house-malibu-1203563771/
I turned down an offer from there. These numbers are not correct. 2019-2021 were abnormal years, but comp was much higher.
Higher at all levels? and how much higher exactly?
So why'd you turn down tiger? Thought that was everyone's dream job or atleast the people here definitely make it sound that way
What would you turn down TG for today? Would appreciate some names, thanks!
Also could you comment on relative comp levels and how it’s structured at analyst vs PM/partner at these funds?
for those asking for good funds that our candidates tend to apply to:
marshall wace
two sigma which has fundamental roles
de shaw's fundamental team
coatue
maverick
viking
lone pine
schonfeld
all the top MMs, citadel or point 72 or baly or surveyor or ashler
This makes sense, all those funds are faring well during this year's drawdown. btw, i believe schonfield and marshall wace are also multi managers
maverick and lone pine are not doing well this year
Any idea how big two sigma and shaw's fundamental teams are (aum-wise)? Surprised to hear they're attractive, would imagine that they're miniscule efforts compared to (and take a back seat to) the firms' bread-and-butter systematic/quant teams.
No clue but if helpful none from my firm have gone there yet, only interviewed. Agree with your overall assessment but I think brand name matters a lot to ex-PE colleagues looking for better work-life balance. Even if it's not front and center to the quants. Long-only shops are usually good spots too but I'm guessing seats are limited given the current macro now for the likes of Fidelity, Capital Group, and Wellington.
I don’t know about two sigma but Shaw is no more just a quant shop. Their AUM is spread across so many discretionary strategies and l/s is just one of them. That’s aum. Maybe the returns all come from the quants and everything else sucks cause I’ve never seen PE guys shooting to work for them. but I come from the “tiger is god” days.
Large non-tiger growthy/techy funds were very desirable. Talking about dragoneer, altimeter, sequoia GE. Not sure how they’re faring nowadays (havent seen any public figures) but i’d imagine they’re hurting as well.
Altimeter got crushed. Not sure on Dragoneer but at least they did some structured stuff which should have faired okay.
Mav is going FO
source?
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