Currently at a MM Balance sheet bank that heavily focuses on lending in a similar role. Seems like this position aligns closely with what I already do.
Would this position give me a better entrance into MM PC? Additionally any insight on bonuses and base for CLT?
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Based on the most helpful WSO content, transitioning to a role in BofA's Leveraged Finance Credit - Acquisition Finance could indeed provide a stronger platform for entering middle-market private credit (MM PC). Leveraged finance roles at a major institution like BofA often offer exposure to larger, more complex deals and a broader network, which can be advantageous when pivoting to private credit. Additionally, the brand name and deal experience from BofA could enhance your resume and make you more competitive for MM PC roles.
Regarding compensation, BofA recently raised junior banker base salaries by at least 10%. While specific figures for Charlotte (CLT) aren't detailed in the context, typical base salaries for analysts and associates in similar roles at major banks range from $168K to $260K, depending on seniority. Bonuses would vary but are generally competitive, aligning with industry standards for leveraged finance roles.
Sources: Have I messed up my future?, Q&A: Barclays IB to MM Private Equity, Never mind the hours, how do people stand the type of work in banking?, Q&A 2.0: 3rd Year BA/A/AC At MBB Going To UMM/MF This Summer, Q&A : Credit (DL, SSG)
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Quite familiar with that team. It’s part of BofA’s Enterprise Credit division (not Levfin/IB) and is MO role
Bonus numbers like 10k? Base 100k? Any clarity there at all?
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