Change in Lifestyle - Corporate Banking to ECM/DCM/Direct Lending/Private Credit
Hello guys,
I am at a tier 2 Corporate Bank in NY and a couple of my co worker's have left to BB's in ECM and DCM and they said the switch isn't that hard once you reach associate and have a bit more clout. Only very few of us make it to the buy side and we only ever land in Direct Lending and Private Credit.
I heard Direct Lending and Private Credit can be chill buy side jobs that aren't as cut throat as a MF PE shop for example and given that my current hours are chill and I am paid well (50-60 hours per week 80% of the time), making $110k for a 1st year, I would like to keep this gravy train going for as long as possible.
If I do exit eventually, as a senior seeing as these divisions seem likely to be my fate, I was wondering, how drastic would my change in lifestyle be? Are seniors pulling in 100+ hour weeks on the regular in ECM, DCM, Direct Lending or Private Credit.
Not asking if its possible or what it would take to make the jump, just wondering what the lifestyles are like in these fields the more senior you get.
So curious s about Associate, VP and MD hours and culture in these fields. Would be nice if you also list what pay is like
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