Portage Point Partners

Interviewed with them some time ago. They seemed like a pretty good shop with lots of deal flow. The team is growing a lot but the comp is below street for base. However, there is a quarterly bonus that bumps your pay a lot (~$200K+)

Thanks! Can you shed any light on the interview process? Happy to chat offline if you prefer

How’s their m&a team?

All of its IB looks to be Rx-based (distressed or special sits) given the background of its senior team

Have some friends there and interviewed as well (turned down offer). They do incredibly well in the space and have grown like a weed - hence the expansion into the more traditional "IB" space. They do have lower base salaries, but with the quarterly bonuses, it pushed comp up quite a bit. The bonuses are tied to your billed hours... so this flexes A LOT... and sometimes you need to show good faith, so you're "asked" to bill less hours than you pull (I'm sure it works the opposite direction as well). 

So, given that your bonus is tied to how many hours you put in (say one person could do a task in one hour and another in two) you're incentivized to work more than maybe you would like or need to and this leads to an incredibly toxic culture.

But, Mat Ray is a killer and a young gun who has been rocking it, so not a bad person to put your cart behind.