Private Credit / Direct Lending Comp and Progression
Is it worth leaving a low BB to go to a direct lender (think Ares, Antares, Golub) for a ~25% pay cut? Also, what does senior compensation look like? How far off from a IB MD?
I get the better work life balance and increasing mkt share in LevFin space but would think a pay cut to the buyside would be closer to 10% vs. ~25%.
Bump
different job, skill. I would do it because life is about more than just money and I think investing is more interesting but each to their own. I would think that you are already at the associate level in a BB which explains the large delta in pay.
Feel the need to make it clear that seniors in direct lending can make millions, and you're more likely to progress in DL than IB.
What is the all-in comp you're being offered?
Interested to hear this as well
~190k, all in
I'm guessing that's Antares then? They're known for underpaying
Buddy of mine works there and said they just massively redid all their salary / bonus ranges for the company. Would imagine it’s a lot closer to BB comp now for associates
Curious too
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BUmp
Can someone confirm whether my is comp below/in line/above average for my experience/role?:
- 160k base with bonus of up to 20%
- Work as an underwriter at a LMM specialty finance lender that does asset based lines of credit and term loans
- 6 yrs prior experience in commercial banking
- Fully remote working avg. 40-50 hrs/week
seems in line to me
Your base is great. Bonus is low.
Thanks. What do you reckon a more appropriate bonus % would be for my role? I tried negotiating the bonus % higher initially but they were pretty set on up to 20%. My prior job had me at ~100k base with avg. bonus of 15% so didn’t want to risk losing the offer given the significant jump in base for me (and full WFH).
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