What has been your total compensation progression in your career?

If you read it properly they’re talking about IB comp progression. 

Why do you think it’s a lie?

Great Financial Crisis

aka 2008

While it seems unlikely (when compared to the average path) it is in line with a good/steep trajectory in the PE/HF world (the latter part of the comp). I have seen (and experienced) large increases similar to above in the HF space. If you can get to some of the senior levels (or if you can be directly tied to PnL) there is serious competition and comp pressures (and if you are tied to PnL you can have very big years). My comp was very slow moving early on (different industry to start, then a junior person at a fund) and when I started really outperforming my peers it jumped very quickly, so my years 5-10 in my career were completely different (rate of change) than years 1-5, where it is usually the opposite (fast percent increases early on and then flatten out)  

Again, if you look at this relative to what average is, then it looks out of line. No idea whether this person is full of it, but you are going to get selection bias on these threads. 

I worked at a MF PE. But the comp explosion happened after transition to a HF.

PeRmAnEnTiNtErN

was year 7 a stub year for you?  Assuming a start in August?

Yes

Went from an analyst at an independent sponsor to equity partner once we raised a fund. Got paid pretty low for years but stuck it out.

Yup

Hours have gotten slightly better but control over my hours and being able to plan my days out have become significantly better

Decided to stay in banking because I enjoyed my team, overall liked how the first couple years had gone and did not view finance as something I wanted to do forever. So figured I’d make as much as possible over the next ~5 years then leave, and banking is what would let me do that. I did talk to a number of analysts that I had started with (i.e. 2nd and 3rd years when I was a 1st year) who went to the buy-side, and I felt banking was a better pathway for my current interests and goals

Americas, non US

Could you talk abit more about why you decided to transition to a SWF post MF PE? And how have you found the investing experience so far vs MF PE?

Sure. I decided to move out of MF PE as I had no interest in pursuing an MBA in the US or Europe, which was a requirement to progress my career to the VP level at the PE fund. Most others MF PEs with offices in my country asked for that but the SWF I work for did not have that requirement. I also considered some MM and LMM PE funds but the offers could not compare to the SWF in terms of deal flow, capital to invest, brand name and compensation. I was motivated to join as part of a new division growing rapidly in my region and globally inside the fund. AuM in the division and in my regional team grew by 3x and 5x respectively since I joined, while maintaining very healthy IRRs.

The direct investing process now is very similar to what I did before at the MF, although I am in a very different sector. Nevetheless, the internal approval process is quite different and the organization itself moves more slowly. I have been enjoying it though, people are much more friendly, hours are super reasonable unless when in a live deal, but even then rarely work more than 70h/weeks and can't complain on compensation. No carry though, which stinks, but you can't have everything in life.

You mean 200%. Plz fix. 

that kinda sounds like MM pre pay bump levels

Looks like he was at a MM/boutique. Smaller firms have less structured promotion timelines.

if you believe in yourself and willing to put in work, you can get senior pretty quickly at a small shop