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Career Resources
del
for real it is existential 💀
del
Prospect vs Incoming Freshman. A true battle of titans.
Bx partners: 20mm+
EB partners: 5-15mm
HFs: 5-30mil (Varys greatly year to year)
Quant: ~2 mil. Comp plateaus very early
Consulting: 500k -1mil and that’s only if your Bain Bcg McKinsey
Do partners in consulting really get paid that "little"?
500k would be a brand new partner. Median partner at MBB or T2 is somewhere in the $1-2M range. Median B4 partner should also be north of $1M on the consulting side. Little lower if you're an audit partner but those guys just sit around collecting recurring checks so I don't think they're complaining.
There’s partners at CVP making 50
crazy, but how do you know lol?
which begs the question, why is there such an inflow into quant by students?
Because like one in 100 analysts make that comp. The attrition is much less in prop trading
Because the work is actually interesting there.
If you haven't realized yet, most of finance (aside from quant research, SM HF, dare I say even venture) is fairly process-based and pseudo-intellectual. A lot of shit to be shoveled. It would do you well to realize, when planning your career, that certain areas of finance – notably: IB, consulting, large platform growth shops (Insight, GA), and MF PE (aka "pain tolerance investing") – all have substantial day-to-day tedium. On top of the mindless nature of the work, many of these fields also are known to have very poor WLB. If you look at a top sweatshop like Apollo or Warburg, even the partners are slugging out 80 hour weeks.
Know what you're getting into. Don't get lost in the prestige whoring game and end up losing sight of what matters.
Mostly firm dependent. I was at an EB and am in MFPE now. Several MBB friends
MF PE comp is not nearly that high. Maybe some of the more senior folks aged 50+ get there, but only a few per PE firm. Average 40 year old partner probably doing in the range of 2-5M
Average EB partner try 1-3M in an average year. Comp at EB base of high 6 figures with 20-40% of TEV of deals you close. BB pay less. Rockstar year with $10B of M&A you brought in...thats how you hit high double digit comp
MBB consulting pays 1-2M at the partner level, with upside based on $ you bring in. Main thing here is they have more guaranteed comp and less individual % of fee revenue, as they operate on more of a profit share model
HF I have less insight into. Hugely dependent on your P&L. Can do $30M or $0M. And you can get fired much easier than any of the above
This is correct. Numbers above from "financesigmachad" are completely misinformed.
How much would a rainmaker like Jim Donovan at GS make?
At an EB
Base is not high 6 figures at partner level
More like 500k
I mean I'm sure the #s are including carry. Pretty sure partners at the private MFs have (on paper) 10-digit carry allocations per year.
What are you, a college freshman? These numbers are so off it's not even funny
Heard the commodities head at citadel got paid $900m or something crazy, maybe it was Jane. Unsure
Did hear this about Citadel
.
so many different types of partners
like in big law, there's non-equity partners and equity partners (have to buy in, have ownership) and there's like an avg 3x diff between the two
would prob say hedge funds though
Dude you need to just chill and enjoy college. You shouldn't try to choose a career based on what pays the most. Just try to figure out what you actually like to do. Also you have to realize that making to the senior level in any sort of financial career will be a tough journey even if you're from a target school.
No firm is going to pay you solely for being a partner.
You earn based on what revenue you can bring. You can’t sit around in meetings bringing no clients/money expecting Blackstone or CVP to pay you millions.
yeah makes sense, but i assumed they have a cap for what partners make. 50 million seems egregious
yeah makes sense, but i assumed they have a cap for what partners make. 50 million seems egregious
There isn't really a "cap" per se. If you generate revenue (or profits, depending on the intelligence of management), you can get paid your cut. For example, if you are a real rainmaker and you negotiate for you to be able to allocate 35% of your team's revenue as compensation as you see fit, you'll get paid a lot more (ie - Milken). But if you are just a "normal" partner, it tops out much lower.
When you are talking partner/MD/etc level, it is hard to give generic numbers because there are very fat tails. A good answer will acknowledge this and give you distributions.
Blud has singlehandedly set Amherst back by a generation. Get off the couch and hit the gym so maybe you can get some play in college and stop hyper fixating on this shit. Or get a job. At least do something of use. Fuck me, even playing video games is a better use of time than this.
.
LACs are trash
Different strokes for different folks... some people value the tight knit community and liberal arts education. Obv it's a tough case to make for any WASP over HYPSM, but if compared against like a Cornell type school, it becomes worth considering imo
I guess but personally I wouldn't take an LAC over any Ivy, Ivy+ (MIT, Stanford, Duke, UChicago, Northwestern, JHU, Caltech), or a target (Georgetown, Michigan, etc) because LAC are vastly inflated w/ nepo hires. You'll also be much more prepared for finance coming from any of the schools that I mentioned above (barring maybe Caltech and JHU).
could you kindly elaborate? but i agree so hard. it's like an expensive day care, and not really an academic institution with an ample mission like research.
Perennially, it’s the firm you founded not joined
a lot of words in these thread but nobody is providing numbers. the only person who provided numbers got MS and was called a freshman for such inaccuracy.
regardless of whether it's important or not, it would be interesting to learn the ballpark of what partners make in different industries.
Providing numbers to a question like this is a fundamentally difficult task due to the high level of variance. In some fields, this variance exists not just between individuals, but between years for the same individual. I know, for instance, HF managers who will make >$1m in a down year, but clip almost an order of magnitude higher in a killer year.
When evaluating careers on their earnings potential, one must look at not just the average but also the shape of the distribution. Just as investors care not about nominal returns but risk-adjusted returns, a properly rigorous consideration of career earnings potential must look at the variance-adjusted mean earnings. Arguably, any attempt to evaluate the mean without considering variance (risk) is foolish at best, and dangerously misleading for prospects at worst.
well, it would be good to hear about the distribution then. thanks for providing data on HF.
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