Who makes more: MD at BX or MD at GS?
I'm curious who you would expect to earn more in this situation: generally, a senior at Goldman or their counterpart at BX or Apollo or wherever?
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BX comp is absolute shit, Apollo is known to pay their MDs north of 25-30MM including carry. BX likely averages around 12-20MM.
GS soyboy over there would be lucky to make 5MM and that's if he's a rainmaker.
Right? Total trash...
only on WSO will a kid call 12-20mm thrash
DELETE
Partner is above MD...
What? $25-30mm in total carried interest sounds right, not $25-30mm per YEAR. Partner at a MF still makes more but it's like much harder to get there vs an MD at a bank.
https://www.efinancialcareers.com/news/2021/02/pay-at-carlyle-and-apollo
Depends Goldman’s highest level isn’t MD but it’s actually Managing Partner. There was an article explaining how much they got paid and stuff. I think 1 million guaranteed salary and a special bonus pool they take and also they can invest into the GS funds which is pretty exclusive. But even GS managing partner vs MD at Blackstone/Apollo, PE wins every time honestly just because of the carry and how little it’s taxed.
BX/Apollo VPs have fun shouting on GS MDs for not getting a deal structured the way they like. GS MDs will go to their moms for some consolation afterwards. If BX MDs step in, the GS MD will start hearing final boss music, and you will witness a grown man peeing his pants before the BX MD even starts speaking. There's a reason that black and white picture commands so much respect; it is because the street knows who has the spanking rights and who makes more. Steve Schwarzman might seem like an innocent boomer who can't say a coherent sentence without a 100 'uhs' but when he's in the office, he lines up the BB MDs and spanks them to their bones. Guide to becoming a multi-billionaire in finance right here. Keep spanking the peasants on the sell-side.
I wonder why those who can make MD as GS never made it to buy side?
Some people just enjoy getting spanked
Some people rather be a salesman than an investor. Crazy, I know
The successful MDs get a glimmer in their eyes talking about deals... all they want to do is close deals, they don't want to figure out if it's a good investment or have to run the company afterwards
Well, the jobs are quite different for one. Bankers manage processes, and in PE you're an investor. The latter requires much more (almost exclusively) diligence and also as an MD at a PE firm your job is tied to how well your investments do. Senior bankers just have to bring in business and oversee the execution from it and they get paid.
The pyramid for a PE firm also narrows much more quickly as you go to the top. Banks have Analysts, Associates, VPs, Directors and MDs, whereas PE firms basically have Associates, VPs, Directors and MDs/Partners, and moving up is much harder to do. The economics of private equity also mean that senior folks are both structurally tied to fund investments, and are much less likely to leave given the work load at senior levels is much smaller, so moving up is not only more difficult, it's also much slower given that senior folks are much slower to retire.
The probability of making it to MD in at a BB/EB vs. being a partner at a mega fund is much higher. If you probability weight the standardized income levels of senior folks at either, the difference will appear much less stark. That's exacerbated by the fact that people here have IMO unrealistic ideas of what an "average" senior person makes in either case.
GS MD here - can confirm we get spanked by BX.
Hey Mr. Solomon didn’t ask you to speak up
Is this a Peaky Blinders reference ?
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Most people on this forum don’t have the talent to make Senior level at Northwestern Mutual, let alone Goldman.
"I'm currently a sophmore with a 3.1 at George Washington / Mississippi Tech / Penn State / Drexel. Chance me for PJT/CVP/GS TMT?"
Depends on role lol what is this question
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Yes, you'll leave directly to an island 💀
And donate 10% of your comp for “services” provided by the owner of said island 👀
I don’t get you picking the prestige firms.
They don’t pay as well as the “name discount”
AQR
Jane st
Apollo
CD&R
Citadel
^ these will bring you money, not BX or GS. You just do one of them for the cv boost
AQR is still that good?
No, I have no idea why you would include aqr if only focused on top HF comp.
If you're going down this road you're missing the sexiest one - RenTech
Lets be real. No chad, thad, or brad on this forum is qualified for rentech lmao
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