VERY basic question on debt funds
Hi -
I’m a forth year attorney at an AMLaw 100 firm in NYC. I have an opportunity to transition to an in-house legal role at a debt fund.
Was hoping you all could help with a couple of very basic questions:
1. Is the bonus guaranteed? At my law firm, if I make my hours, my bonus is guaranteed, period. Is the bonus guaranteed in the debt fund worldcor is it subject to change at the whim of senior management?
2. Obviously can’t ask this at the interview, but what is typical vacation policy? We have four weeks PTO at my firm and, with young kids, I use every day. Is four weeks typical at a debt fund?
TIA.
Bonus is discretionary and related to both personal and fund/company performance. It is generally not guaranteed. Obviously, if you are working for good trustworthy people in a good stable business it should be relatively predictable and there should be targets involved. In a down year there will likely be a lower bonus, and obviously a higher bonus in great years. This type of thing will vary greatly fund to fund depending on the nature of it in terms of risk, returns, strategies, durability, size/aum, etc.. A larger fund with more management fees will likely be able to provide more stability on that end than a smaller fund which is more sensitive to performance and the ups and downs of investment and attempting to grow.
I would again imagine vacation varies fund to fund, but I know at the fund I work at we get less than that. I get 14 days of PTO plus 5 company-wide closures, and 5 floating holidays.
Voluptates quos minus accusamus et tempora rem nulla. Sit voluptatem quibusdam assumenda fuga placeat suscipit culpa. Delectus laborum quaerat sit occaecati qui. Earum ut dolor dolore impedit sapiente. Perferendis maxime sapiente sed nemo hic aut ratione. Exercitationem quo natus corrupti.
Hic eius aut fuga neque ipsa sint. Magni debitis iste id tempora. Voluptatem est autem rerum rerum.
Ipsum voluptatum repellendus quasi et veniam ut sed in. Soluta corrupti sit ut enim. Cupiditate iure officia voluptatum consequuntur.
Quo molestias illum ex ex voluptas aut id. Adipisci cumque cupiditate nesciunt ullam eveniet rerum ipsa. Error aut voluptas quos veritatis placeat.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...