Rigid culture but they're really good to those who fit in. Fair amount of politics like at any established shop, but folks at the junior level are generally close with each other. Great from a performance standpoint.
Comp: Associate - $230k, Sr. Associate - $280k, VP - $450k, Principal - $750k. Not sure on carry -- pay is 50/50 split base and bonus but they are one of the few shops that do 100% base salary after the VP level.
Sure, just old school -- expectations of face time (more for subordinating associates), a hierarchy which equates to status, etc. -- fairly controlling/at the mercy of partner (especially on a deal), but definitely not as bad as it could be. Would say it's 75th percentile in that regard, but if you get to VP, it drops off (but politics tend to kick in at that point).
I’d give them a consideration. Yeah I’ve also heard rumors about recent performance issues as others have said, but it’s a still a brand name that’s done some interesting things. Also offers direct promote if that’s something important to you. Get a feel for the culture and see if it’s a fit and then find some very tactful (use EQ…) way to get them to talk about recent performance. Then make an informed decision.
Performance has turned around - that period of weak performance was due to a couple bad investments that have been more than outweighed by some great outcomes on others.
Also heard that comp is a higher now due to some recent pay increases. Around ~$275K for first year associate and ~$450K for first year VP (+carry at all levels, even first year associate). Also get access to levered co-invest.
However, heard some pretty negative things about the culture - hierarchical and political (as someone also mentioned above).
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Rigid culture but they're really good to those who fit in. Fair amount of politics like at any established shop, but folks at the junior level are generally close with each other. Great from a performance standpoint.
Comp: Associate - $230k, Sr. Associate - $280k, VP - $450k, Principal - $750k. Not sure on carry -- pay is 50/50 split base and bonus but they are one of the few shops that do 100% base salary after the VP level.
Thank you, this is helpful. Do you mind elaborating on what you mean by rigid culture?
you mind if I PM you on this?
Associate comp is 200k less than top IB ASO1 pay... crazy
ASO1s at a GS/EB getting paid the same as UMM VPs these days wow - not including carry at least
Sure, just old school -- expectations of face time (more for subordinating associates), a hierarchy which equates to status, etc. -- fairly controlling/at the mercy of partner (especially on a deal), but definitely not as bad as it could be. Would say it's 75th percentile in that regard, but if you get to VP, it drops off (but politics tend to kick in at that point).
Very insightful, thank you! Are those comp numbers recent? Just seems low. Mind if I PM you?
Please feel free to PM -- comp numbers are 2 years old, so probably +10% at each level is my guess
Their fund returns have been garbage for the last 15 years
I’d give them a consideration. Yeah I’ve also heard rumors about recent performance issues as others have said, but it’s a still a brand name that’s done some interesting things. Also offers direct promote if that’s something important to you. Get a feel for the culture and see if it’s a fit and then find some very tactful (use EQ…) way to get them to talk about recent performance. Then make an informed decision.
Performance has turned around - that period of weak performance was due to a couple bad investments that have been more than outweighed by some great outcomes on others.
Also heard that comp is a higher now due to some recent pay increases. Around ~$275K for first year associate and ~$450K for first year VP (+carry at all levels, even first year associate). Also get access to levered co-invest.
However, heard some pretty negative things about the culture - hierarchical and political (as someone also mentioned above).
Would second (or third?) the last part... known for being hierarchical and political. Somewhat territorial, not exactly a "supportive" environment.
Nesciunt aspernatur rerum pariatur sit molestias. Quasi velit eligendi ad enim quis eum consequuntur omnis. Consectetur deserunt soluta et dolorem eum minus similique. Quis veritatis et eum assumenda nobis. Labore voluptatem omnis aperiam sed dolorem assumenda vero quam.
Fuga voluptatem sapiente quia officia vel sint libero sint. Consequatur neque perspiciatis consectetur quam. Aspernatur ab eligendi quae officiis aliquam sed. Nesciunt aut et sed cumque. Est et ipsum dignissimos voluptatem ratione sunt.
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