Apollo Dream
Anybody have any insight on the best path to be an associate at Apollo. Like what banks do they mainly recruit at and what groups in specific. I am only in college but this is my goal in a few year. Appreciate anything.
This is the most WSO thread in the history of WSO.
If you can clearly communicate 3 good reasons you want to work at Apollo over any other competitor, I’ll CashApp you $10.
Got em
If your sole goal is compensation, why would you pick Apollo over CVP, which pays more with a far better culture?
Assuming CVP = centerview, since when does a EB pay more than a top 3 MF?? Completely agree on the culture front, dont get me wrong. Also would like to point out 1 thing -- harder to make partner @ APO than @ CVP. HOWEVER, if you can make partner, APO blows pretty much anything out of the water, granted you stay at the firm as a partner/senior partner for like 15-20 years, which implies 25-30 years @ Apollo (if you join at age 24 as an associate + takes ~9-10 years to get to partner), which is no easy feat, don't get me wrong. If you stay there for 25-30 years and cash out carry checks, I'd venture to say you could possibly well over $100mm depending on
1. how carry gets taxed in the future
2. performance of funds
3. you stay there and don't get turned off by atrocious culture
No one at CVP is making that kind of $$
CVP ASO1 pay is definitely higher than or on par with Apollo with their $200k A2A bonus (which is a permanent thing going forward, not a one time COVID thing). CVP 100% pays more at the analyst level than Apollo.
I’d also argue that CVP has higher risk-adjusted comp (way easier to move up in IB than PE, less risk of burnout, uncertainty of tax treatment of carried interest in the future, no chance of fund blowups / bad investments dragging comp).
Agree with risk adjusted point, but this kid probably has balls and wants to go the APO route haha. Also, Apollo doesn't have an analyst program. They have an associate program.
Now this is straight from Marc Rowan himself: "first year associates who were previously paid $450k, will now get $550k instead". That's absurd, but those guys deserve they work their asses off. First year associate comp went up $100k, second year $150k, third year $200k. Associate comp also goes up ~$100k per year (meaning as you go from 1st year to 2nd year), so to put that in perspective, a 3rd year associate is now making $850k. That's damn near a million bucks, and for what a 27 year old?? Principals probably clip $1mm cash comp, partners maybe $2mm. Then there's carry. Seems like any banking gig is no comparison, that's just me though. Apollo is the highest paying shop, period. Maybe Tiger Global/Lone Pine beat it. PLUS, Apollo is the one anti-MBA shop. So u can make partner in 9 years
And a principal there has what like $15-20mm in carry, partner god knows how much
Apollo credit has an analyst program, which is what I was referring to. Also the $550k comment is including a one-time $100k COVID bonus, while CVP’s A2A bonus is a permanent policy going forward. ASO1 at CVP clears about $350k, so $550k including A2A bonus.
The average CVP partner in London made $5mm last year btw, with the highest bringing in $11mm. And thats in a location where they are much, much weaker relative to their competition than NYC. Firm overall made $22mm / partner in 2020 in revenue.
LOL yeah btw associates will not be making 550K (unless you're a senior associate then it's plausible). And your conclusion that a 3rd yr associate is making 850k is downright absurd and untrue. That is not what the new comp grid yields for juniors at apo.
Extraction at that scale is completely false and misguiding. Unless you've worked there, please don't provide definitive thoughts on what the actual pay scale is as you're totally off base.
Greedy little piggies have no idea that if APO was such a dream job then 40% of associates would not be desperate to BAIL!
Plenty of HFs beat those numbers
Dude, the Apollo associate pay bumps were temporary! They were a retention bribe because 40% of associates bailed last year! Going forward associate comp. will again be 400-450K for first year and so on....
Isn't compensation and pay the same thing?
Plz fix thx
Can anyone answer the question?
To answer un-ironically, if you're asking this question, it is already likely an uphill battle. Apollo primarily draws from candidates with top target college backgrounds, who ended up recruiting into generally acknowledged top groups on the street in terms of prestige (i.e. Goldman FIG) or groups know for having a similarly sweaty culture (i.e. Moelis).
Like others have said, while they don't give return offers for their PE summer interns, it is a gold stamp for a first look when PE recruiting comes around 1-2 years later. More importantly you should be very clear with yourself about why this is your goal. Is it the money? Is it the prestige? There's plenty of strong funds if you're genuinely interested in investing and more humane ways to earn comp. -- sweating out your colleges years/early 20's for such a specific goal isn't worth in IMO but YMMV
Sorry, to clarify I meant associate not analyst recruiting. I'm coming from a nontarget background to a lower BB and for me if I could get Apollo that would mitigate a lot of the red flags on my profile for post-MBA recruiting, not to mention getting into GSB/HBS/W. I thought that maybe given the absolutely terrible reputation and culture that they may be more open to broader recruiting than just Harvard and GS TMT-level backgrounds.
Yup - referring to associate recruiting as well. Just go take a look through Linkedin to get a sense of their associate class. I'd be careful to make a distinction between the culture causing a lot of churn vs. causing Apollo to widen some of their typical criteria for associates. Still a ton of HYPSW talent coming from top groups who are willing to grind out the two years -- just churning through faster than mgmt would like.
any insight on Apollo REPE?
They take someone from PJT M&A and/or RX pretty much every year.
GS FIG used to feed into the generalist associate pool pretty frequently but since APO broke out the FIG team, seems like GS FIG mostly goes to the FIG-focused team
They took 2 from HL RX last year
EVR Rx sent 3 kids to APO this year -- 1 PE and 2 HVF I think
Just for everyone’s benefit, MF / UMM PE do not necessarily say to headhunters “we want 2-3 kids from GS TMT / FIG, PJT, EVR, etc.”
They end up selecting the resumes of kids from those teams to interview because they were all top notch candidates from the initial banking pool. After you get the interview, it really does not matter what group or bank you’re in, but how well you articulate why you want to work at a place like Apollo and if their investment strategy fits your way of thinking.
If you do a search across LinkedIn for all the MF / UMM Associate classes, their groups / banks are pretty diverse. I would caveat by saying that there is obviously a big concentration of top banks / groups at the MFs and MM firms are rarely represented (with the exception of HL RX at Apollo).
HL RX isn’t a top group?
Yeah but HL is a MM
.
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How does their classic associate look like?
You do not want this
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