Are there PE funds with pleasant cultures?
I'm currently an IB analyst and I like the work (sort of, it's getting old as i'm learning less and less), but I don't really like the culture of high finance so far. Maybe it's just my group, but things are very insular, non friendly between juniors and seniors and needlessly competitive. I imagine I would like PE work, but I want to find somewhere with a positive culture where I can be for a while. Somewhere people still work hard, but it's just generally pleasant.
Any idea if this exists anywhere in PE?
Speaking about London, and clarifying that "good culture" doesn't mean short hours, but rather a friendly environment where most people interact in a positive way and are happy to occasionally meet outside of working hours etc, I would say that almost every fund has "good culture" with the exception of a couple where the culture is wrong all across the firm, and then some specific teams here and there (unfortunately a bad Director/Principal can ruin a team culture pretty easily).
If you want "no competition" and maybe shorter hours, LMMs and Family Offices are the way to go!
Also like in many parts of the world in addition to smaller size, the more regional you go (ie. think not huge global financial centers), usually the "better" culture gets. Hours are often shorter, pay less, people in general far more friendly and genial.
The caveat is that you won't be doing the big "prestigious" deals, or have access to whatever amazing resources said global cities have, make the big bucks (but COL will be a lot lower usually) etc. Oh and the quality of talent will be much more varied. Your mileage may vary but this is what I have seen across asset classes and the liquidity spectrum.
Good Luck
I hear from friends that Bain Cap is paradise as far as mid/large PE forms go: I’ve seen it substantiated here on the forums as well.
It’s like everything that’s a blue chip name lies somewhere on a spectrum from Bain Cap to Apollo.
Hey don’t hate on Apollo bro at least their returns have been 2x Bain’s
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