Does anybody have insights into ABF comp on the buyside? Going into my third year in a typical ABS group at a large American bank, and am curious to see how comp would compare at a fund/issuer compared to staying on the sell side. Is it similar to normal private credit comp?
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Based on the most helpful WSO content, compensation in Asset-Backed Finance (ABF) on the buyside can vary depending on the size and prestige of the fund or issuer. While there isn't specific data directly addressing ABF comp in the context provided, private credit compensation can serve as a useful benchmark.
For first-year associates in private credit, compensation typically ranges from $175k to $250k all-in, depending on the size and location of the shop. Top-tier firms like Ares, GSO, Owl Rock, HPS, and Bain Capital Credit tend to be at the higher end of this range.
If you're considering a move from a sell-side ABS group to the buyside, you might find that the comp is slightly lower than private equity but still competitive. Additionally, buyside roles often come with a different work-life balance and long-term incentives like carry, which could influence your decision.
For more detailed insights, you might want to explore discussions on private credit and direct lending in WSO threads like this one: url: https://www.wallstreetoasis.com/forum/private-equity/qa-non-target-top-….
Sources: Restructuring --> Direct Lending / Private Credit, Q&A: Non-target → Top Bucket SSG Private Credit/Direct Lending, Asset Management vs Investment Banking 101, Banking vs. The Buy-side: 10.5 considerations, https://www.wallstreetoasis.com/forum/private-equity/qa-non-target-top-bucket-ssg-private-creditdirect-lending?customgpt=1
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