Best MF to spend career at?
Assuming you can last, between BX, APO, Warburg, KKR, Carlyle, TPG, Thoma Bravo, which sounds like the best to spend a career at? Curious about the following categories for rankings: Culture, how hard is it to make partner/sr partner, WLB, carry maximization/co-invest/fund performance. Assuming Warburg has the best culture, Apollo most straightforward path to partner and highest carry but shit WLB…curious to what everyone thinks
Bump
get a full-time IB offer first
lol I’m a first year at an eb, don’t mind the title
Ya... Not much better. So you are on step 2 of 15.. Get an offer at a MF, get promoted/hired to a post-MBA role, show you can source and run deals to become an actual deal lead, then win at Game of Thrones to become a Sr. Partner
Warburg is up there in my opinion. Direct promotion available without MBA, business school sponsorship available if not, significant carry pool and on top of it all, still privately held
But the culture there is terrible. Could never imagine spending more than two years there.
If you want good culture I’d recommend another industry or getting very talented at finding needles in haystacks
Feel like the whole “Warburg culture is terrible” thing is a bit outdated these days. It’s very group dependent but I know some people there that enjoy it. But yeah, as poster above noted most (all) MFs will be grindy
Can you explain why the fact that it's privately held is a pro?
More carry to go around - less regulatory BS. Focus on just investing.
Realistically CD&R, Hellman & Friedman, Genstar, Clearlake, Platinum and all the other ~ 10bn + shops that focus solely on PE that are private should be in the conversation here. I'd rather be a partner at any of those first four than TPG for example.
KPS as well.
Whichever you get an offer at
Bain Capital. It is known for growing talent organically, and it has a nice culture so people stay around for the long term. I think that the consulting (ie non pure finance) heritage might be helpful.
It is also privately held so as someone mentioned above, it has more potential for carry as well as less admin/compliance BS, which is a pain.
Of the list, would go with Thoma Bravo or similar tech-focused buyout or growth equity firm.
Technology will only continue to be a growing slice of the investable assets out there, you want a firm with deep expertise in tech and have that tailwind behind you.
Might have to agree with Thoma Bravo or Warburg. On the comp side, highest is probably one of those 2 or Apollo, just because TB and Warburg are private (in public MF’s, effectively half the carry goes out the door…) and thoma bravo of course has sick returns, but Apollo also is just notorious for paying a lot, but tough tough culture/WLB. I think if you can really grind it out and you’re built for anything, Apollo is the place. If you’re like the rest of us, probably TB or Warburg. By the time you’re in your 40s, in any of the 3 funds (assuming you’ve been there since associate days), you will probably have cleared >$50-75mm carry which is obviously a slam…
I really think that for APO, it's if you're well-connected within the firm through external connections or you get lucky with the backing of select partners. Everyone getting a job there is more or less built for anything but getting tapped to succeed there has so little to do with the factors that are within your control. The same could be said about other firms obviously but just wanted to call out that APO doesn't necessarily require a "special" kind of person.
How does KKR stack up here?
Do people on WSO actually work at these firms?
I currently work at all of them
U probably have a large cock as well
Is it right to say you sacrifice WLB and Culture for Comp? I feel like most places that pay the best really don’t give a shitt because they know there’s X amount of other candidates that will take their position for the comp alone whereas a firm which pays below street looks to entice people in other ways? I mean I’m not too sure just speculating, follow the pay and you’ve likely got your answer?
Bro, so many firms that have shit pay and shit culture/WLB
Fair enough, I don’t work and never have in PE so it was more a question than anything else
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