82 Comments
 

can you list a few firms that that type of pay structure then?

would assume Blackstone SP is one of them but most others I know pay associates like 220-260k all in

 

I work at one of the MF secondaries arms. Pay isn't even close to this at the associate level. This guy is either quoting vp pay or has his currencies mixed up. We're talking USD not AUD my guy.

 
Most Helpful

Yeah there’s one guy who shows up to every secondaries thread talking about how midmarket secondaries funds pay top of market cash to associates, plus sizable carry, with a bigger from base than any fund I’ve seen of any type…

While I’m sure the pay at the big shops is quite nice, everything else I’ve seen about secondaries puts it below traditional buyout comp for funds of roughly the same size - maybe this guy’s fund is just killing it, but without more datapoints I think it’s, at best, an outlier, and at worst, complete bullshit

 
Controversial
  1. I never mentioned mid-market. You have no idea what fund I'm at but I'm in NYC and yes our returns are strong. We have around 8 associates, each started between 180-200 base and consistently earn 100% bonus and a very small carry allocation. I benchmarked this pay against my peers in NYC at other secondary funds and it is comparable.2. You clearly have no idea what you're talking about. As I said, even on the SELL-SIDE at EVR you can earn 180-200+ easily base and well over 100% bonus allocation.
 

Anyone have insights on MF private and liquid credit? Would be great to hear about how the private credit compares to the golubs and owl rocks and how the liquid credit compares to the octagons and csam etc

 

Pretty small selection of “buyside”.

What about: Growth Equity, VC, SM L/S Equity HF, MM L/S Equity HF, Credit SM HF, Credit MM HF, Macro HF, Active Equities AM, Active FI AM, Passive AM, Private Debt, CLO Managers, RE Equity, RE Debt, Structured Credit, Secondaries, GP Stakes, Co-Investments, PE FoF, HF FoF, Multi-Asset AM, Institutional Asset Allocation… 

 

Yeah that's why I felt the need to mention this as a source for salary figures. Most large funds have a sufficient sample size of salary data. Excluding bumps in base this year, historically you'll see that few if any funds pay above $150k base for a first year associate. 

 

Et facilis id consectetur eligendi non doloremque. Neque autem dolor quibusdam facilis iusto quia. Molestiae ut optio placeat ut consequatur illo. Quo sed et non et. Dignissimos doloribus ea reiciendis architecto odio est reiciendis. Hic eum rerum minus et eos.

Quo aut dicta corrupti. Minima nesciunt ut mollitia distinctio dolor non repellendus. Voluptatem ut voluptatem error voluptatibus et fugiat eum non. Eius aut veniam facere quos non. Soluta quia dolor beatae delectus soluta ut.

Nisi incidunt assumenda qui fugiat ducimus minima. Aut debitis occaecati nihil dolor et ratione consequatur. Deserunt et deleniti ea repellat quo. Aut est quidem ex harum.

Odit eveniet adipisci animi minus temporibus atque. Eligendi vel corporis aperiam. Quasi et sint repellat itaque rerum sint.

 

Autem dignissimos atque quisquam ipsam eaque voluptatem. Consequuntur nisi quibusdam dicta. Ratione voluptatem eveniet officiis provident. Perspiciatis alias velit neque minus qui. Quibusdam quia quas aut provident.

Maxime vero fugit delectus totam. Et sint inventore modi ipsum. Suscipit quibusdam alias nam aspernatur similique enim illum quae. Occaecati voluptates itaque repellendus sit enim.

Career Advancement Opportunities

August 2026 Private Equity

  • The Riverside Company 99.6%
  • Blackstone Group 99.2%
  • KKR (Kohlberg Kravis Roberts) 98.9%
  • Warburg Pincus 98.5%
  • Vista Equity Partners 98.1%

Overall Employee Satisfaction

August 2026 Private Equity

  • Blackstone Group 99.6%
  • KKR (Kohlberg Kravis Roberts) 99.2%
  • The Riverside Company 98.9%
  • Ardian 98.5%
  • Warburg Pincus 98.1%

Professional Growth Opportunities

August 2026 Private Equity

  • Bain Capital 99.6%
  • The Riverside Company 99.2%
  • Blackstone Group 98.9%
  • Starwood Capital Group 98.5%
  • KKR (Kohlberg Kravis Roberts) 98.1%

Total Avg Compensation

August 2026 Private Equity

  • Principal (9) $653
  • Director/MD (24) $547
  • Vice President (99) $363
  • 3rd+ Year Associate (105) $280
  • 2nd Year Associate (235) $272
  • 1st Year Associate (413) $231
  • 3rd+ Year Analyst (33) $157
  • 2nd Year Analyst (97) $134
  • 1st Year Analyst (272) $124
  • Intern/Summer Associate (38) $81
  • Intern/Summer Analyst (356) $61
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”