Credit Associate comp at Monroe Capital
Hello guys,
I was approached by a headhunter for an Associate (underwriting and portfolio management) role at Monroe Capital in Chicago and I was wondering if someone here can share any details on the team, culture and expected or actual comp (base/bonus)? Also, is this 2 year and out type of position?
Thanks all..
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I've heard from a friend there that they pay slightly below average for private credit. Probably a function of almost all of them being in Chicago, so they don't feel the need to match NYC salaries.
That said, this information is pre-COVID and labor market turmoil so not sure if they've bumped up since then.
Did you ever get any insight on WLB at the associate / mid-level there as well?
Pretty good from what I hear
Also recently contacted by a headhunter for an Associate role at Monroe.
Total comp target was below market - even by Chicago MM PC standards. Have heard anecdotally that WLB there is solid.
Can you provide a range? Curious what market is for PC
I don't know about Monroe specifically, but I'd say market for a fresh associate in private credit (assuming ~2 years of IB experience) is about $150K - 275K all-in. I suspect Monroe is probably around $150K, whereas most middle market shops are around ~$225K, and in order to get to the upper end of the range you need to be at a mega fund.
That said, these numbers are pre-massive raises in IB and stuff. So hopefully these jump haha
also curious on range
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