LA PE firms with good culture
burning out in IB working 100 hr weeks for months on end. what are some PE firms with good culture and decent WLB? preferably LA-based ?
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+bump
Not Clearlake
Can you elaborate on that? There isn’t much info on them with regards to culture online so wanted to know more about them and why the culture isn’t good.
I think the wso consensus has been that they’re just sweaty af work-wise
Also seems like most of their portfolio is on fire atm lol which is affecting the associate experience
bump
Not LLCP
Have heard the same, pretty sweaty, kind of old school. Friend I have there said the dynamics w/ the 2 founders being married to each other was kind of weird.
Going to a PE firm that has a good work life balance as an associate is an immediate red flag.
If a PE firm is good at what they do and can make hundreds of millions of dollars for the firms partners, but opt not to because theh want their 24 year old associates to be able to do weekend brunches with friends, fantasy football draft parties, and hot yoga at 6pm on a Wednesday you are not a capitalist and will get crushed by those that are.
If you want work life balance as a 20-something year old you’re in the wrong industry and are going to get run over by your peers.
Facts.
Terrible take. There are so many factors that go into WLB / culture for an associate - # of associates at the fund, proprietary deals vs. banked processes, whether funds internal admin/IR function is built out, whether the partners are good, etc. I've seen associates with great WLB at funds with top decile returns and also have seen associates at bottom quartile funds with terrible WLB and hours. Also, weekend brunches (which take 2 hours max) or a fantasy football draft party (which happens once a year for a few hours) is not unreasonable to ask for and still work 60-70 hours a week.
#1- most people don’t consider working 10 hours a day 7 days a week or 12 hour days 6 days a week WLB.
#2- You must have an incredibly vast network to not only know people at multiple top decile funds but also know numerous people at each to have enough of a read.
More likely, people tell you how great their career is going and how their fund is putting up 3x MOICs, paying the investment professionals a fortune, and the team barely has to break a sweat. And you’re the dumb enough to believe them.
Since you know so many, why don’t you name 5?
Either you’re completely full of shit or you work at a fund of funds and are used to GPS telling you how great they are and you’re the dumb money that believes them.
#1 - If you're used to working 100 hours a week, 60-70 hours is decent WLB
#2 - If I have close friends at funds, they do give me candid feedback on their experience. Just because people lie to you doesnt mean it happens to everyone
Bro is mad that he works his ass off at a shit fund and isn't getting paid. Maybe if you weren't such a jackass, life would treat you a little better.
Which G7 country is the "hardest working?" Japan
Which G7 country is the least productive? Japan
Now, an even more interesting question is this. Which country is the "laziest?" Austria. As the saying goes, all stereotypes are rooted in some truth, and the stereotype of sexy levels of efficiency in the Germanic world (Germany, Austria, Switzerland) is about as statistically accurate as a stereotype can get. Austrians have a sky-high standard of living and quality of life. To my knowledge, no major city in Europe, or maybe even the world, pays such good salaries relative to the cost of living. I have many friends in Austria, and you can easily find a spacious 2-bedroom apartment in Vienna for around €800 (it's a slightly different story in Tokyo). I'm very happy here in NYC and would never leave, however, I'm picking working and living in Vienna over Tokyo 10 times out of 10.
+1 on this comment. I don't know why people think you absolutely need to work longer hours to make more money / be financially successful. True, it tends to be the case at a junior level in this industry, but not always. just take a step back and think about it.
You're about to make a $3B investment. When you're running on 5 hours of sleep for four days straight, are you really in the right mind to be able to think about everything that can go wrong, why you should not get this deal done? Probably not. Are you able to think of another sector well enough to get into, innovate for your firm? Probably not. And on the day-to-day, are you able to model quicker, make your IC memo quicker with less errors, by continuously pushing yourself to work longer? Again, probably not.
Point is, yeah you'll work late and long. But don't be sprinting 24/7. Take breathers to be able to think big picture. Even countries need to learn this.
Felicitas
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