LMM PE London Pay
Any info on LMM PE compensation in London?
It would be great to share your insights about:
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Fund type and size
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Compensation (Fixed + Bonus)
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Seniority
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Would be interested as well
Bump
Bump - interested as well
Let’s bump this shit
Associate 1: 70k Base, 60k bonus. All GBP obviously. Most days 9-7PM, almost no weekend work. Virtual 3 days a week.
Hi, do you mind if I pm you?
Sure, please go ahead.
Hi, do you mind giving an idea of the carry situation at your fund, bps at associate, above and rough fund size to the level your comfortable with saying
Bump - would love to learn more on this
Are you guys recruiting?
Bump
Bump
Bump
Bump
bump
Lol this thread 😂
UMM (few billion) intern at 50k per annum if anyone wants to know. Hoping this gets bumped to 70-75k with banks getting raises or else I'm out
lol
Is that unreasonable?
grad position at a LMM firm
AN1 46k with 8k sign-on (10% bonus)
AN2 50k (bonus 25%)
AS1 70k (bonus 50%)
this was towards the mid/lower end of the spectrum from my understanding
Yep that seems very low. Although if hours are 9-7 that seems fair, still aprox MBB salary
hours were pretty chill (average) 9-6 ish with sometimes hitting 9-12 on rare occasions
i think base had not been bumped in line with recent IB bumps but in line with buy-side grad roles (a bunch of large AMs are paying 35-45k for FO roles)
Much lower than MBB nowadays, significant salary raises since covid
Associate
~£80k base
~40% - 50% bonus
+ carry
US fund?
European
An2 on 65k Plus bonus which will be around 30-50% plus carry (Carry is hardly anything at my level, maybe get 10k). When I was An1 I was on 55k plus a 23k bonus and no carry.
At my firm you don't really get significant carry until VP (what we call investment director) level. I'm currently interviewing at MM funds and the salary seems about the same with the difference being much better pay later on (bigger pools of less diluted carry especially at more senior levels).
In regard to WLB I usually get into work around 8.15 (I'll be the first in for sure) and I leave between 5.30-11 depending on deal flow with an average of a 7.30 finish. I also go out to dinner/have drinks with management teams or Sell-Side M&A teams once to twice a week. This is fun at first but gets boring pretty quick.
IMO PE is behind banking until VP level in terms of salary. Interestingly, have seen friends get some very very good salaries at placement agents and PFGs at IBs lately.
Any views how comp & carry look like at VP level (for market rate)? Got any reference points from your interviews?
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