Looking for data points on Aso1 and Aso2 level comp in London in 2025. Even if you heard a friend is getting £Xk amount. I heard stories of comp at £180k at some large firms and then £325k at other large firms. the variance is insane compared to the states so it'd be great to get it confirmed.
Firm name:
Level:
Strategy:
Base | Bonus:
The more info we share, the better it is for everyone!
Starwood
Aso1
Real Estate (Equity)
£125k | £150k - £200k
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for us funds, you should quote comp in USD since thats how its decided
Not true, it's firm dependant.
Based on the most helpful WSO content, here are some relevant data points for London MF Associate compensation:
Starwood (Aso1, Real Estate - Equity):
General MF Associate Compensation Trends:
The variance in compensation is indeed significant, especially when comparing across strategies (e.g., real estate, credit, infra, or traditional PE).
Sources: Q&A: Equity Analyst at a Sovereign Wealth/Pension Fund, 2023 Base Thread, Q&A: London REPE MF Associate, Private equity comp in London?, 2023 Associate Compensation Megathread
£210-240k, Apollo/H&F/WP outliers at 280-320k
Thanks for the STWD data point - presume it's for acq? Any idea if it's diff for AM?
Firm name: public MF
Level: ASO1
Strategy: PE
Base | Bonus: 110£ | 120£
Level: ASO2
Strategy: PE
Base | Bonus: 120£ | 160£
I think this is a discount to other private MFs, who are towards 300+£ for ASO2.
Firm name: Private MF
Level: ASO1
Strategy: PE
Base | Bonus: £130k | £130k
Level: ASO2
Strategy: PE
Base | Bonus: £140k | £196k
.
Firm name: Private UMM
Level: AN3
Strategy: Infra
Base | Bonus: 95£ | 50£
Ignore title.
my LMM comp looks so depressing against these lol
What is yours? I am LMM / MM - Senior Associate - comp is around £150k all in...
But - if you are granted carry, I do genuinely believe if fund performance is good you have a decent chance of realising it in LMM (vs. MFPE).
So, you kinda need to think about probability adjusted comp.
I've probably got around £1m of carry at work, and if you assume 5 or 8 years for it to realise it does become a lot more attractive (and lower tax rate vs. being taxed on income).
Equally, I fully get the argument of jam today vs. jam tomorrow.
Obviously some MFPE will have co-invest / carry option as well.
My comp is £135k all in as first year associate with carry
Granted my hours are more 9-6/7 than 9-12 which I assume MF people are doing
x
What about PC comp at these firms
UMM / near Large Cap Software/Tech Fund. ~380k total comp last year as ASO2.
Not bad for Hg
This is above market. Hg used to pay below market (at least pre COVID)
Is this FP ?
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