London MM PE comps
Currently IB assoc 1 looking to make a move to the PE land. Getting traction mostly with MM PEs.
Want to make a post to collect some data on MM PE comps numbers in London. From speaking with recruiters, seems a lot of mid market funds are paying £80-90k as base and 50-100% bonus. I'm talking about some of the more recognised names in the UK market. Some may give small carry allocation from associate level and co-investment, though most will have to wait until senior associate years.
Is this market - seems low compared to IB base these days and MM funds just didn't follow the pay raise at all in the last 2 years? Though one could argue the PE bonus is much less volatile so if looking at IB bonus this year the total comps is almost similar..
You’re spot on with that range.
It’s shit and I’m fighting back on it. I suggest the rest of the market does too.
Time to unionise and take back control.
haha can't wait to see the picket line of PE associates in green park lol
We have such little bargaining power though. People are taking haircuts from IB VP level to join as Associates in PE.
Adding a few I've heard from recruiters / market. Please correct if any is wrong and add if you know any others
Trilantic Europe - £80k base and 100% bonus (min)
Vitruvian - £90-95k base and 100% bonus
EMK Capital - £90k base and 100% bonus
PSG - all in around £180k
Marlin - £85k and 50% bonus (might be outdated)
Hg - £95k and 70% bonus
TA - £90-95k and 100% bonus (could be outdated)
A few LMM funds such as Tenzing in the range of £75-80k base and 50% bonus
Legend. Thank you.
From what I have:
Livingbridge / Inflexion - around ~£160k all in (probably £80k / 80k)
Balderton - around ~£155k all in (mini carry)
Perwyn is £100k + ~40% bonus I think
Tenzing sounds right - I believe there is mini-carry allocation
Another thread on this forum suggests Vitruvian is £70k + 30% bonus (but that post seems wrong...)
Any idea about VP / Investment Manager role?
No idea. Also feels every firm defines very differently - some places you are VP after 2-3 years versus others you are senior associate for much longer.
This is when carry is more likely to come into play so it becomes more tricky.
So it looks like £85-95k is the correct range of base with up to 100% bonus.
What are people’s thoughts on these figures?For an IB associate to move it would mean taking a 20% cut on base… do these funds increasingly hire analyst 2 candidates and consultants?
Seeing increasing hiring of consultants (McK for instance pays 95k and ~15% bonus) - no wonder it's a nice uplift for them...
I'm a 3rd yr Consultant on ~130 all-in and being told after a few ints. that I "lack experience" for MM PE. If I wait a few years I too will be taking a paycut, so don't think it's limited to the bankers now either!
From what I can see, lots of LMM recruiting is ex-Big 4 with ~5 YoE who are probably the last remaining cohort who won't be taking a paycut given their YoE
Did an internship at a MM PE firm and can confirm that there were several associates who had only done 1-1.5 years in IB. I also think that people think it's worth the paycut as the hours are usually better in MM PE. After being at a sweaty bank doing 80-90 hours a week, trimming that down to 60-70 is worth a lot.
Bowmark: ~80-90K + 50-75% bonus
Advent: £220K ish (not MM ik)
Stirling Square: £100K+£100K plus carry
I've heard very similar re. Advent and Bowmark.
Thx for SS.
Anyone has insights on Hg?
Also interested.
Bump of HG updated comp?
+1
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