London PE Associate Comp
Hi all,
Currently an A2 preparing for PE exits in London. What is the usual Associate 1 comp at UMM/MF PEs in London? Excluding the obvious outliers like WP or APO where TC is >£300k. I would imagine the average to be something along the lines of ~£200k?
Dartmouth partners comp reports are probably the best for London comp
Probably a little more than £200k now. Maybe £220k or so from what I hear.
I know the numbers for Advent and HIG
Advent: £110k Asso1 / £115k Asso2 / £120k Asso3 (bonus 100% first year, 120% after)
HIG: £100k Asso1 + £70k guaranteed first year bonus
Brookfield: AS1 £135k base / 45% bonus -- AS2 £160k base / 50% bonus / $225k carry / $25k share options
Apollo: AS1 £150k base / 150% bonus
Ares: AS1 £110k base / 145% bonus
is apollo london paying that much/is the 150% bonus realistically achievable or do you normally just get 100% of that? I thought I heard apollo comp was around $370-390k all-in for 1st year asso in the US in tier1 cities (NYC/SF) - but if your stats are true then that would be 375k pounds, equating to 475k usd. that just seems crazy.
That's what the HH told me and when I got to the final stage of interviewing there, some principals confirmed this during coffee chats
Crazy indeed
apollo is 450+ usd in nyc
APO asso 1 last year made £145 base + $215 bonus
Regarding Apollo - this sounds about right. I have a friend who used to work there and from what I have heard - 200% bonus is not uncommon in PE, EPF and credit teams in London. Tho my intel is based on 2021/2022 data. I understand the base was 125k back then.
For my fund it is: £110k asso 1 with 120-150% bonus
Pay bump 2 years after at 180k + 150%+ bonus and carry
Is the pay bump after 2 years for Senior Associate or do you go straight to VP?
What type of shop is this - MF?
Not MF, pure play not listed buyout firm
I came a bit seeing these numbers
100 base + 100 cash bonus as an AS1 at my MM/UMM shop - seems like it’s on the lower end
Mine same
Mine is same
My shop pays £180-200 all in for associates. MM fund
Europoors pay around 200k all in, American funds pay anywhere between 250 to 400k all in (say average/median at 250-260).
Needless to say, go to an american fund: better cash comp, faster progression, better carry (American waterfall)
HIG is an American fund and yet Europoor pay
Yeah ridiculous, they pay 100 + 70 in London
Think Apollo is £155k base with similar bonus and £80k sign on.
I work for a US large cap fund that pays USD c.300-325k for associate 1 (GBP 240-260k); and USD c.350-375k for associate 2 (GBP 275-300k). Promotions to a level (VP equivalent) where you get carry and VP comp bump longer than European funds.
BX
ASO 0: US$300k
ASO 1: US$375k
ASO 2: US$425k
Who's the HH for BX?
Any figures for the large Credit shops (e.g Oaktree, Ares, HPS, …)?
Ares: AS1 £110k base / 145% bonus (this is not for Direct Lending)
Which team is this?
any idea what the Credit DL figures look like?
Any insights on EQT?
Any colour on CD&R?
Per other threads / from what I’ve heard it’s around £300k at ASO1
Don’t forget the 2ams
Cinven 200k all in
Is that market rate for UMM funds?
For European ones yes, for American ones massive discount.
Quam ullam maxime quo velit. Suscipit magni iure modi quibusdam quisquam quo alias.
Eius deleniti soluta quis aspernatur qui quia. Pariatur id dolorem atque rem nam aut quia. Perferendis veniam et ea quis accusamus. Ut esse earum ut dolorem. Facere praesentium itaque quisquam neque iusto assumenda voluptate.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Quasi tempora explicabo cum ad consectetur quibusdam. Voluptates veritatis nulla doloremque totam doloribus omnis ut consectetur. Neque eos magni autem modi praesentium. Molestiae commodi sit quaerat. Autem est eos ullam similique eligendi.
Et suscipit ratione unde ut tenetur nemo facilis aut. Aut eos eum facere dolor. Vitae quia et aut. Optio ea officia debitis qui veniam.
Reiciendis vitae sunt consequuntur perferendis illum nulla libero. Molestias voluptatem sed exercitationem consequatur impedit. Unde numquam aut et voluptate placeat saepe corporis. Sunt consequatur quod sunt voluptatem et dicta autem. Cum necessitatibus alias placeat perferendis. Beatae est et numquam nemo ad ea. Et reiciendis aspernatur occaecati a.
Expedita autem porro maiores omnis sint alias. Reiciendis ratione et sunt et assumenda. Ipsum reiciendis eos sed soluta nihil illo voluptates. Praesentium qui delectus molestias.
Aliquam est veniam voluptas id praesentium. Unde eos neque dignissimos odit nisi facilis autem mollitia. Et eum omnis recusandae sunt velit. In qui sint aut aut fugiat qui maxime. Placeat dicta officia numquam nemo.
Doloribus nulla et voluptatem a et tempore provident ducimus. Quae ex necessitatibus non reiciendis qui quia et rem. Ipsum nesciunt ratione possimus itaque omnis cum. Qui quia repellendus adipisci sunt voluptatibus in.
Sunt numquam autem eum rerum quo nam. Aperiam molestias modi quisquam minima quibusdam praesentium dolorem. Ipsam ratione dolore repellat quibusdam. Tempora unde non laborum omnis similique. Quod mollitia maiores sit.