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.
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