There are lots of data points on here for IB and PE but haven’t seen much on Private Credit and specifically in London.
With bonus season coming up would be good to see comp across different funds. Suggested inputs:
Fund size: £Xm / bn range (Debt only if PE company)
Fund type: Debt / Private Credit division of PE or bank
Level: Title and year
Base: £Xk (+/- x% vs. last year)
Cash bonus: £Xk (+/- x% vs. last year)
Carry allocation: £Xk / Xbps (+/- x% vs. last year)
Average weekly hours: X
Fund size: $100bn range
Fund type: Private Credit division of a bank (asset management)
Level: AN1
Base: £65k (+/- 0% vs. last year)
Cash bonus: unknown but heard 20-70% vs. 100% for last year
Carry allocation: NA. only for VP or above
Average weekly hours: 70 - 90 depends if needed to work on weekends or not
Happy to see other data points… feel like we are way underpaid compared to the street as hours are as horrible as IBD
Fund size: $100bn+ range
Fund type: Private Credit / Special Sits
Level: ASS1
Base: £120k
Cash bonus: 80% - 100%
Carry allocation: NA. only for VP or above
Average weekly hours: 50 - 70 depends if needed to work on weekends or not
Fund type: Direct lending
Level: VP2
Base: £175k (staying flat into VP3)
Cash bonus: £205k (split 85/15 cash / deferred over 3 years)
Carry allocation: c. £1m (pays out roughly £50k per year over 5 years and the rest back ended)
Average weekly hours: c. 50 + bit longer when deals are closing, bit less when pipeline is thin