London UMM / MF PE with WLB?
I know there is a trade off. My ask is to put some figures on the London WLB post COVID + remote work etc at Asso / VP level.
So far I got that : - CVC sweatshop (in all strats ? Hours ?) - Apollo 2 days remote, #1 sweatshop - Advent no one knows - Blackstone few deals closed but still long hours >11pm - EQT better than the above (what does that mean) - Cinven ? - Apax ? - … ?
Have heard from friends that Warburg Pincus and Silver Lake are both sweatshops.
Warburg, H&F and Apollo are big sweatshops, but they pay super well (at least WP and H&F do, guess Apollo too but don't know first hand)
CVC is rough I have heard
Blackstone not too bad
Bain has pretty good culture
From KKR and Carlyle, I got mixed views
Advent not too bad either
Generally speaking, how sweaty a shop is on the associate level a function of 1) how lean they run 2) how thorough diligence is 3) how they approach staffing (only 1-2 associates per deal independent of deal size/dynamics? do they leverage banks/advisors or do everything in-house?) 4) how painful / insecure / hardo / psycho are the seniors? Do they focus on value add stuff or useless busy work?
Extremely insightful, thanks so much for this very detailed response. Do you also have any insight into Blackstone, KKR, CD&R, Carlyle, L Catterton and Ardian?
The other factor I’d add is how likely are you to be promoted. This drives sharp elbow and insecurity on the junior level / bad for camaraderie (eg Advent, Permira are known for this)
Does make sense given time is money.
What kind of WLB are we talking about at BX / Bain / CVC in rough numbers ?
Are these hours tied with good autonomy / responsibilities at the asso level ?
Thanks !
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