Monolingual Brits for PE - Are we f*cked?
English speaking Brit here who has an FT offer for a solid EB in London – think LAZ/HL/PWP/RTH/GHL. Have looked at a lot of PE firm teams in London and surprised at how few people speak only English (yes naïve).
I know a few big PE shops have UK/IRE teams and a couple PE firms I can think of that are UK/IRE focused with respectable AUM, e.g. $1bn+ but not many… below feels too small and limits optionality for B School/career change – am I correct in this?
Considering GS/JP/MS large class sizes and increasing spring week intake from Brits (Laz London SA class was purely SW for last 2 years) i.e. increased competition from people with no euro language, do monolingual Brits still have a good chance at PE of $1bn+
Does knowing 1+ euro language become even more important when you get senior in PE or is it unimportant as you'll have your euro fluent monkey handling much of the deal for you if/when you make Principal
I noticed this too, I've seen where friends have applied the reason they don't get an offer is they cite language requirements needed. I speak Arabic and really broken Swedish but it's not as highly desired
No - plenty of opportunities for Brits.
If we just look at Exits from MS in 2021 we've seen Monolingual speakers go to KKR, EQT, Carlyle, Permira, TPG, Global Infrastructure Partners, Montagu, Waterland etc
Yes unsurprisingly as this is MS as I mentioned in my post. I'm looking at the situation for Brits who aren't in GS/MS/JP
There are definitely less opportunities as a monolingual speaker and anyone who tells you differently is lying. Ultimately, it depends how the fund and teams are setup, e.g. if it is pan-European coverage, multiple languages will be required and Brits are unlikely to even be interviewed. Most MF sector teams are setup this way.
Thanks though, to be fair I wouldn't want to do MF even if I was multilingual
What is the situation like in UMM and LMM. Is UMM in London realistic?
Come to America. We don't give a phuck if you know any other language than English. Whole world has to accommodate to us.. medical.
Why speak anything other than the sweet language of freedom.
Dude, thanks for telling us you only need English to do American PE!
Good luck doing PE in France or Germany without speaking the language. Yeah I guess Tier-Z countries will "accommodate" to you in order to attract capital.
Leave it to the europeans to get offended by an obvious joke
Lmao most multilingual individuals didn't work hard for it. They either had the luck of being born/raised in an environment where multiple languages were spoken or they had the luxury of attending schools with quality language courses.
Why do you want to go to PE? You work harder for less pay while getting promoted more slowly. Staying in IB is underrated, especially for monolinguals.
You gonna need to expand on that. Common word is that PE lifestyle is either IB or better - not worse. A recent post gave Associate PE salary Y1 at £150k in London, that's about same vs Associate in IB
What PE fund in LDN is paying £150k salary? £150k total comp more likely
As1 in IB is now £105k - £120k base, £200k - £250k total comp incl. £30k - £40k signing bonus
Lifestyle in PE is firm-dependent but likely worse initially as you need to rebuild brand equity and have fewer resources (i.e. no analysts, no offshore graphics team, fewer precedent materials, etc.). Assuming you don't work at a sweatshop, a well-respected As1 in IB can have a relatively good lifestyle by leveraging good relationships with seniors and pushing grunt work off to juniors.
I think your on the high end as As1 if your all in is £200k - I suspect many As1 also have a base 90/100k and 60k bonus situation giving total comp at ~150k
Your point on rebuilding brand equity and lack of support is fair, what should concern OP is the lack of exit opps at VP level, the very few spots available past the VP level in IB and that you are middle management on a fat pay check that is easier for the bank to justify cutting/firing vs analyst grunts and seniors who bring in clients. I mention VP because that seems the logical route if you're staying as Associate and not exiting to PE.
Your either good at transitioning into the very different role of a MD/D or your not and you'll be cut pretty quickly if not, you may not find out your bad at it until your already there in which case your too late.
Personally have no problem staying till Associate and can see it often being better lifestyle and pay vs PE but VP area seems like the danger zone
Given how many London outposts of US PE firms are headed by Americans and staffed by East Coast transplants at the principal / junior partner level you will be just fine. Just don't ask them how much UK tax they are paying on their carry ;-)
Sorry what do you mean by "completely and fully banked and covered" ??
It sounds like you're giving a positive outlook for English only speakers. I'm told HH often look for language specific candidates, why are people saying that there are definitely less roles for English only then if it can all be done in English?
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