Net worth of Private Equity associates
So I graduated from a target in 2012 (no debt), immediately joined a BB in 2012, and made the transition to PE in 2015.
My net worth today (I always calculate it the first of the year), is 263,000. Is this above or below average?
What is your career track so far and net worth?
Graduated in 14 and have 165 so this seems low because I'll get2 more bonuses over the next 24 months should be at 400 by then
In the UK where taxes are much higher for high-income earners, one could expect to save anywhere between $300k and $400k while having a decent lifestyle but not spending like crazy. Obviously, this assumes you did not have a single pence when you started in 2012.
I'm not a PE associate, but we graduated in the same year (2012). My net worth is around $500K, but it would be higher if I had participated in the market growth over the past few years-- I am close to 90% cash.
Did you start with a 0 (or near 0) net worth out of college?
Basically.
I had around $7K saved from various high school / college jobs.
I also had a full scholarship (albeit to a crappy local college),which helped me start at $0 rather than a negative net worth.
Why would you be in cash? And work in finance? Stocks have been stupid cheap for years. Still good value relative to rates
Because trading is extremely risky if you have access to NMPI. That's not to say you can't lock that cash up in different assets though.
Stupidity? Skepticism? Fear? I don't know.
My focus was always on growing my income and capital base. I grew up relatively "poor" so I had a bit of a survivalist mentality where I didn't want to take risk with anything I worked hard to save.
Now I'm'at a point where investing makes more sense. I'm mainly looking at co-investing in private opportunities -- I like to know who I'm dealing with, and have some ability to influence the result.
What am I missing here?
I thought Monty Burns would be higher.
IMO seems low based on where I'm at personally and I graduated in 2015.
Phew, good thing I'll be raking in BB money taxed at 16% in HK. Will report back in a few years.
Enjoy buying your car/goods for 150% US price with taxes
Graduated in the Fall of 2016 and have $32,871.37 to my name as a first year analyst. Would love to hear about other first years/soon to be second years.
-$80,000. I actually had to work for things in life, kid. Mommy and Daddy didn't pay for my college.
kidding, but still, definitely jealous of your numbers. Did graduate school with a -$100,000 net worth though. Too rich for financial aid, too poor for college.
.
Thanks for posting this to keep me from feeling like total shit lol. Graduated with 110k in debt, down to around -70 now.
Too rich for aid, too poor for college.
When did you graduate?
Not even trying to hide the dick measuring contest. Bravo.
This may be the post which pushes me to relieve my wso account... and the fact that it was front paged
amen
are you including retirement savings (401k, IRAs, pension) in this?
Yes. Net worth
Are you staying in PE long term? $s committed to your fund?
No, my firm brought me on as a 2 year associate so will be changing funds late this year. But Ill stay buy side fo sho
1.7 million after 8 years (post phd), starting from 0; on track to retire in another 12 with 8-10mm, given income trajectory and reasonable investment returns.
I've been lucky or smart enough to ride the stock market up since I started earning actual money.
with 250 after 5 yrs it doesn't sound like you're saving very much money (or else are earning less than I expect for a pe associate)
Respect man, what do you do??
Research & systems coding at a quantitative hedge fund. Prior to that, quant at a top tier bank.
The basic budget is 1/3 taxes, 1/3 saving, 1/3 spending. I've tried to maintain that split from the start - it was tight in the early days when I was making less money, but it also built good habits and restrained the lifestyle creep somewhat.
Plus I've had about 25% annualized returns in my investment portfolio (mostly because of the incredible bull run in US stocks, although I have also outperformed somewhat). Last year was great - 35% return (vs like 22% for the S&P).
I am at solid 6 inches if anybody cares...
Your girlfriend told me it was more like 4.
Probably true given I am Indian...famously small ones
I know some guys at 8.5". A buddy of mine claims he's a 9 incher, but he can't keep a gf for shit. We call him cold steel
Since Im the OP, lets bring some civility to this thread and try to follow this template -
Graduated: 2012 Career track: PE Net worth (including 401k, etc): 263k
bout 350 bro
As someone who grew up with very average income (think Government salary...), I most definitely have overspent over the last 2 years or so. Coming into such a massive amount of spending money, when having less than $100 in my account during college on frequent occasions, was such a drastic shift. I think I may have gone too crazy, but finally putting my cash into some mutual funds, ETFs, real estate, etc. Better late than never!
Uhh ok thanks for the life story. But whats your net worth?
Came up in my browser...lets hear more net worths?
Graduated: 2012 state school with 0 debt (thanks parents)
Career track: private equity
Net Worth - including conservatively estimated private investments ~500K
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