I spent a few months at a BB after college then moved to a hedge fund, where I've been for almost two years. Looking at a PE Associate role in DC at a ~$1 billion fund that seems pretty cool. Was kind of curious as to what market comp is in the DC/DMV area. Could one expect to break $300k? The team there is relatively small but the last fundraise was double that of the prior fund.
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Halifax? VPs make $350K all in. Associates 1 225. Would avoid the fund.
Not Halifax.
As1 is up to 225 now? When I recruited it was ~180
Guys you're killing me here
Out of curiosity, what's sparking the switch?
delete
Is it ADG or Generalist fund? The pay differs between each
First time hearing pay differs in PE with same strategy but different sector.. lol
.
Which one is higher?
Can you elaborate? Is it a thing that ADG funds pay less, all else equal (e.g., fund size)?
I knew ADG pay tends to be lower on the corporate side compared to, say, tech but didn’t know if it was a thing in PE as well
Don't think youre breaking 300 as As1 at any DC fund other than Carlyle
That's tough - also considering doing an associate program at a BB but i need to break in first. Want to do PE long-run so if comp isn't too bad, I wouldn't be opposed to doing the DC gig at all, and if anything, I really like the firm so I might be open to sub-NYC PE pay
If you want PE make the move now. Easier to go from PE to larger/better PE than banking associate, even at GS/MS to top PE. Also makes the story messier
Depending on the vertical, you may not even break $300 AI at AS1 here. They're restructuring comp positioning, so $300+ is very easily attainable at AS2+, but some verticals may feel the comp drop cushion their first year. But I communicate with a lot of folks at PE groups in the metro area, and your consensus is correct. No one tops $300 their first year.
Can you elaborate more on which verticals are having their comp re-structured? Have always heard 325-350 for Assoc 1 in buyout PE at CG so interested to learn when / how that changed
Would love to hear how PE firms have reacted to your experience working in a HF? Do they credit the analysis?
They didn't give a damn, and rightfully so tbh - what I did was pretty niche (think arb/quanty) and I only did fundamental work towards the end. I don't have a typical 2-year IBD background so its not much use to them
aw why the monkey doodoo
How are you making the jump to PE associate without prior IB / PE experience if they don't care about HF experience?
Its 130k base 60k bonus if this is the new credit fund you referring too that just doubled its AUM..
Its not
Can you DM? - Which fund is this?
What fund is this?
Does this take into account a lower cost of living vs NYC?
So consensus in DC PE as a junior associate is $200k to $250k all in, cash? No carry?
This can't be right, it seems too low. One would think you'd get a levered coinvest at least, no?
Not to burst your bubble man, but unless you're at a MF or UMM, it'll be hard to get $300k at a fund in DC. Maybe less than a handful of LMM and MM pay $300k for first year associates and that's in NY. I would imagine the market for DC is much less.
that appears to be market. How much were you making at the HF?
What are some of the LMM and MM PE shops operating in the DC area?
https://www.wallstreetoasis.com/forum/private-equity/pe-exit-ops-in-dc
https://www.wallstreetoasis.com/forum/private-equity/private-equity-in-…
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