PE perks
Hi all - I'm trying to get a sense from those on this forum who work in PE about the types of perks / benefits that most PE funds offer. Is it typical for most funds to provide lunch for free, pay for dinner past a certain time at night, pay for cars / taxis back home past a certain time, give associates corporate cards etc? Are the $ allowances more generous or less generous than banking? How do these perks vary at megafunds vs. MM PE shops?
I will be starting at a megafund this summer (in their west coast office) and was just curious how about how these things work. I didn't want to ask my team about this before joining given it might look odd that these things are on my mind before joining ;)
Thanks
Yes they all provide these...but I wouldn't consider getting your dinner paid for because you stayed until 11pm a "perk". A perk would be getting out at 5pm. Who really cares if your office pays for your $12 lunch...is it that important?
Agree with comment above - regarding perks I would focus much more on lifestyle, paid holidays (per contract and actual), healthcare insurance ($$$ wise this will matter much more than paid lunch and other perks (e.g., annual retreats, happy hours).
But to answer your question - I work for an top upper middle market fund: - dinner of $35 past 7p - taxis home past 7p - free lunch a couple of times a week (1 weekly office gathering, lots of lunch meetings) - no co-pay health insurance on pretty much anything
The above is correct. would much rather get out early and miss a free dinner...
the perk is you get to say you work in megafund PE
(read: this is a joke)
the biggest perk is carry
Not to mention the vests
A lot of places will cater lunch everyday...though I wouldn't consider this a perk - I'd actually say this sucks.
I'm more than happy to pay 10-15 bucks a day for 30-60 minutes of fresh air.
Yeah, have a friend whose firm caters lunch everyday but the expectation is that you're just going to eat at your desk. I much prefer being able to go out, get some sun, and sometimes eat outside.
When I first started at my firm, I was so excited to get the free dinners ($25 at my firm, in the south).
Now I'd rather get out at 6 pm and not have to get the dinner here. LOL.
Also at my firm all the "perks" are essentially the same as it was in IB except there's no hard limits. it's just be reasonable about everything.
How much paid time off do you guys get?
15 days
Thanks!
I know some PE firms offer discounts at portfolio companies.
Yup, portfolio companies often give discounts. Also, some firms have private jets that they use for meetings, diligence sessions, etc.
lol at free dinners being a perk at an associate level.
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