Currently thinking about a move to secondaries from IB, I’m familiar with the work and keen on the GP-led side. Just want to understand what are the culture/comps/hours like at top places like Glendower, HarbourVest, BX strategic partners, AIMS etc. Are the hours better than direct PE/IB?
Thank you!
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Since no one else seems to have provided much info yet, I can chime in with the little that I know/believe about the space and hope it helps:
Haven’t worked in it directly but have interviewed/met with and networked with people in the space
i understand there is a good amount of modeling/financial analysis involved in the work since the deals can have multiple assets/moving pieces that need to be underwritten
that said, I’m not sure if hours are too much like IB and maybe somewhat closer to like 9-7 or whatever with weekends maybe every now and then from what I gathered
comp at least at the base salary level may probably still be in line with banking (maybe less than the top, top banks) but you get the added bonus of much better WLB, potentially more interesting work since you are an investor, and hopefully a bit more predictability around when you may need to work or be on-call.
just some info I gathered as an outsider so you can take it for what it is worth for now
I hope that helps. Good luck
Comp is definitely not in line with banking.
Most definitely is and better at places like GS/BX