Top Paying MF's
Just curious of As1 / As2 / As3 top paying MF's. Assuming Apollo / KKR / TPG / WP, but curious what other names / numbers are out there.
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Heard CD&R pays bank, too.
350-400 TC for A1?
That's correct. Probably closer to $350k TC for Assoc1. and $425-450 TC for Assoc2
They best be with this monster Belron exit / continuation vehicle.
Jeez... Belron valued at 3bn in 2018 and now 21bn in 2021... Big payday for CD&R Fund X
bump
As of on-cycle 2021, Apollo and Warburg Pincus are top comp for Associate 1’s.
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Is the culture / hours still shit at both shops?
ya, but some groups at WP are worse than others
What was the quoted comp for them as of on-cycle (+/- 10k)?
WP is $360k target comp, which should be 3rd highest behind H&F and Apollo.
Rest fluctuates between $300-350k.
Welcome to WSO, 6 comments and none with any figures. I'll start off... KKR Assoc1 now at 150k base, think I heard 160k as well. Someone currently there can confirm.
New KKR base for Associate 1/2/3 is $155 / $165 / $175
PE or credit, or both?
At a UMM/MF in a HCOL but I don't think we're paid the highest (NY,SF,LA) ($10bn+ latest fund size)
Base: $150k bonus: $200k TC: $350k
Assoc1?
What's Bain?
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Lol absolutely. They struggled during GFC but they are doing well now. They have $150bn AUM, from which $49bn belongs to credit and c.$10bn to all the other strategies combined besides PE. So they have $90bn AUM in PE. This compares well to Warburg Pincus ($67bn), H&F (c.$80bn), TPG ($109bn, all strategies), CVC ($97bn), Advent ($58bn), Thoma Bravo ($91bn) or CD&R ($43bn).
And yes, you can argue that other MFs are raising +$20bn funds while Bain raised $12bn, but you have to take into account that Bain is still a privately owned partnership, so their business model is not exactly the same as that of many other MFs, whose main target is to grow AUM and get the safe and stable management fee.
WSO is the only place that has this perception that they are not a MF. Prospects here say that they are in decline and that each fund that they raise is smaller than the previous one, but that is just not true. That happened in the GFC, but they have been raising larger funds and being oversubscribed.
A1 just raised to 150 base, bonus unspecified but was 180 in prior years. Source: work there
hows culture / WLB?
some will say not a MF, but heard Insight all-in pays equal to or more than comp numbers listed above
What is up these days with everyone always hyping Insight? We get that they are doing well, but every thread is turned into a thread about their perks and comp lol
The usual prospects/interns regurgitating what they read on other threads
They easily had the most exciting/engaging OCR event I’ve ever been to. Event was packed and they focused on the “agency” that comes with sourcing as well as all of the perks so everyone left thinking the place was the greatest thing ever. This was also a few years ago before their recent mega fundraises. That’s why I think all of the prospects love it.
How do you guys find out the target total comp? Does the firm/headhunter tell you, or is it anecdotal?
Usually they'll tell you when they give out an offer. "base of $xxx with bonus target of xxx%"
Vista probably has the highest post-tax pay if you are in the Austin office
Is this because of tax evasion or no state income tax for Texas?
Heard they are around 300 all-in
It's 300 all-in plus 50k worth of this phantom carry structure that brings it to 350. Either way 300 in Austin is 210 after taxes whereas 350 in NYC is 207. If you factor in COL, Vista ASOs really come out on top.
Any insights on Silver Lake?
6-10bn latest fund UMM: 300k target + 10k sign in + coinvest & random bonus so ~315k cash + whatever you value the coivest at
And what would you value it at? What’s some example math numbers (leveraged and otherwise)?
I mean assuming 100k / year 5 year investment length @ 20% IRR and no fees (not sure about that part)
@ pe coinvest: 100k -> 248k
@10% spy: 100k -> 161k
So net is 87k and discounted back + added risk of lbos vs spy probably ~40k for both years? Every fund is different tho but that’s how I thought about it
Apollo is literally the emperor of comp. Source: was VP at Apollo before becoming a Senator.
What is Morgan Stanley Private Equity Comp look like?
Bump - any insight on Morgan Stanley Infra Partners comp, culture, deal flow etc.?
Anyone have numbers on H&F?
bump
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