What’s going on with GIP?

Seems like they're really dumpster diving for replacement talent. GIP Credit is also now looking to do IG financings? Anyone have the inside scoop what's happening over there?

Comments (15)

Jun 28, 2022 - 8:09pm
InfraB, what's your opinion? Comment below:

Absolutely brutal culture and very stiff/formal work environment. Comp and prestige only go so far when they crush you worse than banking

Interesting, is that also the case for the credit team? From what I've heard they've refilled most of the headcount on the PE team, with some very questionable hires I might add. But still struggling to fill credit. Some recruiters are basically begging industry juniors to interview for positions there.

Most Helpful
  • Associate 3 in PE - LBOs
Jun 29, 2022 - 1:34pm

Credit is slightly better in terms of culture in that not everyone is an absolute hardo like the PE side.  But you still get worked pretty hard and not totally uncommon for them to pull in junior resources from the equity side to help out on credit deals when their swamped.  Credit side definitely feels more disorganized given how new it is.

Regarding the question on replacement hires, I don't think the quality of the newer classes are significantly below historical precedent but its always been a revolving door of junior talent. Some of it is driven by Associates not getting the partner track nod after two years but most of it is voluntary given how brutal the culture can be.  These issues definitely got worse during COVID and the top levels are aware of it, but at the end of the day, they're raising +20bn funds and are ultimately focused on deployment / carry realization.

  • Analyst 1 in IB - Cov
Jun 29, 2022 - 6:17pm

what are the hours actually like though, you guys just say "bad hours, bad hours, horrible hours" can you give a number? Are we talking 90 to 100 a week, every single week, or like 80 hour weeks for 4 weeks straight or ??? Genuinely interested

  • Associate 3 in PE - LBOs
Jul 1, 2022 - 11:03am
_canadianpsycho

Also curious about data points on this - have heard 70-80 run-rate is typical with this going out the window during a live deal (as expected). Can anyone confirm?

this is generally right although the whole concept of a "live deal" isn't the same at other firms - 2/3 of GIP's deals are on a proprietary/bilateral basis. They hang around the hoops of big strategics doing a shit ton of work upfront vs. lobbing in IOIs as part of an auction process and then throttling down to LOI/post-LOI like you see with most PE firms.  All of that is to say the "live deal" sprints are more frequent, often longer, and often resulting in no actionable deal.

  • Analyst 1 in IB-M&A
Jun 30, 2022 - 1:29am

Have a friend who works there, place has no value proposition to stay. Comp is not what it used to be -- well below MF street now with bad culture and a stiff/slow promo cycle. People are constantly leaving once they find this out themselves. Good place to learn for 12-24 months but seems you'd be foolish to stay longer.

  • Associate 1 in PE - Other
Jun 30, 2022 - 7:17am

Is your friend an Analyst or Associate? I know with a high degree of certainty that comp is in-line with MFs (ex-Apollo), if not higher. First year Associates are given a minimum $300k floor with many well above this and into the $400k range.

  • Analyst 1 in IB - Cov
Jul 1, 2022 - 1:27am

Ex veritatis sit a qui. Qui reprehenderit rerum numquam rerum sed dolores. Nobis velit magni quisquam aut totam est id. Corporis laborum eum quae unde quidem sint architecto natus.

Explicabo dicta pariatur aliquam aperiam. Et ad aut tempora magnam quidem aliquid. Et id odio et aspernatur. Quibusdam dolor deleniti ut dolorem eveniet libero perferendis.

Amet aut velit quod consequatur magnam autem. Laborum eaque voluptas quae mollitia. Itaque dolores temporibus adipisci corporis corrupti minima sed.

Start Discussion

Career Advancement Opportunities

August 2022 Private Equity

  • The Riverside Company 99.5%
  • Apollo Global Management 98.9%
  • Warburg Pincus 98.4%
  • Blackstone Group 97.8%
  • KKR (Kohlberg Kravis Roberts) 97.3%

Overall Employee Satisfaction

August 2022 Private Equity

  • Blackstone Group 99.4%
  • The Riverside Company 98.9%
  • Ardian 98.3%
  • KKR (Kohlberg Kravis Roberts) 97.8%
  • Bain Capital 97.2%

Professional Growth Opportunities

August 2022 Private Equity

  • The Riverside Company 99.5%
  • Bain Capital 98.9%
  • Warburg Pincus 98.4%
  • Apollo Global Management 97.8%
  • Blackstone Group 97.3%

Total Avg Compensation

August 2022 Private Equity

  • Principal (8) $676
  • Director/MD (22) $599
  • Vice President (82) $363
  • 3rd+ Year Associate (82) $276
  • 2nd Year Associate (184) $266
  • 1st Year Associate (353) $226
  • 3rd+ Year Analyst (28) $157
  • 2nd Year Analyst (74) $134
  • 1st Year Analyst (218) $122
  • Intern/Summer Associate (25) $68
  • Intern/Summer Analyst (262) $58