Comments (137)

Dec 15, 2021 - 5:23pm

What I mentioned is the highest level I had heard. Based on a massive database that Litquidity put together, private credit comp is up an average 17% on average and 15% median at the Sr. Assoc./ VP level. So no, I wouldn't consider that "bad" at all. That's on market. 

Life is more than dollars
  • Analyst 1 in HF - Other
Dec 16, 2021 - 5:15pm

Have also heard private debt/alternative credit fundraising has been on fire lately. Senior with a full time offer at a large ($100B+) fund in a special sits/distressed credit role. Starting is 100k with target bonus around 50k. Seems slightly low compared to the associate and VP bumps but interested to hear other analysts's numbers. 

  • Intern in AM - Equities
Dec 16, 2021 - 6:09pm

any chance you could drop ur username so I could PM you? Also a senior with similar job

  • Associate 3 in PE - Other
Dec 16, 2021 - 8:21pm

Had c. 50% YoY comp increase from AS1 to AS2 but decent amount of that was due to being severely underpaid the prior year. 

Probably am not ahead of MF Private Debt shops.  

Dec 17, 2021 - 8:15am

I'm at a pension fund. Base is 140K and minimum/target bonus is 40% for a senior associate for what its worth

hours are also about 50 a week

  • Analyst 2 in PE - LBOs
Dec 17, 2021 - 2:33pm

Still.. 50-60 hrs for that comp post banking? That's the same as corp dev / strategy / less than GE / VC

  • Analyst 1 in IB-M&A
Dec 17, 2021 - 8:02pm

Asso 1 at a 6bn AUM DL/Special situation fund of a large asset manager. 150k base bumped up to 175k next year. Target bonus 100%

  • Intern in IB - Gen
Dec 17, 2021 - 8:07pm

Is there carry involved as you move up the ranks? How do you find your earning potential compared to private equity peers?

  • Analyst 3+ in HF - Event
Dec 19, 2021 - 10:15pm

Not at a private credit shop but in case helpful - had an offer to start as an associate at one of the largest BDCs. Comp was $250

Most Helpful
  • VP in IB - Restr
Dec 23, 2021 - 1:59pm

I can't speak to those details, as I've never worked for a BDC. However, I can say that you're comparing apples-to-apples. BDCs can be public or private, but they are mostly affiliated with private credit funds. For example, Oaktree Capital has several different BDC funds. I shared a link below from Monroe Capital's website (another example of illustrating the differences in fund types to prospective investors), but they are effectively the same work.

Business Development Company (BDC) Funds Overview | Monroe Capital LLC

  • Associate 3 in PE - Other
Dec 23, 2021 - 9:08am

Anyone have vice president / senior assoicate numbers?  

I've heard ranges for our SA / VP seat:

- 200k base. 

- 150k bonus.

- 150k dollarized carry. 

Dec 23, 2021 - 9:34am

At a $1bn mezz fund (we have other strategies). ~$220 all in. Got carried points worth ~80k as well on top of bonus which should happen every year during the investment period.

Array
  • 1
Dec 23, 2021 - 12:32pm

$500M AUM non-NY/SF/LA, but very lean team with 5 investment professionals. 1st year VP.

$170k salary/ $170K bonus with 7-10% raise TBD. 4% carry hasn't hit yet. The pay bump is below market but it's a pretty nice gig with solid upward mobility and a great group of folks. 

Life is more than dollars
Dec 23, 2021 - 2:31pm

Edited to reflect VP.

Life is more than dollars
  • Analyst 1 in IB - Gen
Dec 23, 2021 - 1:21pm

Interesting data points on this thread. I received MF Credit offers and was guided to ~$300k all-in for Associate 1. This is not for special sits/distressed groups, but for capital structure flexible groups doing mostly sponsor financing. No carry or co invest, but total comp seemed to scale nicely YoY. Would like to see some Senior Associate / VP numbers as well.

Dec 23, 2021 - 2:33pm

for MF, SA/VP role can easily get in the $225k salary/ $225k bonus before carry. 

Life is more than dollars
  • 1
  • Associate 1 in PE - Other
Jan 2, 2022 - 3:16pm

Should be closer to 500k (or higher depending on shop) for VP1s (in line with PE). Numbers I have been quoted are lower on base but higher on bonus (>150%).

  • Intern in IB - Cov
Dec 23, 2021 - 1:27pm

Do MF Credit teams solely recruit from IB for associate roles? Interested if it would be possible from an analyst role in private credit with flexible mandate to get to a MF Credit team and what that process would look like

Dec 23, 2021 - 2:32pm

They're probably flexible. Lot of ppl come from LevFin. Most important qualifier is credit experience. 

Life is more than dollars
  • 1
  • Associate 3 in PE - Other
Dec 27, 2021 - 10:07am

Its a bloodbath out there right now for private credit juniors.  Many places are dropping down to 1y experience for associates, etc.  This might make recruiting in a couple years pretty tight if credit markets tighten a bit, so not sure if what works now for recruiting will work in 2 years. 

  • Associate 2 in PE - Other
Jan 12, 2022 - 2:57pm

You're not wrong. Golub Capital senior associates raised to $175 base, got a midyear bonus of ~$50k, hoping for at least 1x bonus.

Jan 13, 2022 - 12:50pm

Also - any information on VP comp would be helpful as well. Had heard that ASO 1 base comp was raised to $160 on another forum. Maybe wrong - $5 bump in base per year from ASO 1 to Sr. ASO doesn't sound right. 

Array

Jan 13, 2022 - 12:23pm

I'd say this is pretty significantly below market if the fund size had a B on it

Life is more than dollars
  • Associate 2 in PE - Other
Jan 14, 2022 - 1:54pm

LMM Distressed Debt / special sits Private Credit fund. Around $750mm AUM, should hit $1bn when new fund closes this year. 

Associate 2 on the Portfolio Mgmt side

Base: $140k

Bonus: $75k

Should be promoted to Senior Associate towards the end of 2022 which would include pay bump and carry. Probably a bit on the lower end of the comp spectrum but I usually work around 50-55 hours a week (occasional 65s during crazy periods). Fund is growing at quite a fast pace and we charge 2/20 so hopefully carry is meaningful.  

Jan 14, 2022 - 4:43pm

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  • Associate 2 in PE - Other
Jan 17, 2022 - 10:52am

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  • Associate 2 in PE - Other
Jan 14, 2022 - 5:20pm

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  • Associate 2 in PE - Other
Jan 17, 2022 - 10:42am

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Jan 17, 2022 - 4:09pm

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