Apollo Offers Six Figure One Time Bonuses to Retain Associates
The New York-based firm will make the payments in April, which will vary from $100,000 to $200,000, said the person, who asked not to be identified because the matter is private. In exchange, associates, who are typically in their mid-20s at Apollo, must agree to stay at the firm through September 2022, this person said. - Bloomberg
Is there a question here or just fishing for clout?
I doubt it's fishing for clout, could just be opening up a discussion.
It's a bad deal.
Holy shit. Must be REALLY bad even by Apollo standards lately.
Saudi Arabia = Apollo. You are only there for the money and if you're lucky you will avoid the chopping block.
I lol'd. SB'd.
$200,000 is not enough to miss out on life for 2 years.
I'm in Levfin and on an Apollo deal right now and my entire month has been a nightmare.
I’d delete this my dude
Edit: why are dumbshits throwing MS for this..someone at apollo could find out who this guy is in five minutes and have him canned. I dgaf about apollo trying to help this dude not get fired
Why?
How exactly would you do that? Do you really think Apollo as a firm only works on one levfin assignment at a time? He hasn't given his name, his bank, his location. I mean, as an Associate at the bank, the Apollo team (or the people on the team that matter anyway) probably doesn't even know he exists.
What is there to do that is so bad?
As someone who's interacted with Apollo credit people, the firm is extremely pushy / aggressive, even more than other MFs. I've seen them make requests at 2AM for the next morning for completely immaterial things. Toxic firm both inside and in how they interact with banks and other investors.
There was a great perspective written by a LevFin banker who posted a detailed description of one of his Apollo deals on this site. It’s near the top of all time posts on WSO.
To be fair nothing is picking back up to any pre-COVID levels before the end of this year so it's not really a 2-year commitment. It's more like 9-12 months for $100-200k which ain't that bad of a trade-off. Staying for that time if you invest the $ for 20-30 years could accelerate your retirement faster than the amount of time you'd be giving up now.
The amount of money you’d need to give me to take this sort of gamble on my health and miss out on 2-5 of the best years of my life better be life changing, and immediately.
100-200k is not even close to that, by a very large margin. I might start thinking at 3m$ net of tax.
Fair points but I think the argument that the best years of your life are in your 20's isn't necessarily true and subjective.
My uncle founded and runs a successful small business that many on this forum would scoff at (think electrical wiring/plumbing). He's almost 90 years old and still works 7 days a week often for 10+ hours a day despite being worth something in the $80 MN-$200 MN range. He could've retired 40 years ago but loves what he does and will probably work until the day he dies.
His best friend founded a construction company and made a killing (not sure what he's worth but I'm pretty sure it's higher). After making a fortune with his construction companies he developed a specialty of building dozens of community banks that he'd sell at huge profits. After doing that for a few decades he decided he wanted to manage his own $ so he opened up a fund where he invests his own $ and his friends $. He's also in his late 80's and while he doesn't work 7 days a week he's putting in at least 50 hours every week because he loves it.
I hope to be able to be like both of these guys as I progress in life and would much rather achieve something like this than being able to talk about banging a 10 when I was 23-27. You can still enjoy your 20's without killing yourself and still end up being successful so I don't think it's an either or situation. Completely understand you not wanting to sacrifice your health though but just wanted to challenge you a little bit since I truly don't believe that your 20's the best years of your life.
Clearly you don't bang 10's if you think that running a construction company is better bro.
I would rather be worth $100mn+ than go out to bars every weekend trying to get laid. Don't get me wrong it's fun for a time but after a while it gets old fast. Most of the guys I went to school with are still doing this a few years later and get laid at a lower rate than when we were all in school. I'd imagine this is true for the majority of guys as well. Additionally, most guys that go out to bars in general trying to get laid on any given night generally don't.
I've banged one 10, in the moment it was awesome and is a great story to tell but afterwards it wasn't that great. She was vapid and impulsive in all the wrong ways so I cut it off. Went out with a girl that was a solid 7 who double majored in math and economics because she had a genuine passion for economics. 100 times better than the girl you'd look at and immediately say she's a 10. Too many girls that people annoint as 10's are ultimately just IG/Tik Tok thots that bring little to the table in terms of conversation and are of average to below average intelligence.
To be crystal clear, nobody here or almost anywhere is banging a 10 or even a 9. These ratings are ridiculous. A 10 is like a top tier global supermodel in the 1-2 years where she is in her absolute prime. Did you bang 23 year old Giselle or 21 year old Margot Robbie? Thanks
QUESTION because I'm genuinely curious: what's a total comp number that you would give an Apollo-equivalent year up for (pre-tax)? Half a million? The way I see it, having at least half a million in savings by late 20's is quite a bit of dry powder to take more interesting risks down the road.
What ever would come out to half a million net of taxes (so probably like $800k). If I weren't a couple years out of UG and actually had a nest egg, considerable assets, etc. it would probably have to be around $1 million or higher net of taxes.
$100-200k in a non COVID year I would never consider but given that things won't be back to normal in the next 9 months at bars and clubs I just don't think it's a terrible figure.
I'm a greedy fuck so yeah I'll take it
Sign me the fuk up
I would suck dick if it meant getting 200 large ones
You're too old for Leon's tastes if his estate planner with the island is anything to go by.
You're looking at it wrong. What if someone paid you ~350k -450k to suck dick all year in a nice hotel room and you accepted it as a trade-off for the money? Then last year, they drag you to a motel washroom, put you in a lonely stall with a gloryhole and ask you to now suck dick for 20 hours a day without any real break while at the same time getting verabally and mentally abused by the guys whose dick you are sucking. Would an extra 200k over the nearly half a mil you were already making make any difference?
yes
Not sure whether to SB for helpful or funny
is it just me or is this kinda hot tho
can these guys just take the $200k and check out until next bonus or just in general? if they try and coast and get fired, do they have to pay it back?
We don’t really fire people, just comp them lower and put them on a slower promotion track. But why would you take $200k in April at the cost of (1) your ~$350k bonus in December (third year asso) and (2) your professional reputation? That makes no sense.
By lower comp you mean bonus? I asked because loads of people seem to be quitting....looks like they could just take the bonus and coast with no effort. Pad the resume with years of experience then exit somewhere else in their own time.
That 200 is closer to 120 post biden tax raise which will undoubtedly happen by this summer.
Thank god. Much needed tax increase
Said no one ever
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