Anyone familiar with Chatsworth Securities LLC??
I had an interview for an analyst position at Chatsworth Securities. They're located in CT (1~2 hrs away from the City). And they said they do private placement deals for the most part.
One thing I'm curious about is their compensation system. They said they don't have any base salary and everything is performance base upon closing a deal which usually takes from 4 to 6 months. Then, how do you pay for your living within those first few months where you do not make any money... and.. how much would you usually get paid upon closing a deal as an analyst?... Assuming that you close two deal in a given year.. you will only get two paychecks.. and if that were to mach how much other first years get as a base salary ... each paycheck has to be around 35~40K.... but I wonder if an analysts would get that much?
Sounds sketchy. They used to do plenty of deals, mostly in the public space where they would piggy back on for some debt and secondary offerings. CapIQ has nothing since 2007 on them. The last transaction it shows was an underwriter participant for MF Global, ironic.
Wonder if they got slammed by the downturn and haven't really recovered?
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