JPM SLF -> Blackstone, taking Qs

I was just shown this site by a friend. With the amount of misinformation on here, I thought it reasonable to field some questions while I'm on vacation. My background is two years at JPM SLF and now finishing my first year at Blackstone.

I'm happy to answer anything about the process, lifestyle, pay, etc. from the UG level all the way beyond b-school (as best I can).

Please keep your posts organized, and your questions concise.

Fire at will.

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Comments (75)

Jun 6, 2011 - 10:34pm

how many guys does BX PE take a year? I always thought that with promoted PE analysts and laterals from BX M&A/restructuring they take very few outside bankers. true?

where did you go to school, GPA, etc?

what type of misinformation is on here?

Jun 6, 2011 - 10:43pm
bIastoise:
how many guys does BX PE take a year? I always thought that with promoted PE analysts and laterals from BX M&A/restructuring they take very few outside bankers. true?

You are correct. I don't know the exact number, but it is small.

bIastoise:
where did you go to school, GPA, etc?

Dartmouth/Brown/Columbia, 3.65, 1560 SAT.

bIastoise:
what type of misinformation is on here?

Not malicious disinformation, rather just a lot of people with no experience giving answers that are a little off.

Jun 6, 2011 - 10:49pm

Thank you for posting here. This board has been very helpful with my questions about Blackstone, but I was wanting an opinion from someone currently working for the firm. I am having a hard time deciding on who to go to work for in private equity. I am getting a lot of fluff answers from headhunters. Is it okay if you give me the true scoop on how it is working for Blackstone? The following are very important questions to me:

  1. What is Blackstone's policy on flex-time/part-time? When would an incoming pre-MBA associate qualify?

  2. When is Blackstone going to go entirely paper-less?

  3. Do you feel like Blackstone's lack of technology is slowing down your development and progress in your career?

  4. I have heard that Blackstone is at the bottom of the megafunds and might be fading away after the controversy a couple of years back. I have also heard that Blackstone is losing their LP's like mad due to excessive and unnecessary fees from lack of technology among other things. What are your thoughts on these comment?

  5. What is Blackstone' employee turnover rate?

  6. Could you tell me again about how many hours a week you worked during busy season?

  7. How many hours a week you worked the rest of the year at Blackstone?

Thanks!

Jun 7, 2011 - 1:27am
frank_reynolds]Thank you for posting here. This board has been very helpful with my questions about <span><a href=http://tinyurl.com/3dfq69b rel=nofollow>Blackstone</a></span>, but I was wanting an opinion from someone currently working for the firm. I am having a hard time deciding on who to go to work for in <span><a href=//www.wallstreetoasis.com/finance-dictionary/private-equity-overview>private equity</a></span>. I am getting a lot of fluff answers from headhunters. Is it okay if you give me the true scoop on how it is working for <span><a href=http://tinyurl.com/3dfq69b rel=nofollow>Blackstone</a></span>? The following are very important questions to me:</p> <p>[quote=frank_reynolds:
1. What is Blackstone's policy on flex-time/part-time? When would an incoming pre-MBA associate qualify?

Interview with us and then negotiate/ask about this if you get offered.

frank_reynolds:
2. When is Blackstone going to go entirely paper-less?

There is currently not a fixed time-line in place for this.

frank_reynolds:
3. Do you feel like Blackstone's lack of technology is slowing down your development and progress in your career?

No.

frank_reynolds:
4. I have heard that Blackstone is at the bottom of the megafunds and might be fading away after the controversy a couple of years back. I have also heard that Blackstone is losing their LP's like mad due to excessive and unnecessary fees from lack of technology among other things. What are your thoughts on these comment?

Wholly incorrect. Also, megafund is defined by the size of the funds you raise.

frank_reynolds:
5. What is Blackstone' employee turnover rate?

I can't give specific turnover numbers, but we have no more a problem than any other fund.

frank_reynolds:
6. Could you tell me again about how many hours a week you worked during busy season?

During busy season, 95-105.

frank_reynolds:
7. How many hours a week you worked the rest of the year at Blackstone?

75-85.

Jun 6, 2011 - 10:47pm

so what is the pay for a pre-mba associate - salary & bonus? any carry for pre-mba's?

how was the process for you? any tips for 1st yr bankers entering the recruiting cycle? and finally, how has ur lifestyle changed since u've been with blackstone?

it seems pretty daunting with the amount of work you have and then you have to do resume prep/interviews/studying stuff...

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Jun 7, 2011 - 1:31am
ul8492:
so what is the pay for a pre-mba associate - salary & bonus? any carry for pre-mba's?

This year I took home $321k all-in.

ul8492:
how was the process for you? any tips for 1st yr bankers entering the recruiting cycle? and finally, how has ur lifestyle changed since u've been with blackstone?

Process is fairly straight forward, just know your stuff. People say too much fancy stuff here. Target -> work hard -> know your shit -> Blackstone.

ul8492:
it seems pretty daunting with the amount of work you have and then you have to do resume prep/interviews/studying stuff...

No way around it but to work hard.

Jun 7, 2011 - 1:32am
greenapple:
how'd you get the job? how's the comp at the junior levels? what are the people like?

People are not always smart or intellectual, but everyone is very hard working. I think I answered the first two already.

Jun 6, 2011 - 11:29pm

This is either weak flame, a sad attempt on the part of the OP to create an imaginary situation to inflate his own ego, or he's incredibly dumb to out himself like this.

How many first-year BLX ex-JPM SLF'ers from Brown/Dartmouth/Columbia are there?

Flame.

Jun 7, 2011 - 10:04am
ibhopeful532:
This is either weak flame, a sad attempt on the part of the OP to create an imaginary situation to inflate his own ego, or he's incredibly dumb to out himself like this.

How many first-year BLX ex-JPM SLF'ers from Brown/Dartmouth/Columbia are there?

Flame.

Ignore.

Jun 7, 2011 - 10:05am
James07:
Can you talk a little bit about the interview process? How many rounds? Type of questions and modeling tests?

It varies. But for me, three rounds. Interviewed with 6 people total. Two modeling tests, nothing too complex.

Jun 7, 2011 - 12:00am

How was it working for Joe P at JPM?

Ace all your PE interview questions with the WSO Private Equity Prep Pack: http://www.wallstreetoasis.com/guide/private-equity-interview-prep-questions
Jun 7, 2011 - 2:01am

are there any associates from non-IB or untraditional backgrounds like consulting, hedge funds, research, business operations/strategy, MM PE shops, etc?

Money Never Sleeps? More like Money Never SUCKS amirite?!?!?!?
Jun 7, 2011 - 10:14am
sayandarula:
are there any associates from non-IB or untraditional backgrounds like consulting, hedge funds, research, business operations/strategy, MM PE shops, etc?

Less so at the lower levels. We take so many from our advisory arm that it stifles some of that.

Jun 7, 2011 - 3:02am

How does the culture at BX differ from JPM? There was a guy on here who worked at MS M&A and then KKR and he said the culture at KKR was much more buttoned up than at MS. He specifically gave an example of an analyst falling asleep at this desk during his time at MS and the guys on the deal team just laughed about it and let it go. He said the same shit wouldn't fly at KKR. Is BX pretty much the same? I'm not looking to fall asleep at my desk whenever I can, but I can sure appreciate a laid-back office environment where guys can fuck around (within reason) and still get their work done. The guy also said that he made lifelong friends during his analyst stint at MS and the same cannot be said for his time at KKR. Does his experiences mirror yours so far?

Jun 7, 2011 - 10:13am
design:
How does the culture at BX differ from JPM? There was a guy on here who worked at MS M&A and then KKR and he said the culture at KKR was much more buttoned up than at MS. He specifically gave an example of an analyst falling asleep at this desk during his time at MS and the guys on the deal team just laughed about it and let it go. He said the same shit wouldn't fly at KKR. Is BX pretty much the same? I'm not looking to fall asleep at my desk whenever I can, but I can sure appreciate a laid-back office environment where guys can fuck around (within reason) and still get their work done. The guy also said that he made lifelong friends during his analyst stint at MS and the same cannot be said for his time at KKR. Does his experiences mirror yours so far?

I'll write a longer post on this tonight. Good question.

Jun 7, 2011 - 4:26am
voltaire:
Providing detailed info sufficient to be identified; generic, vague answers in a thread started to answer questions; new username with no prior posting history

Thanks for the fun while it lasted, troll :)

I'll acknowledge that you could be right and that your reasoning is solid, but...

1.) The conditions you list coincide perfectly with the parameters in which 10xLeverage's famous thread of the same nature were made.

2.) Bold move criticizing someone for being a new user when you have less Banana points than him.

“Millionaires don't use astrology, billionaires do”
Jun 7, 2011 - 10:34am
Nouveau Richie:
voltaire:
Providing detailed info sufficient to be identified; generic, vague answers in a thread started to answer questions; new username with no prior posting history

Thanks for the fun while it lasted, troll :)

I'll acknowledge that you could be right and that your reasoning is solid, but...

1.) The conditions you list coincide perfectly with the parameters in which 10xLeverage's famous thread of the same nature were made.

2.) Bold move criticizing someone for being a new user when you have less Banana points than him.

Hadn't seen that. I'll try to flesh out my responses a bit more, but if you all want that, be more specific with your questions. "How is Lazard?" is so general. Also, what makes you think I would know that much about Lazard. All I know is that their deal flow is suffering. Also, not as much talent there. Also, "What is the process for getting Blackstone?" is so general as to be almost unanswerable in a setting like this.

Jun 7, 2011 - 10:15am
voltaire:
Providing detailed info sufficient to be identified; generic, vague answers in a thread started to answer questions; new username with no prior posting history

Thanks for the fun while it lasted, troll :)

Ignore.

Jun 7, 2011 - 2:56pm
LesbianVomitFest2:
How is the financial sponsors group at JPM in terms of PE placement/culture/work experience?

-Thanks

It's an excellent group. Likely, though, you won't come out with the kind of modeling experience to get headhunted at a mega-fund. The place well in PE in general though from what I saw.

Jun 7, 2011 - 2:56pm
LesbianVomitFest2:
How is the financial sponsors group at JPM in terms of PE placement/culture/work experience?

-Thanks

It's an excellent group. Likely, though, you won't come out with the kind of modeling experience to get headhunted at a mega-fund. The place well in PE in general though from what I saw.

Jun 7, 2011 - 2:56pm
LesbianVomitFest2:
How is the financial sponsors group at JPM in terms of PE placement/culture/work experience?

-Thanks

It's an excellent group. Likely, though, you won't come out with the kind of modeling experience to get headhunted at a mega-fund. They place well in PE in general though from what I saw.

Jun 7, 2011 - 2:56pm

Do you feel that your firm has racial under tones as they chose black out of all the colors to describe their stone?

If I had asked people what they wanted, they would have said faster horses - Henry Ford
Jun 7, 2011 - 5:41pm
CallingYouOut:
I ACTUALLY work in Blackstone PE and there are no analysts from JPMorgan. Not from SLF and not from any other groups either. Many of you have called troll, but I'm here to confirm it.

To me, it just looks like you are the same guy who was skeptical a few posts up but you created an account. If you work for Blackstone, post up your school and previous bank. I am happy to engage you in an open fact check. I doubt you went to an Ivy and I doubt you'll be able to answer questions in a convincing way.

I am open to accepting the same challenge. Game on?

Jun 7, 2011 - 6:20pm
Verboten11:
CallingYouOut:
I ACTUALLY work in Blackstone PE and there are no analysts from JPMorgan. Not from SLF and not from any other groups either. Many of you have called troll, but I'm here to confirm it.

To me, it just looks like you are the same guy who was skeptical a few posts up but you created an account. If you work for Blackstone, post up your school and previous bank. I am happy to engage you in an open fact check. I doubt you went to an Ivy and I doubt you'll be able to answer questions in a convincing way.

I am open to accepting the same challenge. Game on?

Open fact check? How about I list the first 5 analysts (alphabetically) and their background. You can start at the end of the alphabet and do the same. Or maybe even tell me what floor you work on? You're a fucking clown.

1) Dartmouth / Revolution Partners
2) UVA / BX M&A
3) Umich (Ross) / Lazard General Industrials Group
4) Harvard / Bessemer Venture Partners
5) Wharton / GS TMT

Someone close this thread.

Jun 8, 2011 - 6:06pm
DontMakeMeShortYou:
Reddog is a known troll. Ignore him

That hurts bro...

@happy, I just thought it was funny how much your username contradicted the overall tone of that particular post. I wasn't really implying anything.

Jun 8, 2011 - 7:01pm
reddog23:
DontMakeMeShortYou:
Reddog is a known troll. Ignore him

That hurts bro...

@happy, I just thought it was funny how much your username contradicted the overall tone of that particular post. I wasn't really implying anything.

it's ironic and hipsters like irony?

Money Never Sleeps? More like Money Never SUCKS amirite?!?!?!?
Jun 8, 2011 - 3:35pm

uh..dartmouth -> REVOLUTION -> BX? this kid either is got some mad interviewing skills or major connections..

Jun 9, 2011 - 1:00am
Ricqles:
uh..dartmouth -> REVOLUTION -> BX? this kid either is got some mad interviewing skills or major connections..

maybe it was a sophomore SA who got an PE SA at Blackstone? that would make a lot of sense. otherwise that's damn impressive

Jun 10, 2011 - 5:28pm
bIastoise:
Ricqles:
uh..dartmouth -> REVOLUTION -> BX? this kid either is got some mad interviewing skills or major connections..

maybe it was a sophomore SA who got an PE SA at Blackstone? that would make a lot of sense. otherwise that's damn impressive

One thing Happy didn't make up is BX isn't as H/P/Y->GS, MS m&a-> as everyone on here makes out. Met a chick at bar from BX from Wash U St. L from DB taking 2 years off from BX to do teach for america before bschool. Know one kid here from BAML (Colgate) going (rumored) from one of our coverage groups. Just a smart dude who networked and smashed his interview. Really just luck, good background, and who'll give you a shot.

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