London MF Analyst Comp
Curious what Analysts are getting in comp for Yr 1 and 2 in London working at megafunds. Is it around 65k? Would love to hear what base is and what you can expect as bonus. The salary reports aren't updated since 2021 saw huge bumps. If you could post what you do too (healthcare, generalist, infra, re, credit, etc.) Thanks!
Bump
Bump - curious as well
A few years ago it was 70-80k all-in for BX Corporate Private Equity; unsure what it is now (with a recent junior price bump in the industry).
This is closer to base comp nowadays. Expected all-in twice as much.
Total comp is like 140-160k all in for a first year analyst?
Where did you get this figure because it is blatantly false. It was £65k before and now has gone above the range you quoted with a 100% bonus
Why do London salaries always seem so much lower than NY (yes I did account for the currency difference)
They aren't - you are paid in USD and exactly what folks in NYC are getting.
CoL is also much lower and not comparable
LOL if you think london is CoL is much lower. its on par and at times more expensive depending on where you live
you have never been to London
So whats the USD salary on Associate Level?
>=$300k
Bump MF analysts drop your comp! I’m in two processes and would love to know
In general, should a MF analyst expect to be paid more than an BB ibd analyst? For pe, infra, re, and credit…comparing the asset class groups to the same coverage at ib btw. Thanks
Curious on this as well. I've heard some pe funds pay less for the opportunity to go buyside right away? But then places like BX pay 140 all in?
For smaller funds that can be true. Large cap funds will usually pay in line or above banks given they want the best talent. And even if they were slightly below, everyone would still take the buyside offer.
Thanks for letting me know. Another question, does intern base pay and analyst differ usually, or is it reflective of analyst base?
Depends on the firm. Best way to tell is the title: if it says "Summer Analyst", will be A1 base and if "Intern", will be below A1 base. Speak from experience on this one
You have no idea how relieved and hopeful I am that this holds true for me too. Got my intern salary 20-25% below what I think is London IB market base pay at a MF, was a bit tough to swallow
Haha can relate bro, getting underpaid as shit in my current internship but same base as AN1 for my MF gig
Monkeys eating banana peels when we just want the banana loafs! Thanks for the comment, actually super relieved now
Out of interest what do you consider the expected range?
Still 50k or above?
Any insights on the private credit side welcome
Sorry, quick question - when you guys say analyst 1 and 2 at MF, you mean those that came from IB right? Not the fresh grads that BX has
No, Analyst 1 = fresh grad
I meant fresh grad. Although for BX specifically, I heard people who lateral in often have to take a title wise for a few months or a year. Ex. If you're done two years as an analyst in ibd, you might be an anlayst for a half year at bx before getting the bump to associate. I could be wrong, but this was from someone within the company.
Can confirm this is correct. Assuming you join after 2y in banking, you will need to wait for another half year until promoted at BX due to their winter bonus / promotion cycle.
Thoughts on doing SA at Private Credit MF as penultimate year student?
Make sure you know what you’re getting into…some of these so called private credit guys just invest in bank debt that meet their return requirements. This is not a bad seat, but it can get pretty fucking boring pretty fucking quickly. If they do direct lending, this might be a bit more interesting but to my knowledge most of the pure play direct lenders don’t take summer interns (and definitely not penultimate year undergrads unless it’s through nepotism CVC cough cough)
I spoke to the interviewers about the fund and it seems to be more exciting stuff: direct lending with targeted IRR of 8-12% meaning a mix of senior, unitranche and some convertible debt. Is this considered more interesting than other fund mandates as it still has deep DD while also being focused on downside protection?
I’m just wondering if I should’ve just gone with IBD SA for a more ‘varied’ skill set in case I decide not to continue or don’t convert to FT?
Also, I’m surprised I even got the role given my lack of experience and certainly no nepotism but I’m working hard to get up to speed before the summer.
If it's Bain good luck cause you're gonna need it lol
Thank you for your wishes of good luck and although I’m not at Bain, I want to know what’s going on over there?
Not the best culture and a crazy MD in one of the teams
Lol I don’t know any other large cap credit shop running summers but fairs.
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