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High comp long hours. At the bottom of the food chain you’ll be worked just like in tradition MF PE. On a live deal, you’ll work a ton. 9 AM until whenever.  Not on a live deal, you’ll also probably work a ton. You’ll be paid well for it. 200+ by year 3. If you want a more consistent lifestyle. Asset management will be better here. With that said, had a buddy in AM at a MF and when I asked him why in the world his hours were so terrible - he said it’s not the work that is so much. But we get investor information requests that need to be answered in a timely manner. So just taking care of those requests which happen often, creates the long hours. 

 

Happy to add my experience, which consists of +/-5 years in acquisitions at firms included in the OP's list and/or others that are direct competitors. Every firm is different, but you can expect to work on anywhere from 15-25 live deals at the same time -- all at different stages in the investment lifecycle (underwriting, presentation to subcommittee, IC, etc.). Hours per week can easily exceed 100 when it is really busy or you're working on a time sensitive deal. That said, on average, you're looking at 80hr weeks and working at least a few hours on Sat and/or Sunday every weekend. Compensation is healthy, as mentioned above (fairly accurate $ amt, actually), with some firms bucketing bonuses based on tiered performance, similar to banking. So, some opportunity to outperform. Depending on the firm, you are able to work across asset classes / markets, before being expected to specialize at the 10+ year mark. Agreed on Pudding's remarks re: stability on AM vs. acq. For the former, you're generally most busy around reporting periods vs. the latter who is always working to grow the portfolio.

 

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