Paid 11$/hr as an associate at a PE firm first 3 months. I can’t keep working like this. The trial I’m on is awful.

How am I supposed to make a living wage working 9-10 hrs here daily. Even if they doubled the salary with a long term contract it would only by 60k/year and with those hours no carry. They keep talking about bonuses and taking on more responsibility but honestly I don't believe it until I SEE it. PE was my dream job but this is as shitty as it gets for me. What are your thoughts on plans of action. I can't quit until I get a FT (FT pay & long term hire) because I agreed to a trial period. I am not a lazy snob but I know this is well below market rate and I don't see a way that they would or could even pay more than 60k and don't get me started on their supposed bonuses and non existent carry. I am expected to take phone calls until 10pm from the associates above me. Need advice and a better well rounded view of the industry and its firms levels etc.

Comments (17)

Jun 24, 2019

$11/h is absurdly low. Might not be a real firm...

Most Helpful
Jun 24, 2019

You must be one or more of: living in an emerging market, you dont have a degree, the firm is a scam, or you're back back office.

Lots of data on here about what PE associates make. If you're on the investment team, in the US, the expectation should be 6 figures including bonus.

    • 5
Jun 24, 2019

Completely agree. You're either working for a completely one-off PE firm or it's a scam

    • 1
Jun 26, 2019

I'd go with scam got it on my resume though. But still what a waste of my time and resources.

Jun 24, 2019

Lol, you aren't even working in PE. Find every fucking mean to get out of there and re-evaluate your options.

    • 2
Jun 26, 2019

I agree. How do they get away with this type of behavior.

Jun 26, 2019

You are literally the only person who can answer this question.

Jun 24, 2019

Lol Harvey & Co. isn't PE no matter what they tell you bro. Get out ASAP.

    • 2
Jun 26, 2019

I just read the reviews to that place and quite honestly what they described is exactly like the firm I'm at. I'll be quitting shortly. Thanks bro

    • 1
Jun 26, 2019

The Tobin & Co. of PE?

Array

    • 2
Jun 26, 2019

I mean, there are a lot of holes here to give you solid advice, but off the cuff I would say get out. What's your background?

    • 1
Jun 26, 2019

Running & owning businesses, Econ degree

    • 2
Jun 26, 2019

With a succesful sponsor exit, or small scale lifestyle? Not to be a jerk, but hardly anyone in this business cares about small scale lifestyle business experience. It's a completely different ballgame from what an institutional investor is looking for. They're more interested in your instituational pedigree (eg. IB, etc.). Not knowing your age, trying to get into a reputable IB might not be a bad idea.

    • 1
Jul 23, 2019

UPDATE: I WAS NEVER PAID. 2 months of working for their unprofitable asses and I quit. Then, I check back 2 weeks later and it says they are permanently closed on Google maps.

Ha that's what they get for treating their employees mostly all unpaid interns like scum and not focusing on making profits.

Looks like I'll be lying about this experience big time on the resume.

    • 3
Jul 23, 2019

What even?

Jul 23, 2019
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