Does anyone have any insight into Partners Group’s Denver office? Specifically what it’s like for Associates / Sr Associates / VPs in the PE direct group? Have heard incredibly mixed things on this forum and elsewhere, and seems like things might have gotten better over time (lifestyle and comp)?
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Compensation is the biggest issue at Partners Group. It is a well paying W2 job but you aren't making fuck you money and that compensation level will not change. The fuck you money ship sailed with people who started in the 2000s and held onto their stock prior to Partners Group's stock 15xing.
There is no incentive to change this dynamic as senior leadership, which still is around, continues to hold their stock and receive significant dividend compensation at the 3% dividend rate. Any change in this compensation philosophy has a significantly negative effect on the stock price of the firm so management will never bring compensation to market.
Management has claimed that they brought compensation up to market by title, which it is still significantly below at all levels, but then also advertises that Partners Group's titles are unique, ie hiring post-MBAs as associates per their current private equity job posting. Senior team members who joined recently probably make half or less of that compared to peers at other firms.
The lifestyle is pretty unique to the industry from both the outdoor-centric location in Denver and the European firm culture so vacation is valued quite a bit more than other funds. Due to the Swiss nature of the firm, lots of early mornings, and extremely bureaucratic and process driven. On hours if you are on a deal you are going to grind but hours aren't year-round 90+ hour weeks. MBAs are not required to advance. Responsibility wise, you do get early responsibility however this dynamic is changing as more mid to senior levels are hired in. Location is in a suburbs office park so in-person networking will be a huge struggle once the world gets back to normal.
Good place to learn, get experience, and then move on if you want to make anywhere close to market compensation. If this is your only offer, or your only offer at this deal size level, its a good seat to take for the experience. If you have the option to go to any fund at say 2b+ in AuM, you probably should take that. Partners Group also doesn't really compete with UMM funds for talent in the United States so I don't expect candidates to have that decision. Turnover remains high and will remain high until management solves its compensation problem.
Agree with that. Especially in the US you are far from Switzerland where the IC sit. Culture is not not the best but depends on team. I have heard they are currently changing organisation. Also lots of internal talents who think they are the shit while they were recruited undergrad and know nothing of business. Very process driven deal making where your voice is not really valued until VP.
How would you think about the exit opps for a Sr Aso / VP? Esp if moving out to Denver and would prefer to stay out there...
If you intend to stay in Denver, Partners Group may be your best option. Going to be semi-difficult to go from the size of deals they do significantly down market to the other firms here without resetting. It's ultimately a different job. Most people who have left have moved to similar sized firms in larger cities or out of industry.
There may be funds that move their presence to Denver long term.
How "bad" are we talking on comp?
~3-5 years ago I had an analyst offer there that was either $65 or $85 with de minimis bonus iirc
Analyst comp is around 110-120 all in after the comp reset.
post MBA associate: $110K base +30 (?) bonus
No way....
All in comp with bonus post MBA is 175-200. 110+30 was prior to adjustment.
Did they already recruit for 2021? The job posting had disappeared from their career website - anybody had interviews/offer?
How're exit ops out of Denver? Would be cool to live there, but feel exits would be limited from a regional city, especially one with a comparatively small finance scene
most analysts from PG denver move to NYC office after 2 years and then ur back in the ring
Not really tryna move to NY either haha. My question is other than relocating to the place with the best exit opps (NY), what're your options out of Denver? On the surface I'm assuming they'd be very limited, hence my concern despite how cool it'd be to actually live there
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