PE compensation in Australia
Hi,
I'm currently recruiting for PE roles in Australia. I also have a hedge fund offer; so I'd like some points of comparison for compensation progression. I have some good data points for the US but want to see how they square up.
I also understand there's a mix of small, medium, and large firms so I'd also be keen to hear how the likes of KKR, PEP would stake up against funds like Anchorage, Quadrant etc.
How does the principal -> director -> MD -> partner
ladder look like and what comp should be expected at these levels?
a few years back I considered a move to Oz, found decent information on
https://www.glassdoor.com.au/Salaries/investment-associate-salary-SRCH_…
thanks for the link!
I had a look at the comp ladder and this seems.... low? I knew there'd be a pay cut compared to east coast but even disregarding the exchange rate this seems lower than what I'd expected.
Oz is a funny one - in some industries you'll get more than in London (Telecoms made an offer for significantly more than in central London), but banking seems a bit off. Their banks also operate in different ways, apparently? I have never worked in Australia, so this is all I can say, unfortunately.
But I do have a lot of friends who left for Sydney, Melbourne and Brisbane and... they never came back! apparently a very cool place to be.
As far as I know the role progression is analyst/associate > investment manager > investment director > partner.
In some funds carry can be granted even at an Associate level which is a plus. However, it is not as well structured/may not vest as mega fund carry does (i.e. can lose it if you leave).
Bonuses typically 50-100%.
Biggest local funds are: PEP and BGH.
Quadrant is probably one of the best performing funds, it shows up on global ranking tables.
By bonuses do you mean cash bonus? Also the promotion ladder / titles seem to be different across firms. At PEP it looks like director -> MD and seems quite top heavy while KKR its principal -> director -> MD -> partner? How would these map onto US-centric roles?
BGH is very new and it'll be interesting to see how they perform. Quadrant from what I have heard has fantastic execution.
Yes, cash bonus % (based on what I have heard).
You are right, the bigger funds seem to align their role levels to the international mega funds so titles like VP/Director/MD show up. My comment is closer to how LMM/MM.
Also interested in how the international PE funds such as KKR and Bain compare to the local ones such as BGH and Quadrant in terms of reputation and performance
Aus monkey here - interested to hear about any comp data points in various levels of IB, HF, and PE.
Anyone have any insight into how BGH is tracking? I was curious how such a big fund would fare in a relatively small market, assumed they would have to swing at all the take privates and compete with the larger regional funds in every deal.
I've heard 120-150 base + 50% bonus for PE associates with 2yrs of IB. The below is a link to a video of head-hunting firm which gave insights to comp.
https://vimeo.com/460023827/76f62f2d19
Anecdotally, I heard all in all comp is only higher at MFPE compared to BBIB and most MMPE firms pay below IB.
What’s MFPE in Australia….? PEP with their A$2.5B fund? Lmfao
as in global funds in Aus like KKR/BX/Carlyle Sydney office
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