Can anyone already working as an associate in PE give an overview of the private equity lifestyle? Did a search on the forums and could not find anything recent. Looking for details such as:
- Do you work at MM, FoF, Megafund?
- What are your typical hours in a week?
- How often do you work weekends?
- What is compensation generally speaking for base + year-end?
- What's the percentage breakdown between analysis, traveling, sourcing, etc.? (Or whatever is in the daily life of a PE associate?
- Are there any special perks working at your firm? (I hear some PE shops organize sweet company trips)
What Is It Really Like to be a Private Equity Associate?
While lifestyle is likely to vary based on deal activity, location, team and many other factors, a few current PE professionals shared their experiences in the industry:
PE Perks are Awesome
From Certified Asset Management Professional - 1st Year @HFFBALLfan123 :
- Work at MM
- At the office around 60 hours a week but always on the hook for calls at all hours (overseas work)
- Almost always have something to do over the weekend but don't go to the office.
- Daily breakdown is always changing but i have been traveling a lot lately, do all the modeling as the young guy, zero sourcing... most of the days are spent on the phone gathering info and then nights actually working on shit...
- Perks are awesome to fucking awesome
Little to No Weekend Work in PE
From Certified Private Equity Professional - 3rd+ Year Associate @samoanboy :
- I work at FoF but focus most of my time on co-invests and secondaries.
- 50-65 hours per week, the top end will usually include travelling time. A normal week at the office will rarely see me in later than 7.30pm (i get in around 8am).
- Never work weekends except traveling and the occasional three line blackberry message or forward.
- I spend 40% of my time on DD, 30% on monitoring portcos and funds, 10% on admin bullshit and the rest on travel/lunches/gym etc
- Perks are mainly the lifestyle which is reasonably laid back and the access to senior partners / CEOs etc (as well as the fancy lunches, 5 star hotels etc - which actually lose their appeal fairly quickly).
PE Less Intense than Banking
From WSO user @CubicleCrowd :
- Work at a MM
- 60-70hrs per week but a lot less intense than in banking and with lots of free time during the work day
- Never work weekends
- Base is just above what i had in banking (around $100K), dont know about bonus yet
- Almost no travelling, very little sourcing, mostly analysis
- No amazing perks, some team events that juniors initiate but nothing else. but in larger pe shops they have regular off sites
- Why Do People Choose Megafunds Over MM
- Private Equity Overview
- WSO Private Equity Forum
- West Coast PE Firms with Great Lifestyles
- The Promised Land of PE Turned out to be a Monster Land
- Why PE: A Complete Guide
Want to learn more about the Private Equity industry?
Check out WSO's PE Industry Report for compensation details, company reviews and university employment and recruitment trends.