Private debt comp (excl NYC)

Analyst 3+ in IB - CB

Was looking for non NYC/SF private debt comp for analysts, associates or VP's? Im in a second tier city and at about 150k all in as an associate. Wondering if that's in line with market

Comments (17)

  • Analyst 2 in PE - Other
Feb 11, 2020

Definitely below market depending on fund size - what is fund size and AUM?

  • Analyst 3+ in IB - CB
Feb 11, 2020

It's a large direct lender with a variety of funding sources. Think Golub/Ares/Antares/Barings/Midcap. Also, hours are probably on the lighter side (45-65)

  • Analyst 2 in PE - Other
Feb 11, 2020

Gotcha - well Ares first year associates are bringing in $225k+ and Golub associates are $200k+ so that kind of narrows it down. I'm assuming it's an Antares / Barings type fund. I've seen other associate numbers in tier 2 cities around that figure. Given significantly lower COL and hours, I'd say what you're bringing in, isn't a bad deal, but if you're looking to move I would target funds such as Ares, Golub, Varagon, GSO, HPS, etc. that are known to pay significantly more than other peers in private credit

  • Associate 1 in PE - Growth
Feb 11, 2020

this Asso 1 at my company made $150 all-in. Direct Lending, tier 2 city. thinking it's time for me to start recruiting....

Feb 11, 2020

Is it just me or is this comp is not attractive relative to similar fields in tier 2 cities (thinking DCM/LevFin/Loan Capital Mkts)?

45-65 is a wide range but you can definitely get more comp if you're OK in that 55-65 range.

  • Analyst 2 in PE - Other
Feb 11, 2020

I think $150 is more of the exception than the norm. If you're a reputable private credit fund recruiting former IB professionals - the vast majority of 1st year associates are making $200k+ (I know this for a fact as I've talked to various friends in the industry).

Most Helpful
Feb 12, 2020

Before yungins start shitting all over this, realistically a 150K package in a T2 city for a job which has 45-60 hours is pretty dope.

Sure in NYC we all make more but we are spending way more for way less space, way more per drink, can't even drive or own a car, and end up spending 35 bucks to go less than a mile in an uber. Don't underestimate a low cost of living (operating assumption is that OP can feel me on this).

Signed - from someone who will not leave nyc but is from a 2nd tier city

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  • Analyst 3+ in IB - CB
Feb 12, 2020

Totally can agree. I do think that people don't discount NYC's COL when comparing to others given it's fun to brag of gross higher comp number.

Feb 15, 2020

Not as attractive when you already have the described gig at an investment bank for around $200 all in

Feb 14, 2020

Still low for a T2 city. Did you come out of IB? If not, as unfair as it may seem, there will be a discount to your ex-IB peers.

  • Analyst 3+ in IB - CB
Feb 15, 2020

No I did not. I know i make the same as others but to your point, the majority of people came straight out of school or non IBD

  • Analyst 2 in PE - Other
Feb 15, 2020
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