Reps and Warranties Insurance Exit Opps and Comp Comparisons for a Young Chimp
I graduated from a strong, non-target Patriot league school in 2020. I just landed a job in Reps & Warranties Insurance at a large firm. For those that don't know, we work with IB/PE firms to insure buyers in M&A transactions so that the representations made by sellers about their companies are not bullshit. Also helps out sellers because they can take out an insurance policy instead of putting 10% of their sale in Escrow for 5 years. The underwriters on my team are former IB/PE guys or M&A lawyers looking for a better WLB. Long story short, although most people in finance clown on insurance; this is a great niche market that is growing in popularity and has some really smart/experienced people in it. Mainly, I am wondering how my comp compares to my peers in the IB/PE/Corp Finance roles at my age (23). My base is $75k but our group is very M&A law centric so we are encouraged to work 70 hours a week while taking overtime for everything above 40 hours. I calculated it and if I average 70 hours a week for the year it would come out to $150k. How does this compare in terms of work life balance and overall comp? Also, right now my plan is to put my head down and work hard as I can in this role for at least two years before looking for exit opps. Any advice on how to break in to the banking/PE side? Was thinking MBA or pursuing a CFA. Either way, I could remain in this path but that requires Law School and I don't know how I feel about it. If anyone has any advice, I would greatly appreciate it. Apes Together Strong.
CouldBeDown, hey, look at the bright side, at least you didn't get a ton of monkey shit thrown at you...here is my best guess on threads that might be helpful:
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You're welcome.
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