What are your perks?
Inspired by a thread I saw on IB asking for what dinner budget was. Understand that there is a bit more nuance perhaps in the PE space so curious to what you guys are seeing. I'll start - at a MF:
-
$30 dinner budget, all days of week. Weekends have to clock in time but pretty lax there
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Unlimited Uber/ridesharing after work
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No fitness budget/mo sadly
-
No free swag (no jacket/vest/bag)
DB, $25 meal stipend, standard swag stuff (bag, water bottle, etc…), but the best is the free legal services!
MM PE. $25 for dinners on weekdays - only when working in office (nada when WFH). $25 working in office on weekends for food. Cars are covered to your home during the week but not on weekends
So if you get called into the office on a weekend, you have to pay out of pocket to take an Uber home?
MF PE
~$35 for dinner stipend during week after 8 PM or if working more than 4 hours in a day on a weekend, must be in office
Free catered breakfast / lunch / coffee in office
Car ride home after 9 PM, on weekend can go to and from the office
Think we have a fitness stipend of $800 annually but you have to prove going to the gym x times per 6 months or something like that (honestly haven’t looked far enough into it since it’s complicated)
Business class travel if flying >2 hours
Insane that they ask you to prove how many times you go to the gym for the fitness stipend. I bet the woke fat crowd or whatever would really take offense to that. "Everyone progresses at their own level" or "everyone works out in different ways".
Hah it's probably provided in partnership with the insurance company so you actually have to assert some benefit to both sides...
Free catered breakfast/lunch? Man. That's awesome. Business class free upgrade is nice too.
Is the Business Class for Personal Travel too?
What firm if you don’t mind me asking? Phenomenal perks imo.
UMM consultant friendly fund
1) Dinner budget of $50 if in office past 8pm
2) No transportation reimbursed for home
3) Monthly stipend of $1500 (taxable) for tech/food/anything else
4) All business class travel for flights >2 hours
5) Reimbursed subscription to all major business news periodicals
Is this for personal travel also?
Not the original commentor, but I would say it is not market to have personal travel perks outside of earned airline miles and status. AKA, If I hit Gold Level for United, Delta, American, its just on my account and I use the same account to book personal travel.
UMM
1) Dinner $50 max after 7pm
2) All business class regardless of hours
3) Phone bill paid
4) Uber/taxi after 9pm
Sounds about it
UMM PE
1) $40 dinner stipend if you are working past 7 PM (pre-COVID) but now past 5 PM
2) Ubers to and from the office are free after 7 PM
3) In-house kitchen staff that prepares lunch on weekdays. Basic breakfast (cereal, bagels, English muffins, etc.) usually there but sometimes they'll make breakfast as well. Lot of snacks and drinks.
4) Small gym within the office with a fitness instructor who teaches classes 3x a week
5) Business class travel if flying >2 hours (sometimes take corporate jet, think usage has increased post-COVID)
6) Good amount of free swag (pullover, spring jacket, raincoat, vest, duffel bag, YETI water bottle, etc.)
7) Rental car discounts
8) Co-invest opportunities (capped $ amount per deal but fairly generous)
9) ~15 hours of free MBA admissions consulting and $1,000 or $1,500 toward GMAT prep materials and classes
EDIT: We also have a monthly social budget for associate outings and an annual associate ski trip (travel / lodging / tickets / equipment fully covered for associates and plus ones)
Definitely a massive upgrade over banking with respect to perks
I needa know your firm
I need to work here lmao
That's pretty crazy. I'm in LMM and we have nothing, granted it comes with the territory given small overhead.
Is this Bain?
Not Bain
It says UMM
Incredible. Seeing the MBA consultant / GMAT budget are you guys a 2yr and out program?
Historically, we have been, but we have recently started to promote people without business school. It's an older firm (e.g., Berkshire, THL, MDP, GTCR, etc.).
Dude do you mind PM which firm this is.
Sent
What firm? Please PM if possible thanks!
Would also love to find out where this is
Sounds like THL?
What firm if you don’t mind sharing? PM
It’s a Boston based firm. Not Berkshire…
Please PM me the name of your fund. Thank you sir.
Is this an UMM in Boston? Thomas H Lee Partners??
Not sure if my prior comment posted. Could you please PM me as well.
Can you dm me and let me know what firm/city this is? Guessing this is in NYC? Tysm
Could you pls pm
CBP?
I think I know the firm ... is this in tech?
Could you please pm me as well
This is wild
This is CODI
Pm firm please I know I am very late
deleted
Can you PM firm please! Would love to know
MM Fund (~$1.5Bn fund size)
- No formal dinner budget (effectively $50 though because you need a receipt for anything above that and it’s just sort of a pain to go through that whole process)
- First class everywhere (usually take the jet if traveling with a partner)
- $1000/person annual budget for bonding events at each level (associates, VP//principles, admin staff). You can also expense random HH / dinner events outside of this budget
- $1000/year for general wellness (very loosely defined but can include gym, personal training, home fitness equipment, massages, masterclass, etc.)
- Other things: very good health/dental/vision coverage that is completely paid for, cell phone and home internet covered, Ubers to office/home are covered
can you clarify what you mean by hh events?
Happy hour
Could you PM me name of firm?
Can you pm me the name of your fund. Thank you sir.
Pm for name of fund please?
Do those who work at some of the firms with great perks also have good comp?
interested as well
I think second years in this past class made $360K all-in at the top end (before banks announced their bonuses). This is for the firm shown as the best answer.
My GE firm has some truly amazing perks (see my detailed answer below), along with $500k cash comp + deal carry (which usually adds up to more than my base each year) + fund carry for 1st year post-MBA senior associates, and most importantly very solid WLB relatively speaking (50-60h, barely ever any weekend work)
Must drop this fund name!
are there any real risks / downsides to disclosing the name of firm if posting anon? would be cool to be able to compare perks
lol im at lmm and we get basically none of this... but we work 40-50 hrs a week. so not sure if that tradeoff is worth it
MM PE ($700M fund)
- Free lunch: Doordash link sent around everyday
- No transportation stipends (Office in the suburbs)
- First class travel on all flights
- No health stipend
- Great WLB
Commented on wrong post
Top GE:
Jeez NY or SF?
Damn, which GE?
NY! Top GE, think Insight/GA/TA/Summit
Y’all hiring or what??
Guessing this is Insight, if so they are hiring like crazy - think their team doubled in the last year
How much of the role is sourcing oriented
Any chance you can DM me the name!
Can you PM name?
Mind PMing which firm?
Mind PM'ing the firm? Very interested.
Wow
Can you pm me the name of your fund. Thank you sir.
Stopping power, steady aim, 3x frags.
MMPE
Co-invest with fund-provided leverage
Free breakfast, lunch, and dinner (no price limit, just “be reasonable”)
Free transportation to/from office
Regular team outings at partners’ properties (ski trips in Aspen, summer days in the Hamptons, golf at highly exclusive clubs, etc)
$300 per month to spend on social, professional, or fitness memberships (Equinox, SoHo House, etc)
Flexible spending on the corporate card if at least 4 team members are present (again, “just be reasonable”)
First class travel on flights over 2 hours
No limit on hotel budget (same as above)
what firm lol
Need the name for this lol
Mind pming which firm?
Mind PMing firm name?
mind pming firm name?
Where’s this?
Anyone figure out this firm? mind PMing if so
Please PM me the name of the fund. Thank you.
Could you please PM me the name of this firm?
could you pm which firm please
Can you plz pm the firm name?
$50bn AUM credit- and real estate-focused firm
- $20 seamless lunch when in-office (select from a rotation of 5-6 restaurants per day shared across the firm)
- $25 for dinner when working past 8pm (also in-office only)
- Ubers if leaving office after 8pm
- $55/month for cell service
- $1000/year (taxable) for gym membership/outdoor recreation (eg ski tickets)/etc, plus large discounts at a few luxury gym chains
- Business travel for flights over 3 hours
- Annual 3-5 day international team outing (at least pre-COVID)
- Very good health, dental, vision insurance (or at least better than I had at BB IB)
Nice
Dude why do you keep asking this question. Business and personal flights are mutually exclusive. This has been established numerous times at this point.
What are the perks at London PE firms? Never heard about free ride to the office
You'll just be stuck in traffic lol
Anyone know US MF perks
For me it was $50 dinner budget and rides home (I'd often do rides to the office too with no opposition). Otherwise perks were pretty light compared to banking though we never thought anything of it.
MF RE (work under an extremely lax MD)
No time cutoff or budget for dinner expense, but keep it reasonable so really anything under $35 is usually fine and after 8pm is what ill draw the line for myself
Generally can call a car if I'm in past 10 or so
Free office wide lunch one day a week
$1k year gym stipend; apple watch / fitness tracker stipend
All expenses covered during travel (usually ~5-10 days a month?) First class > 4hr flights; jet for weird places if commercial is a pain
$100bn + AuM firm in NY.
Pay - sub 200k TC in NY for top bucket Y1 associates in 2020 with a portion of bonus paid out in stock with three year vest.
$10 - daily lunch stipend only if in office and only through Seamless.
$10 - dinner stipend if you stay past 930 only if in office. Need to expense individually through expense tool.
Ubers home after 9:30. Need to do expense individually through tool.
Economy / basic economy flying if travelling for work unless international then allowance of 200 to "upgrade" if you want. Can fly private if you own said jet and pay for fuel.
Cabs to airport not allowed in certain international offices
$60 / quarter fitness stipend.
"fun office and team events"
Annual ski trip that you pay for lift tickets, lodging, and travel there. Company pays for a dinner when you are there.
25 days of vacation.
No WFH tech stipend.
Got two waterbottles, a vest, and a gym bag.
100% back in office in July.
Can list private equity associate in hinge profile.
this is rougher than my lmm firm lol. hopefully the hours dont suck at least!
What kind of garbage firm is this? $10 for dinner in NY?
No cab to airport - will they expense a bus ticket to the nearest bus station instead then??
Partners Group lol?
I am not uncertain this is PG.
...
What type of perks can you expect at a MF like BX/KKR? Joining one of these soon so just curious if perks are limited here in comparison some of the other UMM/MM firms listed here
My post (labeled as MF PE) is one of those two so there ya go
...
Leading industry-specialized boutique:
Any MFs/UMMs offer MBA sponsorship (tuition reimbursement) for Associates like MBB in consulting do? Seems like a crazy deal where you basically have top mba program paid for and a guaranteed job after?
Usually this is offered if they give you a return offer post-MBA. I know that at least Warburg does this for people they want to come back. Can’t think of a better setup than going to a top MBA for free with a job already locked up
Have heard of this. With clawback provisions though.
MF PE in London (>$10bn Fund Size)
US PE?
Yeah, US MF but based in London.
...
mind pming what firm - UK citizen in US for IB looking to head back
Do you get dental under PMI? In London MM - want to push for this.
Which firm?
Qatalyst:
Mon-Fri $40 for dinner after 6pm (always able to be used on groceries)
Saturday/Sunday and Holidays it’s $75 per day
Friday (analyst dinners)
Ubers back home free
LMM Special Sits credit
Catered lunch daily
Ubers to and from office regardless of time
Liberal use of corp card for expenses
Dinner after 7pm, no cap but dont be stupid
excessive macallan at closing dinners.
UMM
- $25 for lunch in office and $40 for dinner
- Ubers to/from office
- First class everywhere
- Stay in fancy hotels when traveling
- $300 reimbursement for gym membership
- Pretty liberal with corp card for team building (e.g., grabbing coffee with coworkers, impromptu HHs, the associates do fancy dinners and drinks once a quarter or so)
- Pay for MBA costs (app fees, GMAT registration/classes, admissions consultants, etc. Heard an associate tried to get his trips to admit weekends paid for but don’t actually know if that’s true)
- Subs to business publications paid for (NYT, WSJ, FT, Bloomberg, etc.)
- $500 Amex gift card for Christmas
- 5 week sabbatical for every 5 years of service
- Very very good healthcare (everything is essentially free with no deductible) with all premiums paid
Can you dm me the firm ?
Sixth Street?
Pretty similar to my firm
Could you pm me your firm please?
Curious if you or others have insight on what healthcare benefits are typical across PE? Had surgery over the past year and it was basically my first time using health insurance, other than standard preventative stuff. After deductible and coinsurance, ended up being ~$25k out of pocket and a bit of a shock. Hadn't ever paid attention before and just assumed I had fine insurance, or never thought about it. Realizing now I don't have any frame of reference for what is good vs. bad health benefits across the industry.
That's like absolute shit tier coverage even out of network with co insurance you should hit your out of pocket max before then wow
Could you pm firm please?
Can you pm the firm name?
S&T at a European Investment Bank in NYC, literally no perks
- No $ for lunch, no $ for dinner (maybe a few catered cookies and fruits when the ceo visits once every quarter)
- No ubers ever (except for that one time subways were flooded and we had to go to the office because we have a strict no wfh policy...)
- No first class
- Cheap hotels
- No gym membership/subsidy/benefits
- No corp card
- Low quality Healthcare etc.
Honestly can't really name a perk....
Curious about industry boutiques such as MTS and TripleTree? Any insight is appreciated, thanks.
I receive a paycheque
MM/UMM NYC
MFPE NYC
Some good. Some bad.
what % below market on comp?
Hard to judge without having worked elsewhere but would say ~15% below market (for MF) all-in cash comp. Hours are definitely market.
I get to leave by 6:30pm
MFPE in NYC
Insight?
Any insight into perks at firms in LA?
Are bags and vests typically given to associates at large funds or is that more of a banking thing?
We do, and at least a few others, but it might not be universal.
My firm makes us pay for swag. It’s absurd. They set up tables at events and ask you to buy a company branded water bottle.
i work at Sycamore Partners, we have some OK perks
- daily lunch from our choice of capital grill / mastros / avra a few more but i ussually go avra
- in the summer the company will give us stipends for Montauk houses and weekend Blade helicopters to and from the hamptons
- free apartment maid service
- we get an dating stipened that can be used for premium versions of hinge / tinder - i use it for onlyfans accounts
- access to a fleet of sports cars for daily / weekend use
- complimentary golf tee times at several mid tier courses in the tristate area on the weekends and we have a program that fast tracks us for membership at Winged Foot and Sleepy Hollow
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