Private Equity Salaries
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Poast new message in this thread
Date: August 17th, 2005 7:53 AM Author: mewling lime senate
A friend got an offer from a large PE fund in New York.
500,000 for three years plus bonus.
Damn.
Will graduate from ugrad this coming year.
(http://www.autoadmit.com/thread.php?thread_id=241681&forum_id=2#3607781) |
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Date: August 17th, 2005 9:05 AM Author: mewling lime senate
The firm in question is a prestigious PE fund on wall street and recruits only from a very few select schools.
They have a ugrad summer internship program as well as hire straight from ugrad at said schools.
(http://www.autoadmit.com/thread.php?thread_id=241681&forum_id=2#3607862) |
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Date: August 17th, 2005 9:09 AM Author: mewling lime senate
But you do entertain the possibility that it is possible no?
So if it is possible then why would it not be true? I mean I was pretty suspicious myself when I first heard it from him, but I got confirmation from various sources in the industry.
(http://www.autoadmit.com/thread.php?thread_id=241681&forum_id=2#3607866) |
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Date: August 17th, 2005 9:10 AM Author: mewling lime senate
You don't know this kid. Incredibly talented, all his life in fact, and a standout at his college. Plus he's very charismatic to boot.
(http://www.autoadmit.com/thread.php?thread_id=241681&forum_id=2#3607869)
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Date: August 17th, 2005 8:56 AM Author: Galvanic rambunctious step-uncle's house dog poop
I also call BullShit...
with a good market, a little luck, and a degree from a top uni, he may pull down 300-350K over 3 years.
(http://www.autoadmit.com/thread.php?thread_id=241681&forum_id=2#3607857)
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Date: August 17th, 2005 9:08 AM Author: mewling lime senate
This is not bullshit. He comes from HYP and is very much Rhodes material.
High GPA in the quants. He will also be picking up a masters (Bachelors + Masters inf our years).
The fund in question is VERY VERY VERY profitable.
(http://www.autoadmit.com/thread.php?thread_id=241681&forum_id=2#3607865) |
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Date: August 17th, 2005 9:42 AM Author: mewling lime senate
Like I've said I've verified this from other sources including a few MDs in the finance industry.
This is not entirely uncommon. Star quant analysts at hedge funds make more than this as do those in the actuary sciences - so long as they pass the requisite examinations.
(http://www.autoadmit.com/thread.php?thread_id=241681&forum_id=2#3607960) |
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Date: August 17th, 2005 9:46 AM Author: mewling lime senate
Or quant/comp programming geniuses.
Plus those who do actuaries pull these kind of salaries only by passing tests.
(http://www.autoadmit.com/thread.php?thread_id=241681&forum_id=2#3607969) |
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Date: August 17th, 2005 10:15 AM Author: mewling lime senate
The high-lvl actuaries are in high demand because the tests are pretty hard to pass. So there is a premium attached for those who have the qualifications.
Though I heard the first three tests are pretty easy. I know someone who placed very well in the putnam exam and passed to lvl 5 or whatever really easily.
(http://www.autoadmit.com/thread.php?thread_id=241681&forum_id=2#3608098) |
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Date: August 17th, 2005 10:18 AM Author: Glittery Narrow-minded Prole
uh...the first 3 tests are like calculus and basic stats.
they're not hard.
(http://www.autoadmit.com/thread.php?thread_id=241681&forum_id=2#3608117) |
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Date: August 17th, 2005 10:24 AM Author: mewling lime senate
Stop pretending. You clearly and obviously do not know wtf you are talking about.
A relatively bright person who majored in Applied Mathematics or Econ with a heavy math focus should be able to pass the first three.
My friend who's a junior this year is going to take the first two this fall.
HTH.
(http://www.autoadmit.com/thread.php?thread_id=241681&forum_id=2#3608156) |
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Date: August 17th, 2005 9:45 AM Author: mewling lime senate
My friend told me that the interview was pretty laid back. Typical interview questions like "describe three attributes that would fit you" etc. He did mention that they did ask a few bizzare quant questions.
One of them that he found memorable was
"What is the degree formed by hands of a clock at ____ time."
The question itself isn't too hard, but he said it kindof took him off guard because it was thrown in randomly and because he had to answer it within a reasonable amount of time.
(http://www.autoadmit.com/thread.php?thread_id=241681&forum_id=2#3607966) |
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Date: August 17th, 2005 9:18 AM Author: Galvanic rambunctious step-uncle's house dog poop
http://www.london.edu/assets/documents/PDF/MiF_FT2004_employment_report-1.pdf
If you don't want to read it, it basically says that a Masters in Finance will land you a job with a salary + bonus in the range of 120K - 200K.
Bottomline: I call Bullshit.
(http://www.autoadmit.com/thread.php?thread_id=241681&forum_id=2#3607886)
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Date: August 17th, 2005 9:26 AM Author: Shivering indigo school hominid
absolutely bullshit.
(http://www.autoadmit.com/thread.php?thread_id=241681&forum_id=2#3607911) |
Date: August 17th, 2005 9:52 AM Author: Shivering indigo school hominid
From my brother in law who has been in private equity in New York for about 10 years now...
top PE firms dont even hire out of college, and even when they do hire someone with an undergrad degree after a couple years of work, it is typically for 2 years pre-MBA, then they get kicked out. Also, $500k/yr right out of undergrad??? i would definitely call bs on that...
the top firms probably pay their analysts (who have 2 or 3 yrs of work experience already) total comp of 250-350k at most...
(http://www.autoadmit.com/thread.php?thread_id=241681&forum_id=2#3607993) |
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Date: August 17th, 2005 10:00 AM Author: Shivering indigo school hominid
my bro in law responded to the modificated claim:
that is believable if he truly is a stud with connections...its just hard to believe that a top PE firm would hire right out of undergrad since he would not have any financial engineering/modeling experience...
(http://www.autoadmit.com/thread.php?thread_id=241681&forum_id=2#3608024) |
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Date: August 17th, 2005 10:06 AM Author: Shivering indigo school hominid
hence, no reason to discuss it.
(http://www.autoadmit.com/thread.php?thread_id=241681&forum_id=2#3608045)
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Date: August 17th, 2005 10:22 AM Author: mewling lime senate
The thread itself is not absurd. I wanted to spark discussion about PE not whether or not my friend's salary is legit.
Regardless it's been a very entertaining thread just to see you get so worked up.
btw PE Funds do hire out of Ugrad. You are probably more familiar with Venture Capital Funds - a variety of PE which are smaller and recruit from more experienced hires. However, large firms, such as Blackstone, do very much hire straight from ugrad.
(http://www.autoadmit.com/thread.php?thread_id=241681&forum_id=2#3608143) |
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Date: August 17th, 2005 10:10 AM Author: mewling lime senate
http://www.blackstone.com/careers/recruting.html
Blackstone is the TOP firm and they do hire RIGHT OUT of ugrad.
The guy in question is a quant whiz with stellar modeling background. He models EVERYTHING.
(http://www.autoadmit.com/thread.php?thread_id=241681&forum_id=2#3608062) |
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Date: August 17th, 2005 10:11 AM Author: Umber haunting newt
I don't know what Blackstone is, but they hire undergrads for their analyst program, as most banks do, hth.
Your buddy is an exceptional example, hth.
(http://www.autoadmit.com/thread.php?thread_id=241681&forum_id=2#3608079) |
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Date: August 17th, 2005 10:13 AM Author: mewling lime senate
Blackstone = #1 PE Fund on Wall Street.
HTH
Clearly you have no knowledge of wall street nor PE. Not recognizing Blackstone would be like me claiming to have IBanking knowledge and not recognize Goldman.
HTH
(http://www.autoadmit.com/thread.php?thread_id=241681&forum_id=2#3608089) |
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Date: August 17th, 2005 10:16 AM Author: Glittery Narrow-minded Prole
what were the names he mentioned?
KKR?
(http://www.autoadmit.com/thread.php?thread_id=241681&forum_id=2#3608106) |
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Date: August 17th, 2005 10:16 AM Author: mewling lime senate
Your BF is TTT. Business school is even more TTT.
HTH
(http://www.autoadmit.com/thread.php?thread_id=241681&forum_id=2#3608107) |
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Date: August 17th, 2005 10:19 AM Author: Glittery Narrow-minded Prole
how much did your prestige fall when you stopped dating him?
90%?
(http://www.autoadmit.com/thread.php?thread_id=241681&forum_id=2#3608122) |
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Date: August 17th, 2005 10:27 AM Author: mewling lime senate
MBAs are a stepping stone. Especially in the finance world. They teach you nothing you don't already know.
Plus if you work for a prestigious firm the chances of admission to HBS, GSB, Wharton are very very high.
BCG for example, which is only MC, boasts an 80% acceptance rate at top 5 b-schools.
Compared with med or law school, MBA admissions are pretty TTT.
(http://www.autoadmit.com/thread.php?thread_id=241681&forum_id=2#3608175) |
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Date: August 17th, 2005 10:32 AM Author: Shivering indigo school hominid
You said exactly nothing.
Sure, you don't necessarily "learn" things you wouldn't learn anyway. But to underestimate the value of an MBA is just ignorance. You can have a nice career in finance without one, certainly, but good luck getting to the top of your field, let alone firm, without one.
(http://www.autoadmit.com/thread.php?thread_id=241681&forum_id=2#3608206) |
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Date: August 17th, 2005 10:36 AM Author: mewling lime senate
Thus as I said its a stepping stone in your career.
Work two years as an analyst. If you don't make associate you get your mba.
Come back or goto a new firm as an associate.
I work at a top five b-school.
(http://www.autoadmit.com/thread.php?thread_id=241681&forum_id=2#3608234) |
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Date: August 17th, 2005 10:39 AM Author: mewling lime senate
Just as you "know" alot about PE and actuaries.
HTH
(http://www.autoadmit.com/thread.php?thread_id=241681&forum_id=2#3608251) |
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Date: August 17th, 2005 10:38 AM Author: mewling lime senate
No shit sherlock. Read what I wrote.
You don't learn anything. Its there because without it you cannot progress.
READING COMPREHENSION.
"None of the tests are that easy. Why are you spewing this secondhand knowledge."
Dumbass.
(http://www.autoadmit.com/thread.php?thread_id=241681&forum_id=2#3608240) |
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Date: August 17th, 2005 10:29 AM Author: mewling lime senate
Yo I said that in context to our discussion. Obviously HBS is not TTT, but business school in general (which is what I said) is pretty TTT compared to other graduate programs - namely med and law school.
Also you DO NOT KNOW JACK SHIT. As highlighted in the above post about actuaries.
HTH
(http://www.autoadmit.com/thread.php?thread_id=241681&forum_id=2#3608186) |
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Date: August 17th, 2005 10:42 AM Author: mewling lime senate
I'm not the one making a hissy fit. Plus all the information I have posted so far is true, whereas half the shit you are saying is either false (actuaries) or indicate your lack of knowledge on this subject (like not recognizing Blackstone or the fact that PE funds do in fact recruit ugrads).
Plus another poster verified the salary information I was giving out below.
(http://www.autoadmit.com/thread.php?thread_id=241681&forum_id=2#3608261)
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Date: August 17th, 2005 10:53 AM Author: mewling lime senate
Uh information on actuaries is not anecdotal as another poster pointed out.
Information on salary ranges also not neccesarily anecdotal. Another poster confirmed with similar data.
HTH DUMBASS
(http://www.autoadmit.com/thread.php?thread_id=241681&forum_id=2#3608322) |
Date: August 17th, 2005 10:21 AM Author: High-end rusted locale
I suspected PE salaries were high but I had no idea they were at this level. Seems possible though. I know somebody at KKR (no MBA, two years analyst at a top ibank) who has only said he's making "a lot more" than he did at the ibank. I wonder if he and his buddies read up on law firm salaries when they need a good laugh.
(http://www.autoadmit.com/thread.php?thread_id=241681&forum_id=2#3608134) |
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Date: August 17th, 2005 10:30 AM Author: mewling lime senate
Well Ibank salaries + bonus at the two year analyst level is maybe 120-140K (60/70K Base 60/70 Bonus).
(http://www.autoadmit.com/thread.php?thread_id=241681&forum_id=2#3608196)
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Date: August 17th, 2005 10:22 AM Author: Glittery Narrow-minded Prole
oh yeah i have this spreadsheet made by presumably analysts at ibanks who gathered information. it's from 2004. blackstone paid 90 base, 110 bonus. and "Co-Investment program available." So 166 base + a bonus like that now seems kind of not as believable.
(http://www.autoadmit.com/thread.php?thread_id=241681&forum_id=2#3608142) |
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Date: August 17th, 2005 10:35 AM Author: mewling lime senate
The progression goes as follows from year one to year three (I have an updated spreadsheet from a friend who works at Blackstone)
Year one:
60 Base 70 Bonus
Year two:
70 Base 80 Bonus
Year three:
100 Base 120 Bonus
500K exact.
This is only slightly less than HF work which typically goes:
60/70, 65/80, 70/170
(http://www.autoadmit.com/thread.php?thread_id=241681&forum_id=2#3608228)
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Date: August 17th, 2005 10:39 AM Author: Glittery Narrow-minded Prole
this is for their P/E side and not their Ibanking side?
I guess our spreadsheets are different.
(http://www.autoadmit.com/thread.php?thread_id=241681&forum_id=2#3608245) |
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Date: August 17th, 2005 10:56 AM Author: Glittery Narrow-minded Prole
well, i'd like to confirm stuff i heard from headhunters. as i mentioned above, my gf is interviewing for pe firms. she said that mega funds like blackstone and kkr have already m ade their offers, and now all the other funds, ranging from very good to pretty small are interviewing people right after labor day.
typically, a successful applicant would go through how many rounds? 1st-2nd-final? and what is the time commitment for these rounds? whole day for final?
(http://www.autoadmit.com/thread.php?thread_id=241681&forum_id=2#3608337) |
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Date: August 17th, 2005 11:10 AM Author: mewling lime senate
I really don't know too much about how the interviews go. Typically people go through 1st - 2nd - Final and then some sort of informal dinner round before they make their decisions.
My guess is that the smaller firms might be different. Maybe more careful and nuanced interviews since they probably care more about team dynamics and not fucking up by selecting someone who won't produce. But this is just speculation on my part.
Finals shouldn't take a whole day.
(http://www.autoadmit.com/thread.php?thread_id=241681&forum_id=2#3608413) |
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Date: August 17th, 2005 11:24 AM Author: mewling lime senate
It would be the best hookup ever. She makes shitloads of cash, doesn't have anytime to spend it.
And you get sex out of the deal to.
Sweeet.
(http://www.autoadmit.com/thread.php?thread_id=241681&forum_id=2#3608565) |
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Date: August 17th, 2005 10:41 AM Author: Charismatic hell
There isn't a single analyst at Blackstone in the PE group that came right out of college.
edit: I take that back. There are 2 according to their website.
(http://www.autoadmit.com/thread.php?thread_id=241681&forum_id=2#3608259) |
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Date: August 17th, 2005 11:14 AM Author: High-end rusted locale
The Asians in Wharton's specialty programs (Hunstman, etc.) are incredibly toolish.
But at least they're rich tools.
(http://www.autoadmit.com/thread.php?thread_id=241681&forum_id=2#3608467) |
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Date: August 17th, 2005 10:39 AM Author: Glittery Narrow-minded Prole
Mean $91.4 $110.2 $201.6 $106.0 $142.0 $248.0
Median 90.0 105.0 198.0 110.0 135.0 240.0
High 110.0 160.0 245.0 115.0 185.0 295.0
Low 75.0 90.0 180.0 95.0 115.0 230.0
I'm not formatting this.
(http://www.autoadmit.com/thread.php?thread_id=241681&forum_id=2#3608250) |
Date: August 8th, 2006 10:25 AM Author: lilac bull headed casino
Wow Nico Blue and Carrotlover are idiots and got pwned.
(http://www.autoadmit.com/thread.php?thread_id=241681&forum_id=2#6398417) |
Date: April 27th, 2008 8:43 PM Author: Startled Histrionic Den
bump
(http://www.autoadmit.com/thread.php?thread_id=241681&forum_id=2#9695298) |
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