Top Private Equity firms pay over $200k MINIMUM START
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Poast new message in this thread
Date: September 12th, 2005 11:40 PM Author: Diverse ocher temple immigrant
Friend recently received his offer from a top private equity firm, NY office. Starting guaranteed compensation is in the low/mid $200k range, with discretionary bonuses boosting it even higher. This is after 2 years at a top ibank, so 3 years out of college, no MBA.
Old related thread: http://www.xoxohth.com/thread.php?thread_id=241681&mc=124&forum_id=2
(http://www.autoadmit.com/thread.php?thread_id=258262&forum_id=2#3808979) |
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Date: September 12th, 2005 11:50 PM Author: Diverse ocher temple immigrant
Don't want to say which firm, but it's one of oh the top 5 or so (if there are that many up there). Yeah, this is just analyst level. Don't know hours/wk, probably similar to ibanking with maybe weekends. I called him on a Sunday and he was at work, but he had Saturday off.
The interview process itself is pretty grueling but I'm sure grades and the ibank experience are a big part of the credentials also.
(http://www.autoadmit.com/thread.php?thread_id=258262&forum_id=2#3809123) |
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Date: September 13th, 2005 11:23 AM Author: Magenta wonderful school cafeteria
more money? yes
more prestige? no
(http://www.autoadmit.com/thread.php?thread_id=258262&forum_id=2#3811409) |
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Date: September 13th, 2005 5:15 PM Author: underhanded mood
my roomate, who interned at blackstone this summer, has just accepted a 2 year offer from them....
he has a 3.9 from H
(http://www.autoadmit.com/thread.php?thread_id=258262&forum_id=2#3813845) |
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Date: September 13th, 2005 7:17 PM Author: underhanded mood
nope
(http://www.autoadmit.com/thread.php?thread_id=258262&forum_id=2#3814591)
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Date: September 12th, 2005 11:58 PM Author: provocative people who are hurt
my friend has one of those jobs and he was middle of the class at USC.
its all about connections, fuck it all.
(http://www.autoadmit.com/thread.php?thread_id=258262&forum_id=2#3809220) |
Date: September 13th, 2005 12:10 AM Author: Smoky Medicated Gaping Elastic Band
i wish i was that prestigious :(
(http://www.autoadmit.com/thread.php?thread_id=258262&forum_id=2#3809337) |
Date: September 13th, 2005 12:48 AM Author: Rambunctious field hominid
What's the prospect of slipping into a gig like this after a few years in BIGLAW?
(http://www.autoadmit.com/thread.php?thread_id=258262&forum_id=2#3809791) |
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Date: September 13th, 2005 10:46 AM Author: Diverse ocher temple immigrant
Maybe some opportunities as a lawyer if you happen to work closely with a fund that is expanding. There are clearly some options at the high levels -- Larry Sonsini of Wilson Sonsini recently turned down a GC position at a Silicon Valley PE fund.
Chances of going in on the business side are probably pretty low since they generally want to see some ibanking or other financial industry experience first. But you could probably go into ibank from biglaw fairly easily (might need to enter at a lower level and take a pay cut for a bit) and get on the PE track from there.
(http://www.autoadmit.com/thread.php?thread_id=258262&forum_id=2#3811297) |
Date: September 13th, 2005 10:43 AM Author: vibrant jade chad legal warrant
you can also be fired from these jobs for basically no reason at all.
(http://www.autoadmit.com/thread.php?thread_id=258262&forum_id=2#3811289)
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Date: September 13th, 2005 4:47 PM Author: Diverse ocher temple immigrant
Bump for the people sitting in class so they can make $125k.
(http://www.autoadmit.com/thread.php?thread_id=258262&forum_id=2#3813604) |
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Date: September 13th, 2005 4:57 PM Author: Diverse ocher temple immigrant
The difference is that you can actually plan and work towards a career in law / finance in a way that lottery hopefuls can't.
Many students at top law schools had high GPAs and other credentials that would have let them go into ibanking and from there land a gig in private equity or a hedge fund.
(http://www.autoadmit.com/thread.php?thread_id=258262&forum_id=2#3813709) |
Date: September 13th, 2005 5:04 PM Author: bearded office
What is the point of this thread? Yes there are jobs out there with a better payoff/hours ratio. A lot of them are in private equity. Of course if this was 1999 you would be writing about how your friend was doing great at this dot-com startup, who gives a flying fuck?
(http://www.autoadmit.com/thread.php?thread_id=258262&forum_id=2#3813764) |
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Date: September 13th, 2005 5:13 PM Author: Diverse ocher temple immigrant
Couple of possibilities:
- Some people read this board for career advice before deciding on law school, and want to know how biglaw compares with other career paths.
- People who are in biglaw or planning on going into it might want to reflect on their choices and maybe opt for something else. I had a callback lunch at a top NY firm and the interviewers talked about how some of the associates were ditching for business school.
- Personally I start these threads partly to whine and partly in hopes that somebody will offer a brilliant thought that I can use to rationalize why I'm still in law school.
(http://www.autoadmit.com/thread.php?thread_id=258262&forum_id=2#3813834) |
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Date: September 13th, 2005 5:25 PM Author: bearded office
Go blow a banker or something, this is ridiculous.
Why don't you start a few threads about how much money NBA players make or something?
The reason private equity/hedge fund jobs pay a shitload is that 1) there are very few of them out there, relative to legal jobs 2) only a select few applicants are even remotely qualified for them 3) 2000-present has been a huge bubble-like mania in these industries that will surely subside within our lifetime.
So if you are going to be a whiny bitch about law school, best of luck. If you want to intelligently think about the potential a law degree offers long-term, on a risk-adjusted basis maybe you won't lament your situation.
(http://www.autoadmit.com/thread.php?thread_id=258262&forum_id=2#3813934) |
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Date: September 13th, 2005 5:33 PM Author: Diverse ocher temple immigrant
Playing in the NBA isn't really a viable career alternative for most law/college students. But many people who could go into law could also go into finance. There's threads on this board that compare law with medicine too.
I think you made some other substantive points but seems like you're having a bad day or something.
(http://www.autoadmit.com/thread.php?thread_id=258262&forum_id=2#3813986) |
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Date: December 21st, 2005 11:59 AM Author: Magenta wonderful school cafeteria
precisely.
if you can get into a top 5 law school, then you definitely have the creds to land an analyst position at a top PE shop.
(http://www.autoadmit.com/thread.php?thread_id=258262&forum_id=2#4629135) |
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Date: September 13th, 2005 6:05 PM Author: Racy blue hall
(1) Some law students aren't interested in working for a PE outfit. Indeed, the vast majority go into law school planning on litigation, rather than transactional work. It's difficult to tell someone whose interests lie either (1) on the policy side of things or (2) in litigation rather than transaction work that it'd be a better idea to go into IBanking.
(2) The average pay differences, I'd bet, are not that significant. A starting attorney in NYC having graduated from a T6 can expect close to 150k in compensation for her first year. By the third year, with a full bonus, she should be making more than 200k. The real cost, then, is simply in having to pay for law school and in not earning over those three years. I suspect that many who go into IBanking straight out of college return for an MBA or other graduate degree, substantially reducing this difference.
For those who think they might enjoy the Ibanking route, it certainly makes sense to take a crack at it immediately out of college as opposed to waiting until having made an investment in further education. For those who aren't that interested, there's little lost in obtaining a law degree from a reputable institution.
(http://www.autoadmit.com/thread.php?thread_id=258262&forum_id=2#3814187) |
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Date: July 6th, 2007 3:49 AM Author: appetizing pozpig
no way are ibanking hours worse than biglaw---that's crazy talk
job security is lower
(http://www.autoadmit.com/thread.php?thread_id=258262&forum_id=2#8343608) |
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Date: September 13th, 2005 5:37 PM Author: Razzle-dazzle piazza jewess
the vast majority of businesses fail, because the vast majority of people that start them are not particularly smart, well educated or knowledgable about the specific area they are starting their business in. If you are smart you odds greatly increase.
yes, it is a bigger gamble than working for someone else, but this guy seems to consider money to be priority 1 and sucessful businesses make the most.
Also, smart is smart. Fuck skill sets. Neither entrepreneurship or finance take any skill that can't be learned by the average intelligent human.
(http://www.autoadmit.com/thread.php?thread_id=258262&forum_id=2#3814017) |
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Date: December 20th, 2005 8:28 PM Author: Sickened bateful cumskin
"There are people with ph.d.s whose businesses fail, and high school dropouts whose businesses are wildly successful."
Which says nothing about the trends and tendencies refered to in the previous post.
(http://www.autoadmit.com/thread.php?thread_id=258262&forum_id=2#4623880) |
Date: December 20th, 2005 8:32 PM Author: Aquamarine Stirring Den Preventive Strike
analysts make like 80, and if he has 3 years at a bank, he's an associate. and associates make 125 base, 80 bonus, roughly.
that's my understanding.
(http://www.autoadmit.com/thread.php?thread_id=258262&forum_id=2#4623924) |
Date: February 6th, 2006 8:21 PM Author: Big Canary Nibblets Subject: Further evidence of the buyside's sweetness
So I've been in Korea for about a week and a half now and what can I say, LIFE IS GOOD....
I've got a spanking brand new 2000 sq. foot 3 bedroom apt. with a 200 sq. foot terrace running the entire length of my apartment with a view overlooking Korea's main river and nightline......Why do I need 3 bedrooms? Good question,.... the main bedroom is for my queen size bed,...where CHUNG is going to fuck every hot chick in Korea over the next 2 years (5 down, 1,000,000,000 left to go).... the second bedroom is for my harem of chickies, and the third bedroom is for all of you fuckers when you come out to visit my ass in Korea. I go out to Korea's finest clubs, bars and lounges pretty much every other night on the weekdays and everyday on the weekends to (I think in about 2 months, after I learn a little bit of the buyside business I'll probably go out every night on the weekdays). I know I was a stud in NYC but I pretty much get about, on average, 5-8 phone numbers a night and at least 3 hot chicks that say that they want to go home with me every night I go out. I love the buyside,.... I have bankers calling me everyday with opportunties and they pretty much cater to my every whim - you know (golfing events, lavish dinners, a night out clubbing). The guys I work with are also all chilll - I live in the same apt building as my VP and he drives me around in his Porsche (1 of 3 in all of Korea) to work and when we go out. What can I say,.... live is good,... CHUNG is KING of his domain here in Seoul.....
So,.... all of you fuckers better keep in touch and start making plans to come out and visit my ass ASAP, I'll show you guys an unbelievable time....My contact info is below.... Oh, by the way,... someone's gotta start fedexing me boxes of domes,...I brought out about 40 but I think I'll run out of them by Saturday.....
Laters,
CHUNG
Peter Chung
The Carlyle Group
Suite 1009, CCMM Bldg.
12, Yoido-dong, Youngdeungpo-ku
Seoul 150-010, Korea
Tel: (822) 2004-8412
Fax: (822) 2004-8440
email: pchung@thecarlylegroup.co.kr
http://www.snopes.com/risque/tattled/chung.htm
(http://www.autoadmit.com/thread.php?thread_id=258262&forum_id=2#5013593) |
Date: July 6th, 2007 1:04 AM Author: Diverse ocher temple immigrant
After bonuses came in, it actually turned out to be around $275k.
(http://www.autoadmit.com/thread.php?thread_id=258262&forum_id=2#8342840) |
Date: July 6th, 2007 1:10 AM Author: Carmine french chef
Lebron James makes 90 million a year and he never went to college.
I figure if I can work on my bbal skills through playing street ball with some black kids in the South Bronx I can leave i-banking after two years and join the NBA.
(http://www.autoadmit.com/thread.php?thread_id=258262&forum_id=2#8342882) |
Date: July 6th, 2007 2:17 AM Author: bespoke new version parlour
whenever i read these ibanking >>>>> law threads i'm amused.
i had/have 0% chance at getting an ibanking job, even a TTT one. the world of ibanking is just so far removed from me that i can't think of it as a serious alternative to law for even a second.
(http://www.autoadmit.com/thread.php?thread_id=258262&forum_id=2#8343271) |
Date: April 27th, 2008 8:42 PM Author: Slap-happy space faggot firefighter
bump
(http://www.autoadmit.com/thread.php?thread_id=258262&forum_id=2#9695295) |
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