Obviously a big firm and group dependent, but hopefully someone has a few insights they can share. I've heard it's a stuffy environment (do you still have to wear suit and tie everyday? Zero remote work?), and perks suck (no 401k match or fitness stipend) but this is all second hand so might be outdated/wrong.
Comp: what should senior associates expect to make and when does carry kick in/how much carry do you get?
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Dinners: only $30
401k: no match
Co-invest is a nice benefit but almost all firms have that
While co-invest isn't necessarily uncommon, you might be surprised by the number of firms that don't offer it
My firm has a non-levered funds based co-invest (you invest alongside LPs with capital calls), that requires you to file K-1s. Effectively none of the juniors do it because its a huge pain in the ass.
Summary is that co-invest the way blackstone does it (levered and year by year) is actually pretty attractive of a perk.
Anything about uber/lyft coverage? Would love to hear more perks
I think it's group dependent. Anyone else know?
This might have been true in the past but is currently outdated.
Dinner stipend is $35
401(K) is half-match that vests over 5 years
I don’t think they match 401k for investment teams, only back office
Following
FT analyst in a group that I spent last summer with.
Lunch: $15 credit but the delivery fee is waved if you order from one of three spots that rotates daily – not too bad imo if you choose that option.
Dinner: $35 credit. Pretty good imo especially if you throw in with other analysts / associates
401(K): Seems to be a 50% match that vests evenly over a five year period – this is really shitty imo.
Coinvest: Not accessible to analysts but heard that capital calls are delayed and that the firm provides MSD leverage – certainly not an expert on this but it sounded pretty good.
Culture: Seems to be pretty group dependent. Some groups that tend to promote internally have stronger cultures than groups that do the two and out routine.
Fitness stipend: none – not great imo
Ride Service: Ride home is comped after 9pm – seems pretty standard from what I’ve heard
When can you order dinner / how late do you have to stay? Is it through seamless only? Anything on weekends?
How strict is the car policy? My fund is honor system under $40 which is pretty nice
Wtf can you buy for $15 after tax and tip? Do you eat McDonald’s everyday?
Whats the typical 401k match % for most banks and other pe firms? Would assume 50% seems good but if ur saying thats an issue do all banks match higher %?
My bank: Dollar for dollar up to 6% of total comp (maxed out at around ~$292k or so - others can check me if I’m wrong on actual value). Almost $18k for free vested over 4 years..
Definitely a stuffy culture. No suit and tie every day, but they otherwise run a tight ship. Investment teams are 5 days a week in office. If you ever want to lateral groups/offices down the line, say your family needs to be in a different city, they make it very difficult.
If you're 2 and out, take the name and deal with it. If you're looking for a long term place and might appreciate some flexibility, make sure you're okay with their bare bones culture.
Is this at all varied across teams (BCP v. Tac Ops v. BXG v. RE v. BAAM) or have you found it pretty consistently stuffy / formal?
Bump to this, how is culture in the corporate PE teams? Any sector teams that are especially notable?
Black & white Linkedin headshot for you is the best perk there
I've always wondered why certain firms have similar vibes when it comes to their headshots. Citi is the same with the deep blue background and a wide smile.
Do firms force their employees to make it similar? Or do they have a greatly subsidized company that everyone just happens to use
Firms don’t make you do anything. Most firms provide headshots for their own intranet, but people opt to use the same picture for LinkedIn. It makes sense because no one is paying their own money to get a personal headshot these days. Generally most PE firms have publicly available bios and headshots of their employees.
Anyone know how strict they are with cars and meals?
Don’t get fired from Blackstone for trying to save $20
Im on the public side and im surprised how few perks BX has. I thought they'd be way better vs HF
What do you get?
By importance: 401k match up to $6k (3yr vest), breakfast/lunch ordered daily, monthly fitness subsidy ~100. No wfh stipend
Rarely used but available: dinner, cars home
Bonus is discretionary. Anyone have insights on comp/carry? That matters more than all these variables (though they are nice)
When does carry factor in?
Can anyone comment on remote work? Is it really 5 days in the office?
Yes for all investment professional employees
That's fucking ass bro. Do people usually leave early and WFH for a while or leave early on Friday or anything?
Did BX bump base for analysts? Specifically in SP, TacOpps, and RE?
All BX analysts get paid $110k base
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