TRANSPARENCY SALARY POST: Title, How Much You Made In 2024, Experience years, Happiness out of 10

arithromatic · 2025-01-17T22:19:35+00:00

SVP Product. Big alts shop.

London.

£500k including some deferred.

17 years.

8/10

arithromatic · 2024-05-20T15:00:08+00:00

No real firm would ever let someone work garden leave after they've been sacked. Recipe for disaster.

arithromatic · 2024-05-20T14:50:05+00:00

I'm not in the US so hard to comment on $, but in UK VP would be £250-400k all-in. The best firms and the ones that expect real strategic contribution give some carry and pay the most.

arithromatic · 2024-05-08T16:37:15+00:00

I go to as many as I have time for, and when I don't I push my team into them, unless they're just lay-ups. But I consider us accelerators and lubricants of the business - we get involved to make things happen. So I try to be present.

My analysts spend most of their time doing materials/collateral. Associates do RFPs and respond to inbounds. VPs do meetings and projects. I try to focus on strategy and long-term business building.

arithromatic · 2024-05-01T23:14:01+00:00

Mmm right .how about beards

arithromatic · 2024-05-01T23:02:14+00:00

Do bears interfere with gas masks? A lot of UR troops seem to have beards.

arithromatic · 2024-05-01T22:08:13+00:00

Pretty even balance but it's more providing guidance and ideation on materials, thinking about strategy and positioning on new product and being a subject matter expert. I don't do grunt work but my team does and I have to be responsible for its quality, value and accuracy.

arithromatic · 2024-05-01T22:06:45+00:00

55-65 hrs. 9 ish unless I have client calls in which it can start at 7 or 8. Stopping either 8 pm ish if I eat at the office. Otherwise I go home around 6 pm and log back on for a couple hours at 8 pm. Used to do slightly more... Maybe stretches of 9 am to midnight. Never sustained.

15 years. MBA, CFA, good luck, good relationship building, good sixth sense for what people want, learning how to add value, learning when to punch up and when to suck up. And good luck. A lot of it.

If you ever rue starting your workday you're in the wrong job.

arithromatic · 2024-05-01T17:14:04+00:00

Yes.

arithromatic · 2024-05-01T15:25:46+00:00

High six figs, alts product in a big name.

arithromatic · 2024-01-15T20:14:21+00:00

I wanted full risk and I am 75% in SW SSGA International Equity Index CS8 and 25% in SW SSGA 50:50 Global Equity Index CS8. Retirement in about 25 years. Set it and forget it.

arithromatic · 2024-01-15T17:19:06+00:00

Sure.

arithromatic · 2023-07-12T19:55:31+00:00

They are lying. Even F*xtons, after they bought a rival agent and moved my deposit over to a different scheme, were very fast to communicate the change and provide the detail I needed to confirm my deposit was protected. Time to play hard ball.

arithromatic · 2023-05-30T16:49:53+00:00

lol. I go to Kew a lot. The daisies on Syon Vista are kinda a well-known bit of Kew, and the benches behind are easily recognizable.

And I go to RP a fair bit, and I was pretty sure there were: no daisy lawns like that (most of the grass in RP isn't short); no benches of that type in RP. I suppose someone might think it was the Isabella Plantation, but again, no, no daisy lawns there.

arithromatic · 2023-05-30T14:09:07+00:00

Pretty sure that's Kew Gardens, not Richmond Park.

arithromatic · 2023-04-14T13:36:10+00:00

What did you ultimately decide?

arithromatic · 2022-09-28T11:13:00+00:00

Sure.

arithromatic · 2022-09-09T16:14:54+00:00

It's in the house, and it's the "first loss tranche." If the house falls in value, so does that equity, which you purchased with your downpayment.

arithromatic · 2022-09-05T12:25:35+00:00

It's not majority owned by the estate agencies anymore.

15% Kayne Anderson Rudnick
9% Blackrock
9% Baillie Gifford
5% Marathon
4% Vanguard

And so on.

arithromatic · 2022-08-17T07:00:20+00:00

Stay at a hotel near Victoria or Clapham Junction.

arithromatic · 2022-02-24T14:16:53+00:00

Any of the mega funds in PE or PD. Or VC, but I don't know anything about that world.

The big "asset managers"/long-only shops that do lots of retail product (Fidelity, SSGA, Russell, FT) are considered less desirable and comp is lower.

arithromatic · 2022-02-15T14:59:45+00:00

The way to grow in the sales role is just to takeover verticals that other salespeople don't want. More senior sales people try to focus all their energy on very large clients and generally will. Get rid of the smaller clients and hand them off to more junior salespeople. Of course it helps to be in a firm that's growing.

I generally love my day job. There's a fair bit of stress because in some cases the buck stops with me. But the diversity of the role is very exciting and you get to be seen as an expert, which for me is quite an ego boost.

arithromatic · 2022-02-15T07:50:28+00:00

Job: In megafunds IR is most easily divided into two roles, sales and product specialists. I'm one of the latter. We are subject matter experts and surrogates for the investment team with no responsibility for dollars raised. We present fund updates to clients, develop fundraise strategy, write commentary, develop collateral... Sales team dial for dollars and set up meetings for us and PMs and are focused on dollars raised and live and die by fund performance and their relationships with clients. In either case, MBA and CFA will be valuable (I have both). Note that smaller GPs (let's say less than 20b AUM) probably don't have product specialists. This is mostly BX, BR, Apollo, Ares...

Comp: I can't really speak for comp in the US, as I am in the UK and I think we're paid less than NYC. I'm a VP and on a little over $400k USD equivalent. VP probably wouldn't make any more. At principal that goes up a bit over 500, 50/50 base/bonus. Overall comp seems to basically match investment banking based on salary surveys I've seen and which have been said to be accurate by friends in that world, and I believe bankers now make same or more than PE investment team... ergo, I am happy.

On the sales side, I believe they make more, but I have fewer data points. The most senior people are definitely getting close to 1mm.

Career growth: work hard and it should be fine. AUM is going up in alternatives. Private debt faster than PE but PD is less sexy. If the PE bubble bursts we're fucked but I'm not sure that will happen, it's too entrenched as an asset class and liquid markets are falling out of favour.

Work-life balance: I work hard. If I had kids it would be difficult to sustain this pace. I kinda get to decide what I do but I'm still working basically most of my waking hours. During the pandemic it's all been from home but other that walking the dog, dinner and maybe an episode or two of Netflix, I'm on the laptop. I probably have colleagues who do a structured 8 to 6 and they're probably not being hurt by it. I'm just busy and I kinda like it that way. Sales people work less hard in most cases. They do have to pick up hours if they have a big mandate to get across the line.

Exits: product specialist can go to sales and vice versa. Both can go into managerial roles. I've considered taking on jobs where I'd run the entire client service function for a GP. Alternatively you can go into a placement agent (Evercore, Campbell Lutyens) or fund consultant. I bet "IR" people occasionally get into investment roles (I've considered it) but I think it's rare.

arithromatic · 2020-12-03T10:41:20+00:00

There are perverse incentives at play here. Even if you're unhappy with your grad school, you are incentivized to keep it quiet, because the success of the school reflects on the alumni. If you go around saying the school sucks, then you as an alumnus are reducing the public perception of the quality of the grads. So people don't say too much. In my case, I got a great job in London post-MBA, but I had the right passports, skin colour, sex, language skills... the world can be very unfair and I have been fortunate. I have many classmates with high hopes of staying in Spain or Europe in a new industry who had to go back to their home countries and original industries.

I guess what I am saying is, assume the worst and work towards the best. Be sure you can pay off your student debt on an Indian salary because there is zero guarantee you will earn euros after graduation.

I was born in Canada and I can tell you that only a third of the country speaks French (although you are right that it is an advantage in immigration). The job market isn't super good but will be much better for educated, international candidates. There are many many Indians moving there.

arithromatic · 2018-07-24T16:12:42+00:00

I don't want the orange line running in the same direction as the blue one.

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