{ "media_type": "text", "post_content": "Left consulting for UMM investment role last year because it seemed like the next “good job” to get, and that comp would be better LT. But after a few months in PE, I don’t really understand why people leave consulting for this. Pay is arguably the same for next ~10 years(after 10 PE does go up), but the lifestyle in PE is so much worse in terms of hours/time-off and perks/expensing. Anyone else having similar thoughts?", "post_id": "61e4fc4a3872c7002e1e5e29", "reply_count": 6, "vote_count": 11, "bowl_id": "5b7c3919448e9300186d3deb", "bowl_name": "Private Equity and the Buy Side", "feed_type": "bowl" }

Left consulting for UMM investment role last year because it seemed like the next “good job” to get, and that comp would be better LT. But after a few months in PE, I don’t really understand why people leave consulting for this. Pay is arguably the same for next ~10 years(after 10 PE does go up), but the lifestyle in PE is so much worse in terms of hours/time-off and perks/expensing. Anyone else having similar thoughts?

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How is pay the same? It should be way wider at every step of the way. My personal comparison: Consulting (MBB): ~200k all in PE (UMM): ~350k all in At VP, you would be a manager equivalent: Consulting: ~350 PE: 500-600 with carry And it gets wider and wider - not saying making partner is feasible but the partners at my fund pull in 10M+ a year annualized across fund lifetime

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$250 is underpaying for a UMM (NMC…? I’ve heard they pay underpay as a reputable consultant friendly fund) but also, your pay should rise as you go from A1 to A2 in PE. Particularly the SA bump. You’re also making way more than $400 as a VP if you factor in carry - and you must factor in carry. Give it a very conservative estimate (2x over 5 years?) to account for it. Point being - you’re being underpaid right now so i get why you feel this way but there’s no comparison between market PE comp vs consulting.

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I don't think a lot of PE funds have caught up with the IB/MBB pay increases at the lower levels which is probably what's driving this view in my mind that the comp trajectory is the same for ~10 years.

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