What sacrifices do you need to make to become a PE partner? Can you have hobbies? Can you make your kids’ soccer games?

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McK - yes, def better WLB. Just take a step back and look at the nature of the job. As a partner at a consulting firm, you’re essentially a glorified servant who’s on the hook to constantly deliver value to clients and looming biz dev and case / account delivery targets. Partner at PE firm is all about deal making and capital raising. You’re no longer an outside stakeholder but an internal stakeholder with a vested interest in the success of the investment / portco as a board member etc.

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WLB slightly better in PE vs MBB. So making it to soccer games is likely easier, unless you are in the middle of a deal, close etc.

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I think the answer is maybe. Any of these jobs, work is going to come first if something urgent comes up. Partners at the PE firm I worked at never stopped thinking about work, but they were able to carve out dinners with the family or the things that were most important to them, except during deal or fundraising crunch time

“Carve our dinners with the family”, wow that is brutal

My experience is different. The partners at my PE fund (though it was a MF) worked way more and harder than the MBB partners. Without question. Ironically - way more travel too

It’s going to depend on the firm. If you’re at a megafund or a large middle market fund, your life is going to be atrocious even as a partner. I’ve been on deals where partners are sending emails out at 2AM on Saturdays. Those guys just have too much capital to deploy, and it’s not like megafunds’ investment teams are meaningfully larger. And with these firms, you’re still an employee as a regular partner - shit will continue to flow downhill into your lap. That being said, those guys are kings of the world and rake in consistent 8 digit paydays.

Lower middle market firms can have very good work-life balance even for associates. Usually these funds are outside of NYC, and, depending on how skilled their principals / VPs are, partners here can end up living pretty chill lives. Yes, they still probably need to travel regularly during the week. Yes, unexpected things can always happen in PE / M&A, and a partner may need to work late. However, for the most part, they should have a pretty good handle on their schedule.

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