Day 1 in London
I’ll be quick with this one as I’m in-between meetings (have a feeling I will be getting very little sleep with the London/US time difference and my day full of meetings and evenings full of calls). A couple of interesting takeaways from London:
- London IB gets paid less than the US (unless you work at Centerview lol) so we’re definitely going to be offering up some larger discounts for the folks out here
- Getting into PE arguably is slightly easier as an Associate here compared to being an Analyst, only in the US is it really a rushed process — over here they focus a lot on culture and fit which means sometimes really just taking your time to find the right firm
- Analysts aren’t being cut in their RIF’s, it’s more seniors and non-performing mid-level individuals — only in the US are they really giving 0 bonuses and expecting people to leave on their own volition so they don’t have to pay severance (cough cough GS)
- I think the takeaway is that the US is more ruthless than the EU/UK
- Is KKR Ventures a thing? Heard someone bring it up today
- The tech itch exists here too — people are leaving after a couple of years of finance experience to pursue start-up/operations experience hoping that it will get them back into VC in the future
- London finance is a SMALL scene, but still notoriously tough to break into
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