Private Credit has been a fast growing asset class and my bread and butter. We've looked at a TON of direct lending comp data - at big shops like Antares, Apollo, Ares, GS, and Golub. On Buyside Hub, we're absolutely loaded with Private Credit comp data - here's our findings:

Your compensation is going to vary greatly depending on sweaty of a shop you are. Sure sweaty doesnt mean as sweaty as investment banking, but some direct lenders genuinely pull 45 hour works while others are tightly aligned with sponsor schedules and stuck burning the midnight oil. $150k base salaries are the standard across several shops but top shops might be $175-$185k, creeping towards $200k (where a lot of senior associate base is). 100% bonuses are the expectation across some of the stronger institutions - although a 1.25x or 1.5x is not improbable at some places. Now you're seeing why Private Credit can be so attractive for someone with only 3 years of work experience.

Being a senior in private credit is one of the juicer jobs IMO - within 10 years of working you're very quickly making cash comp of $500k-$700k. Yes, you don't need to be an MD to crack $700k in cash comp. Don't listen to anyone on X - that is a lot of money for your early 30s. Generally what I've found in credit is that a lot of guys make $400k-$700k in cash comp for several years and are able to live very comfortable lives. Think about - you're not taking equity risk, or subject to severe quarterly price volatility, but you're getting paid handsomely - not bad gigs huh?

Whether you're at a $300mm fund or $6B fund - carried interest matters in private credit too - and we have carry data cross fund sizes I haven't shared the best parts - access the full compensation analytics on @Buyside_Hub - contribute your comp data to gain access