The majority of those in private equity and VC reported working 50-70 hours or more per week, about 10 hours more per week than those in the hedge fund industry. That’s the latest from the 2008 Private Equity Jobs Digest Compensation Survey.
Perhaps the most interesting finding in private equity work environments is a direct correlation between hours worked and total compensation earned. Those putting in 70 hours per week earn over $375,000 and that number climbs over $400,000 for those putting in 80 hours per week. More time in the office does pay off, up to the level of 90 hours per week.
We believe this high level of hours is a result of a firm’s work culture. Among respondents working more than 70 hours per week, a full third reported that their fund was up 25 percent or more. Whereas for those working less, only 13 percent reported that level of fund performance.
When it comes to vacation earned, the numbers are pretty generous: 75% earned 3 weeks or more, although on average they took just over 2.5 weeks off.
You can read the executive summary of the 2008 Private Equity Jobs Digest Compensation Survey at JobSearchDigest.com.
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