From the category archives:

Private Equity Jobs

Private Equity and Carried Interest

April 21, 2014

Carried interest continues to be a topic of discussion among certain elected officials. The Obama Administration’s 2015 budget recommendations included a proposal to tax gains from carried interest at the personal income tax rate as opposed to the current capital gains tax rate. If Congress went along with the Obama Administration’s tax increase proposal, the tax […]

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Hours per Week and Annual Pay – Who is on Top?

March 24, 2014

Individuals in the private equity industry work a lot. They also make a lot for those long hours. If one divided working individuals into 10 hour groups – meaning some percentage of individuals work 40 to 49 hours per week and some individuals work say 80 to 89 hours per week – which hour group […]

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When will Venture Capital Firms Move Away from California?

March 10, 2014

Since at least the 1980s, a large, disproportionate share of venture capital investments have been made in firms located in California. When will this trend come to an end? First, here is some background. The following animated GIF shows venture capital investments by year by state since 1995 (a link to the interactive Tableau Public […]

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What Will CalPERS’ Reallocation Plan Mean for Private Equity?

January 27, 2014

In mid-December, Real Desrochers, senior investment officer for the California Public Employees’ Retirement System (CalPERS) fund, indicated that CalPERS would reduce the number of private equity investments from 389 to 120. The reason for the strategy announcement: the CalPERS board felt it is currently over-diversified, making it difficult for CalPERs to generate above-median returns. What does […]

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Is Goldman Sachs or Google Nobler?

December 16, 2013

If you were asked which company is nobler, Goldman Sachs or Google, which company would you chose? Robert Shiller, the Nobel-Prize winning economist best known for his work on real estate prices (i.e. the Case-Shiller index) recently suggested that Goldman Sachs would be a better employer for young college graduates with a “moral purpose” than […]

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How Long Can Pre-Money Valuations Stay This High?

December 2, 2013

Pre-money valuations are currently sitting at a decade long high according to Pitchbook’s VC Valuations and Trends Report. The question here is: how long can these types of valuations hold up? Are the valuations in line with trend expectations or are they lofty? The following figure has Pitchbook’s history of VC valuations by stage (average valuation). The […]

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How Is Private Equity Employment Doing This Year?

October 21, 2013

How would you answer if you were asked: of the big three financial employment categories of hedge funds, private equity, and investment banking, which of the three is now above where it was in 2008? Below are the results. The results show that private equity employment is the only one of the three that is […]

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Is NY Losing Its Hold on the Financial Industry?

October 14, 2013

The financial industry has long been an establishment in New York City, Los Angeles, Chicago, Philadelphia, and Silicon Valley. The question here is: are financial firms (starting to) moving away from the once-thought-of “big financial centers” to more competitive and cost effective places to do business? As a start, here’s what financial industry employment looks […]

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Which US States Have Seen Financial Industry Pay Increase the Fastest?

October 7, 2013

More or less, the financial industry is about money. As a general rule, the best, the brightest, and the most prepared financial professionals get more of it than others. The question here is: which U.S. states have seen financial industry pay grow the fastest over the past 23 years? As a start, here’s what average […]

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How is Financial Industry Employment Doing Compared to Others?

September 23, 2013

The employment recession was deep and the recovery generally weak. How accurate is this statement when looking at financial industry employment compared to other industries? Here’s what the data looks like for total U.S. employment growth from 1990 to 2013 and from 2010 to 2013 – none of the figures are likely surprising. The industry […]

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