ICONIQ - 2022 Edition of Culture / Progression / Pay
Anyone have any insights into ICONIQ (hours, culture, comp, etc.)?
Have heard mixed reviews so far - specifically that new joiners today have less runway (more of a pyramid today while the folks who joined 5-10 years ago had faster paths to MD / Partner and are sitting pretty).
Noticed some recent senior level turnover - I.e., PE/VC funds investing and coinvestments was led by an ex-Stanford investment office person for ~6 yrs before jumping last Aug - now the PE/VC funds investing and co investments are led by two different individuals.
I’ve been hearing that comp is decent (i.e., I did see on a H1B salary database that base for a PE senior associate is $175K, but who knows what cash bonus / carry looks like).
No datapoints on culture yet
Regarding the ex-Stanford investment office person, they were doing Co-Investments and Fund of Funds investing for the Family Office side of the business. They were not a part of the ICONIQ Growth team. ICONIQ Growth is a separate team at the firm. Are you trying to get more insight on Family Office or Growth?
Thanks - I'm looking to learn more about the Family Office side.
I went fairly deep into the interview process on the Family Office side, but bowed out due to concerns around the culture. As mentioned, there's been a ton of turnover and the people in charge came across as very stiff/hardos. Can't speak to comp but likely some good progression if you stick around given how aggressively they're trying to grow the team.
Turnover on FO side was much more extreme than just that individual. In under three years starting 2019 the team lost:
Effectively a full turnover of the team (believe only two individuals remaining from the start of 2019; even both EAs are no longer there). Glassdoor reviews have been sanitized and multiple negative reviews removed.
What reviews were taken down from Glassdoor? Any idea what people were saying?
Head of Risk - literally, who cares
Associates/Analyst turnover is expected, particular in COVID era (ie since 2019). What do you think turnover was elsewhere?
So all that’s left is 2 VPs leaving and Head of Private Credit? Does ICONIQ even have a private credit business?
When assessing turnover at an organization it’s helpful to keep the broader market on context and personally I put a ton of weight into where the leavers went. If they left for seemingly downgrade jobs and how their career trajectory has looked; that’s much more telling than an upgrade or run of the mill natural attrition/musical chairs.
Have a close friend who worked on their growth team. Spoke highly of his overall experience as it related to the exposure he got to the sourcing side and the execution side. He did say it was a very political place though and that it was a factor in his decision to exit, though most of his decision was driven by wanting to go to a start-up and leave investing altogether.
Does anyone have any recent data points on comp and more specifics on there being less runway for associates who join today?
Bump
Have multiple friends who work there on the investing side (growth / special sits) and asso1 pay was $300-350k all in
Thank you!
Any insight on the 2nd round interview prompt?
Applying for a role within their Family Office Advisory.
Had a first round zoom – 2nd is a prompt given 15mins prior + discussion with a VP & Senior Associate.
TYIA.
Thank you！Would you mind providing more details on the interview questions in first round and second rounds please? I could swap some info on Insight partners as well if you are possibly interested. Thank you
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