Pay for Perella Weinberg's partners vs. pay for its employees
Boutique M&A firm Perella Weinberg had a good year in the UK last year. Perella Weinberg UK Partners LLP just released its accounts for the 12 months ending December 2018 and they reveal a 26% increase in revenues to £83m and a 124% increase in profits to £33m.
Perella Weinberg UK Partners LLP (to be referred to from now on simply as Perella Weinberg) is a partnership, so those £33m of profits are all available to be distributed among the 11 'members', or partners at the firm. In fact, only £23m was disbursed last year and the highest paid member (likely the mysterious multi-person entity called 'Perella Weinberg Partners Group') got £8m of that, so the implication is that the remaining 10 members had to make to do with around £1.4m each ($1.72m). Presumably, however, they were also part of Perella Weinberg Partners Group and could have had a top-up from there. In 2017, it seems partners shared less than £2m between them.
Last year's pay was far more straightforward for Perella Weinberg's 87 more ordinary London employees. In 2018, they shared a pot of wage and salaries (and presumably bonuses) and pension accruals of £28m, which amounted to an average of £323k each. This was clearly a large amount, but it was almost exactly the same as the year before - despite that very big increase in profits.
It might be concluded then, that if your'e a partner at Perella in London you will do rather well out of a good year but that if you're an employee you might not. As we noted in August, various associates directors and executive directors left Perella Weinberg in London this year. One complained to us of low pay.
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