While Blackstone CEO Steve Schwarzman is busy in Saudi Arabia discussing how to help women thrive at work, Blackstone's UK operation has released its accounts for the year ending March 2021.
They confirm the well-known truth that working in private equity can be very lucrative, especially if you happen to be a partner.
The Blackstone Group International Partners LLP (Blackstone's UK operation) had 55 partners in the year ending March 2021, down from 57 in 2020. In terms of salaries and bonuses, the average partner earned £1.2m ($1.7m), up from £789k the previous year. However, they also received a profit share in the form of carried interest, averaging £634k.
The average Blackstone partner in London therefore earned over £1.8m ($2.5m) last year.
Blackstone's 339 other UK staff weren't paid as much. Their combined salaries and bonuses averaged £371k, up from £332k a year earlier.
If you aspire to work for Schwarzman, the good news is that Blackstone's London office appears to be hiring. 55 people joined in the year to March, of whom 38 were in sales and services and 17 were in investment roles.
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