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Huge Starting Salaries; Pocket Change For Private Equity

Thursday, 21 Dec 2006 | 1:57 PM ET

Private equity shops and Wall Street firms are locked in a furious bidding war -- for top talent! Since money talks take one guess where nearly everyone is flocking right now. Private equity headhunter Brian Korb revealed the extraordinary salaries being offered.

Bolting for Private Equity
Private equity shops and Wall St. firms are locked in a bidding war for top talent, and private equity seems to be coming out on top with its soaring salaries. Brian Korb, Glocap Search Private Equity Headhunter, shares his insight with CNBC's Bill Griffeth.

Korb said private equity is able to attract the cream of the crop – On average a new recruit who goes to a private equity firm receives $450,000 in total compensation. That compares with $300,000 in total compensation for Wall Street.

(Neither salary is too shabby)

And then there’s the bonus – at private equity you can expect $250,000 your first year, while Wall Street pays a measly $40,000 - $60,000.

(Barely enough for that new Porsche you’ve had your eye on)

Will salaries continue or level off? Korb says as long as private equity keeps doing the number of deals they’re doing now, “There’s no end in site!”

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Kenny Polcari