apollo

There is always Jane Street if you are searching for a small, high-paying, rapidly expanding workplace; but, if you are not a developer or quant, you might want to try Apollo Global, a reformed employer that has been hiring a lot of people.

Speaking on the same call as CEO Marc Rowan, Kelly emphasized the company’s history of insane growth since 2008. “We have grown 14x. That is faster than Apple’s revenue. That is faster than Microsoft’s revenue. That is faster than semiconductors, truly extraordinary,” said Kelly, the CFO of Apollo, who said the company hired 350 people last year, an increase of nearly 9% by our reckoning.

“Half the net new hires [were] located in North America and Europe and the other half in Mumbai,” Kelly said. In 2024, Apollo intends to hire in a “very targeted” manner, Kelly added.While Mumbai will always be a priority, the fund is also interested in expanding its coverage of high net worth individuals, scaling origination, and developing new products.

Apollo has expanded, but it has also changed. Juniors at the company complained three years ago about dealmakers who “behaved like jerks,” putting in 20 hours a day and forcing them to grind till three in the morning. In 2021, the business was reportedly forced to raise associates’ pay by $100k to $550k year after numerous associates threatened to leave.

Josh Harris, the co-founder of Apollo who left the company in mid-2020 to manage his own investments, seems to have contributed to some of the company’s legendary hard-drive culture. The Wall Street Journal reported in 2020 that Harris would send emails on Saturday mornings, asking “?” if he did not hear back within ten minutes, and that he had a reputation for “hammering young analysts about their financial models” and for saying things like “Some people play golf. Some people play tennis. I work.”

“Apollo is no longer a challenging or super-aggressive place to work,” says Marc Rowan, citing the experience of people he is placed there. “It attracts super-nice, low ego people now.” Under Rowan’s leadership, the culture at Apollo has changed. Bloomberg said last year that it is become more cerebral, that there is less micromanaging and more diversity. One headhunter for private equity confirms this, speaking off the record.

This may be true, however some Apollo colleagues may not agree; writing on Wall Street Oasis last year, a young female associate claiming to work for the fund said that the hours were still “crazy,” adding that 80-hour work weeks and being on call at night were standard.

Apollo did not immediately react to a request for comment for this piece; it was ranked fourth among the top private capital employers to work for in our Ideal Employer report; it was seen as less favorable to wellness than competing funds.

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