Why Welsh, Carson, Anderson & Stowe: Interviews, Careers, & Portfolio

Aspiring investment professional? Welsh, Carson, Anderson & Stowe could be the right firm for you
Table of Contents
    Add a header to begin generating the table of contents

    Welsh, Carson, Anderson & Stowe Overview

    Welsh, Carson, Anderson & Stowe (also referred to as Welsh Carson or WCAS) is a private equity firm located in New York, USA. WCAS was established in 1979 and primarily invests in US-based companies in the healthcare and technology sectors.

    The investment strategy of WCAS is to:

    1. Buy growth businesses
    2. Partner with outstanding management teams
    3. Bring value for WCAS’ investors through strategic acquisitions, internal growth initiatives, and operational improvements.

    The firm differentiates itself from other investment firms by their industry specialization, growth oriented and operational focus, strong track record, repeat management teams, and their financial commitment and continuity.

    Patrick Welsh, Russell Carson, and Bruce Anderson established WCAS in 1979. Russ Carson and Patrick Welsh both worked at Citicorp Venture Capital as Chairman and President, while Bruce Anderson as Executive VP of Automatic Data Processing.

    Welsh, Carson, Anderson & Stowe logo

    Welsh, Carson, Anderson & Stowe AUM

    According to most recent regulatory filings, Welsh, Carson, Anderson & Stowe has $15.8 billion in assets under management as of March 31, 2023.

    Welsh, Carson, Anderson & Stowe Interview Process & Questions

    Firms can make changes in their interview process for each candidate. However, there are some parts of the process that remains consistent if you interview at Welsh, Carson, Anderson & Stowe (or a firm like it) such as the following:

    • 4 to 6 rounds of interviews
    • Junior investment professionals or the HR team supervise the initial rounds, while the more senior staff handle the later rounds
    • The entire process usually takes several weeks – unless it is “on-campus” or “on-cycle” recruiting

    Interviews at Welsh, Carson, Anderson & Stowe typically consist of behavioral questions, fit questions, and technical / investing questions.

    If you need resources to better prepare for your interview, check out my Growth Equity Interview Guide.

    Why Welsh, Carson, Anderson & Stowe

    “Why this firm” is the most common and crucial question you’ll encounter during interviews.

    If you’ve met people who work at the firm during your networking efforts, this is the perfect opportunity to mention whoever you’ve connected with and share how they’ve positively influenced your decision to join the firm.

    Another good practice before showing up at interviews is doing some research about the firm. One way to do this is to listen to interviews with its founders, investors, and employees.

    For starters, here’s an excellent discussion with Mark Tomaino, an operating partner at Welsh, Carson, Anderson & Stowe:

    YouTube video

    More interview

    Welsh, Carson, Anderson & Stowe Case Study

    Case studies are almost always part of the interview process. That’s because firms use case studies to evaluate their candidates’ communication skills and technical knowledge.

    Most case studies at firms like Welsh, Carson, Anderson & Stowe center around financial modeling and investment recommendations. But for junior roles, a cold calling case study may be required as well.

    For a comprehensive discussion of case studies, check out my Growth Equity Interview Guide.

    Welsh, Carson, Anderson & Stowe Salary & Compensation

    According to Glassdoor’s data, if you work at Welsh, Carson, Anderson & Stowe as an Analyst, you can earn an estimated total pay of $103,363 per year. If you’re an associate, your total pay is approximately $113,881 per year. However, these figures can still vary depending on the candidate’s level of experience, education, and skill set.


    Welsh, Carson, Anderson & Stowe salary


    Welsh, Carson, Anderson & Stowe salary

    Welsh, Carson, Anderson & Stowe Careers, Jobs, & Internships

    To view vacancies at Welsh, Carson, Anderson & Stowe, head over to our job board where we also feature open roles at similar firms.

    Welsh, Carson, Anderson & Stowe Portfolio & Investments

    According to Crunchbase, Welsh, Carson, Anderson & Stowe has made 28 investments and manages 5 funds. Some of their notable deals include Linq, Revel Systems, and ImageTrend.

    Notable Transaction: Kiniciti

    Kiniciti is a newly-formed platform established to help and partner with companies with the potential to strengthen and transform the cell and gene therapy landscape.

    With their collaborative, flexible, and highly tailored investment and strategic support system, Kiniciti aims to deliver cell and gene therapeutics quickly and safely to patients who are in need worldwide.

    In February 2021, Welsh, Carson, Anderson & Stowe made a financial commitment worth $250 million to Kiniciti and formed a strategic partnership with the said company.

    Kiniciti allocated the investment in a cross section of CGT opportunities, both small and large, across different locations.

    Next Steps

    Welsh, Carson, Anderson & Stowe can be an excellent firm for anyone building a career in finance and interested in the healthcare and technology space. If you’re looking to land a role at the firm, I highly suggest you first check out my Growth Equity Interview Guide.

    This self-paced online course will help you get a good grasp of growth equity concepts which you’ll encounter during your interviews. Countless professionals had successfully made the jump into growth equity investing with the help of Growth Equity Interview Guide.

    Get the course and secure your dream finance role!


    The #1 Online Course for Growth Investing Interviews

    Screenshot of course preview

    Get My Best Tips on Growth Equity Recruiting

    Just great content, no spam ever, unsubscribe at any time

    Picture of Mike Hinckley

    Mike Hinckley

    Founder of Growth Equity Interview Guide


    Coached and assisted hundreds of candidates recruiting for growth equity & VC

    • General Atlantic logo     Investor at General Atlantic 
    •      Operator in portfolio at Airbnb 
    • Deutsche Bank logo     I-banker at Deutsche Bank
    • US Treasury Department logo      Advisor in Obama Administration
    • Wharton logo     MBA at Wharton
    Company logo


    Get My Best Growth Equity Interview Tips

    No spam ever, unsubscribe anytime