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Direct Lending Jobs in Chicago, IL (NOW HIRING)

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Direct Lending information

See Chicago, IL salary details

$11.3K

$86.6K

$143.8K

How much do direct lending jobs pay per year?

As of Sep 6, 2026, the average yearly pay for direct lending in Chicago, IL is $86,637.00, according to ZipRecruiter salary data. Most workers in this role earn between $62,900.00 and $128,900.00 per year, depending on experience, location, and employer.

What is direct lending?

A Direct Lending job involves evaluating, originating, and managing loans provided directly to businesses or individuals without intermediaries like banks. Professionals in this field assess credit risk, structure loan terms, and ensure compliance with financial regulations. Roles can vary from credit analysis to portfolio management, focusing on providing customized financing solutions. Strong analytical skills, financial modeling, and an understanding of market trends are essential for success in this field.

What does a direct lending professional do?

A typical day in Direct Lending involves conducting due diligence on potential borrowers, analyzing financial statements, structuring loan terms, and preparing credit memos for approval. Team members often collaborate closely with credit committees, relationship managers, and legal specialists to ensure seamless deal processing and compliance with internal policies. Regular communication with clients is also a key aspect, as it helps address borrower inquiries and manage ongoing relationships. While the workflow can be dynamic, strong organization and prioritization skills help professionals stay on top of multiple concurrent transactions.

What skills and qualifications are needed for direct lending?

To thrive in Direct Lending, you need a solid understanding of credit analysis, financial structuring, and underwriting, often supported by a degree in finance, business, or a related field. Familiarity with loan origination systems, financial modeling software, and regulatory compliance requirements is typically expected. Strong interpersonal skills, attention to detail, and effective negotiation abilities are crucial for building client relationships and managing transactions. These competencies ensure accurate risk assessment, efficient deal execution, and successful portfolio management in a competitive lending environment.

How to get a job in direct lending?

To get a job in direct lending, candidates typically need a bachelor's degree in finance, economics, or a related field, along with strong analytical and communication skills. Relevant experience in banking, credit analysis, or financial services can improve chances, and certifications like the CFA or credit-specific training may be beneficial. Applying through financial institutions, networking, and demonstrating knowledge of lending processes are key steps.

What do direct lenders do?

Direct lenders provide loans directly to borrowers without intermediaries, often offering personal, business, or mortgage loans. They evaluate applicants' creditworthiness, set loan terms, and handle the approval process, typically using financial analysis and underwriting skills.
Direct Lending jobs near you
Infographic showing various Direct Lending job openings in Chicago, IL as of August 2026, with employment types broken down into 95% Full Time, and 5% Part Time. Highlights an 90% In-person, 5% Hybrid, and 5% Remote job distribution, with an average salary of $86,637 per year, or $41.7 per hour.

Direct Lending/Private Credit Associate

Connect Search, LLC

Chicago, IL • On-site

$250K/yr

Other

Re-posted 23 days ago

Job description

Associate, Direct Lending

Chicago, IL | 4 Days In-Office

About the Firm

The direct lending credit affiliate of a leading global private investment firm with a substantial multi-strategy platform spanning private equity, credit, real estate, and other strategies.


Why This Seat

  • Industry-agnostic mandate
  • Both sponsor and non-sponsor transaction flow
  • Well-staffed team allowing for depth and intentionality on diligence rather than a lean deal team environment
  • Significant responsibility and autonomy at the Associate level
  • Coinvestment opportunity
  • Not a traditional "two-and-out" seat — structured as the primary entry point for a long-term upward career path


Key Responsibilities

  • Engage in all aspects of due diligence and business analysis to develop and refine investment theses
  • Modeling, valuation, and structuring of potential investment opportunities
  • Identify key credit merits and risks
  • Prepare detailed investment committee memoranda
  • Support credit documentation and closing processes
  • Manage and monitor existing portfolio investments


Qualifications

  • Relevant experience in investment banking
  • Elite financial modeling ability
  • Passion for fundamental credit investing
  • Outstanding interpersonal, leadership, and communication skills
  • Ability to self-direct and form independent judgments
  • Strong academic background


Compensation & Benefits

Total compensation is roughly $250k

Apply