Guys, here is an update to my original post (posted in December).
I interned (unpaid) at a lower middle market(deal sizes between $10-50mm) in Orange County, CA for 3 months (Sep-Dec 2011) and was offered a job with the firm at the end of the year. The terms were $40k salary + a discretionary bonus of up to 100% of my base salary (so possible $40k bonus). The hours here aren't too brutal, I average 12 hour days but during peak times I may have to pull 2-3 all nighters in a period of a couple weeks.
At the end of the year I received a bonus of $20k (50% of what I could have made) so my total comp came in at $60k. I was told this number was not due not to my individual performance but the average performance of the firm for the year. Additionally, my base salary was increased by 20% for 2013.
What are your thoughts on my 2012 total comp? Is $60k worth the stress, long hours, etc.?
I am happy to provide more information if that helps.
Thanks in advance!