Curious on comp of others in the AM/PE field.
Background on me: currently serving as a asset manager/senior underwriter/originator in a bank sponsored PE or tax equity infrastructure group. We are a very small niche team, with quite a large portfolio, doing direct partnership investments with developers on behalf of a smaller national bank, serving as the LP on all current deals. We do everything. And when I say everything I mean from sourcing and structuring the deal, modeling and underwriting, issuing LOIs, due diligence to closing on the front end, and then mange the investments through construction (on the debt and equity side) and the holding period, unwind and exit. We are well versed in LIHTC, New Markets, HTCs, and I’m hoping to have the opportunity to build out a direct investment renewable business here soon too. Also manage the banks equating equity funds, and have been exploring syndicated fund sales for the bank, where we would agent. The work is highly fulfilling, and beats everything I’ve done in leveraged lending and IB - I’ve been given a high degree of freedom to explore opportunities and I’ve learned a lot and have made a name for myself at my institution.
Now here is the con - the pay. Since we are a young team and the only people doing this line of work at a commercial bank, we have had troubles with HR in determining compensation. I’m currently highly under compensated, and overworked, but I’m passionate about this space and line of business, and I love my job.
Just looking to get an idea of what a position similar at a larger fund or shop would pay as I may be looking to negotiate a new salary or look elsewhere. I’m not sure what the equivalent would be, but I’d say something like vp senior associate, or vp. Also, how much does someone’s academic experience weigh on recruiters looking to hire at big shops of BBs? I’m a non-target grad without an MBA and have no intentions of going back at this point because my work ethic and track record, promotions and experience should speak for themselves.
Any advice here would be appreciated. Thanks in advance!
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