Advice on FT Private Credit Offer
Need advice on accepting a FT private credit offer as an AN1. Located in Tier 2 US city but most likely will be able to be remote, firm has roughly 50mm AUM, but is raising 125mm right now, <15 people in the entire firm. I have a verbal offer but no indication of salary yet, I will be getting it in writing in the next few weeks according to MD.
Pros: Really enjoy the team/culture, working roughly 60 hours a week, lots of direct involvement with deals and senior management, taken a lot responsibility (even as a summer analyst), ability to grow within the firm as they grow, not as stressful as equity deals
Cons: Don't want to move to the city it's located in if they require me to (they said maybe 2 years down the line), not a brand name firm
Anyone ideas on comp (base+bonus) for this size of a firm? Is it worth moving to the Tier 2 city if it comes to it (I live in a tier 1 city right now)?
I know I don't have the offer in writing yet but I am wondering if I should still interview with other firms.
My thinking as of today: If the pay is good and I don't need to move there for at least 2 years, then I would accept the offer.
that's a pretty small fund. would pass on it (unless your other option is unemployment)
Yea I feel like there are too many risks and not enough upside. It would be one thing if it were a PE or hf offer that had some potential for crazy upside, but this sounds like a small direct lender with no brand name at all.
And if you’re 100% remote you will never build a closeness with your boss, and that could make it very easy for him to chop you in lean times.
del
How does $50MM work? Would think you’re competing with SBA banks and other commercial banks at that size.
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