Jumping from Associate to #2 at Developer - What to Ask for Comp Wise?
I'm currently a senior investment associate at a small but well known investor / developer - I have c. 6 years of experience. We are a smaller company but work with top tier PE & institutional partners and have been lucky to buy some high profile deals over the past few years. I won't give too much detail on geography or sector as I would be easy to identify but I would say we are a leading player in our city (HCOL).
I joined early on in the company's life as employee number 4 and the company has grown a ton since. Through a mix of hard work and being in the right place I've ended up as one of the longest tenure employees - we have just had our CFO/COO leave and the CEO just took me for lunch to say that he will promote me to help fill the gap rather than hiring externally. Couldn't be more excited - it feels like years of hard work for what is a relatively low cash comp (see below) have paid off!
Exact title is TBC but I would essentially be #2 to the CEO at the firm and they have said that I will be getting a significant pay and incentive bump to reflect this. I would like to reach out to the community to get a sense of what promote / incentive comp I should be targeting (I don't have much sense of where the senior end of the comp spectrum sits in development).
Generally speaking we have low cash comp but high incentives. I'm currently on a $140k base + 20% cash bonus + 5% promote in my deals (5 deals) + 1.5% promote in all of the company's deals (12 deals). The total promote stake would be worth $500 - $750k if we hit our underwriting but realistically it's worth probably $200k right now.
I fully appreciate how lucky I am to have the percentages above at this stage in my career and I'd like to make sure this moves correctly in line with my new position. Any data points from VP upwards would be a huge help, thanks in advance!
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