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Not an answer to your question, but I had a question for you as you are 3rd year at MF. Incoming analyst at a good IB group with good exits, does my non target and bad sat score background matter
Yes
Joined a fund of similar size (150M) a few years ago as a VP, base was 155k, bonus was 160k and carry of 3M based on a 2.0x MOIC.
Fund III currently, carry % stayed the same
The vesting schedule is 80% over 5 years with 20% deferred till exit, for tax implications read up on Section 83(b).
Above market carry but below market cash comp so they kind of 0 each other out, I have a few friends that did the same thing (taking below market cash comp for higher carry) but I wouldn't say its common
I guess you could say it's uncommon but not unique
I used my cash comp and what I was told to expect as carry from my old fund as a bargaining chip