Am I being underpaid?
Hearing about associates making 300k+ has me thinking that I am underpaid, but my WLB is pretty amazing...
$110 Base / $50k Bonus - Minimum Guaranteed
Based in LCOL area
1st year LMM PE associate
Get a 20/40k deal bonus (20k for add-ons) and can invest the bonuses into the deal.
If the deal bonuses do not surpass the $50k, then I get $50k, if they surpass the $50k, then I only get the deal bonuses.
Ideally close at least 2 deals a year.
Hours are 9am-7pm, rarely have weekend work
Yes, my friend. You are being relatively underpaid. With inflation and increases in pay street-wide, associate comp should be $200+ at the bare minimum. But sounds like you have a good thing going. Can't put a price on WLB.
All-in, you're cracking $200k with the deal bonuses, no? That seems in-range, if not a bit tad low, for LMM associate 1 comp.
My take is that based off the WLB balance, deal bonuses, 50k just being a minimum (how much higher can bonus be?), and LCOL, that it actually all feels like a pretty solid overall package. How has fund longevity and returns been? If those are good the deal bonuses could be very nice.
how LCOL are you. Know a reputable 500m fund ($1B+ AUM) in a lcol area paid $150 all in. Seems like lmm in lcol can have up to a 25% discount compared to t1 cities.
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