Am I underpaid? Associate earning $200k/year in Boston
Apologies in advance for the clickbaity title. I'm a 1st year associate at a semi-large PE shop ($2bn+) located in Boston that focuses mainly on secondaries/co-investment opportunities. As you can see from the title, I'm expecting to make around $200k this year ($150k base + 30%+ bonus). I'm curious to hear from others working in similar roles what an expected comp range/structure may be and if my firm is paying market. Thanks
Is this HarbourVest? Boston solid MM/UMM I have seen range anywhere from 200k to 300k with most in the 250k-275k range.
yeah this definitely sounds like HarbourVest. $200k is too low for a 1st year associate
I've heard shit things about Harbourvest. Get out.
Hey Analyst1, can I DM you? I am curious to find out what you heard as I interviewed with them recently. Thanks!
landmark partners?
HarbourVest for sure. They’re known to underpay and frankly it’s likely because they barely charge fees. I’d gtfo
Idk for Secondaries / Co-Invest it seems reasonable? Just a different level of intensity there. Also high base makes it a different $200k, way less risk on it. Seems fair enough.
I might be remembering incorrectly, but don’t 1st year associates at other secondaries like Lexington/Coller/Alpinvest pay ~$240k? Something like 120k base and 120k bonus. I think 2nd year associates are like 130k base and 130k-140k bonus or something like that. As you can see, bonus is at or above 100% the salary, so I feel like you’re getting screwed.
Although your base (im assuming at Harbourvest) is high at 150k, your bonus seems extremely below market. This could also hint that your carry will be shit if you progress at the firm. However, I did hear Harbourvest only works ~50-55 hours a week vs 60ish at the other places? Could someone please verify my numbers?
Secondaries/co-investment funds usually pay less and you also work less, so I don't think that's really under market
Harbourvest run by a bunch of Babson guys
Got a buddy at a top secondaries shop in NYC that is much larger than harbourvest. Pay is in line with MM/UMM PE shops, 125k base and 100%+ bonus for first year associate.
How are his hours? Assuming this is either Lexington or Alpinvest (maybe Blackstone Strategic Partners)
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