Ask Recruiters about Comp?
Currently a 2nd year Associate in LMM PE, and feel overworked and underpaid. I get emails from recruiters all the time about lateral opportunities in the same city (LCOL) and similar sized funds. Is appropriate to reach out to these recruiters for a general "networking call" to try to get a sense of market comp for my city and fund size? Has anyone done this? Obviously if we connect on a specific opportunity it would be inappropriate to ask about comp, but my feeling is if it is just a general intro it may be better.
This is only my experience so YMMV, but when I was recruiting via headhunters I didn't ask about comp expectations until we were more seriously working together. That said, if you're serious about changing roles if the comp is better, then I think its fine to bring that up in your discussion to get a sense of what's market in your area as that will help the headhunter determine if they're even able to help you.
Yes totally fine, especially since you're actively looking to make a change and may be willing to work with them
You are overthinking it - besides, many publications put out comp. Also, I don't think it is inappropriate to ask. Next time you get hit up for a role, ask them what is the fund's budgeted comp range. Don't throw a number first. If pressed, say I'm not prepared to throw a number out and will need to consider several factors before doing so. It would be easier for me to provide feedback on the range you are working with.
I just reply back to the email/linkedin message asking for comp. majority of the times they'll answer. a couple of times they'll try to give the run-around, but you can just ignore them
I always asked recruiters what comp was. Some didn’t know but had a range based on similar clients of similar size. No recruiter was ever unreceptive to the question. One asked me afterwards what my current comp was and I was happy to share.
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