I have an internship offer with a small pe shop. The guy was asking me what I'm looking for in terms of compensation. Obviously I would like to make as much as possible but I don't want to come off badly. I'd be living in the city for the summer so I have to cover rent as well.
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then calculate how much you'll need to live on and ask for it.
Do a quick spreadsheet with basic costs of living in the city, print it off and take it with you to the discussions. This would support your figure and not make you look greedy.
Look at what comparable PE firms are offering, bring him proof of that, and say you would like something comparable to the going rate for an intern at a PE firm.
At best ask for 70k prorated, but if it's a small PE shop that actually hires interns, they're obviously doing it because they want cheap labor. 40-50k prorated is probably a more likely number.
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