Billionaire family office doing fund of funds and Co-Invest (salary expectations)
I'm interviewing with a single family office (media related billionaire) who recently hired a Partner from a large money manager (e.g. private equity, endowment fund, insurance etc.), who is now looking for a Junior.
The guy functions a bit like an endowment fund, selecting private equity managers and investing the family's money into these PE firms while also doing co-invest.
What kind of salary can I expect in this kind of role?
Anonymous for obvious reasons
Depends on how generous your boss / owner are
Have seen folks like you earn tons over the long term by getting revenue shares
But mostly seen people stuck within a comp range cuz bosses won't share equity
Keep in mind FoF investing isn't generally a high paying job so revenue share chances are low by definition but single FOs can do whatever they want
Would also add though that these kinds of jobs have significant optionality because you'll soon grow up as a guy that this billionaire trusts
He may give you functions/jobs/funds to manage/board seats whatever in the future if you perform well, so even if you conclude this base case FoF function isn't the most attractive, maybe the job is worth a test LT for these reasons
I mean I'm currently interviewing with MM FoF funds + LMM PE/PD + ECM roles I was wondering where I would likely make the most while having a good wlb.
I did SA in m&a and couldn't see myself do it right now for only a bit more money (live in a high tax European country) but significantly worse wlb . The CIO I've talked to mentioned to me that the Family is entrepreneurial and is also willing to pay for performance and is not cheaping around.
I work in a not dissimilar setup to this and am plugged into this ecosystem. The answer is "it depends". Some groups will be more competitive than others (eg we compete at IB level salaries). What is true is that if you perform you have scope to negotiate in ways that would never be possible in IB where I previously was. Would just caution joining if you're not yet comfortable in your skill set. You'll likely have little mentorship or technical guidance so need to be self sufficient and confident enough to run with things (I see this as more of an appropriate role for an associate or junior VP given its just you and your boss).
Alright thanks, let's see where I would even get the FT offer and will then come back to wso to discuss my options.
Hi - I know this thread’s a bit old, but was wondering if you have any insights on what some of these private markets family offices or OCIOs (for sr executives, their families, etc) could pay at say the Principal level focusing on VC / PE. I know it may depend on firm, but wanted a directional idea. Let’s say the firm has committed maybe $3-4bn+ so far in the asset class, and they give a base range of say $170K-$275K. Curious what bonus could look like (as a % of base, or total…)
I worked at a similar office straight out of my MFin and the analysts at least had a bonus of upto 50%, Was a very small firm with only an analyst before me and a couple of partners, so have no info on VP/Principal level bonuses. Hopefully, you can negotiate it tying to performance.
But like you said, family office/OCIO pays vary substantially based on firm to firm. There's no uniformity and is all case by case basis, so feel the room before.
in a seat as you're describing, with base in line with range you've provided; total comp expectations are around $850k-$1M
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