Hi All - I have been offered to join an upstart VC/growth fund at a senior associate/principal level and I’m the only employee outside of the partners.
I drive all the material creation in fund raising and do all the work on transactions we’re doing at the moment.
We haven’t formalised terms as of yet, but I must admit I don’t know much of anything about compensation and what to negotiate.
Would love some advice on salary, bonus and what carry % I should see. I’ll most likely be the only full time guy outside of maybe 1-2 junior analysts in the future.
Not looking to be greedy, just want to make sure I receive something that’s fair.
Fund size/target? Sector focus? Location?
Europe with global focus / $150-400m target / tech growth equity
Not sure about Europe but in the U.S, for $250M fund (as your midpoint), I'd probably expect salary+bonus $175K, 2% carry for Sr. Assos and $225K, 2.5-3.5% for VP at minimum.
Depends on how generous your partners are.
Thanks for this. The 2.5% - 3.5% at a minimum resonates - I had 5-7% in mind given the set up and fund size. The way I think about it is to compare IB comp if I continue over a 5 year period vs. Fund I earnings for one and also adjust for execution risk of the fund.
One could also assume that this could lead to something bigger with somebody else and thus the comp here is not the real prize.
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