Comp at a $500M LMM/MM Fund?
Negotiating comp (base, bonus and carry) at a $500M fund focused on LMM/MM transactions. Position will be Senior Associate and expected to do everything from sourcing/deal origination to execution and some portco/ops work down the line since small team of 6-7 investment team members. It's a career track opportunity and location is NYC.
I know there are comp reports out there but would appreciate any guidance around comp relating to the title and fund size; curious to hear what others are getting as well in terms of cash + carry comp. Thanks.
Bump
Kind of a wide range but $280-$350 is market from what I’ve seen and heard for senior associate at that fund size. I’m at a similar sized fund but T2 city and we’re at the low end of the range.
No carry for us, but feel like like +/- $750k DAW is good starting point for carry negotiation
Is the $280-350 range for a Tier 1 city?
Yeah
Anyone have comp #s for fund with a 1b fund size?
Probably around $350-380k range with $500-750k DAW from what I've heard. Would be great to see some actual examples from folks here
I’m in a T2 city and closer to the $220k range, no carry. I think my firm is an outlier though
Any data points from Sr. Associates currently a LMM/MM fund?
I'm at a ~$1bn fund paid $300 no carry in a T2 city.
Sr. Associate?
Yes
Sr Associate
$700M Fund
Tier 3 City
$180k base + $135k bonus + $1.5mm DAW
Seems solid!
Did you had to negotiate this number or took what they offered? Would be great to get any negotiation tips. Any idea on the standard bps ask for a senior associate at a new $500M fund? Assuming it's around 50-75bps? Or is 100bps fairly common too?
For NYC SR ASC, I would expect $275K -- $315K all in; $0.5mm -- $1.0mm DAW.
Promotion to VP: $375k -- $425K all in; $1.0mm -- $2.0mm DAW
Thanks! $275-315k for Sr. Associate in NYC seems a bit lite but good data point to have. Is this largely because it's a $500M LMM/MM fund?
Yes, because of fund size.
Sr Associate 1
T1 City
$250-500M Fund
$315K ($125k base, $190K bonus)
No carry
Nice! Did you try and negotiate an even split between base and bonus or is this the standard since it seems bonus heavy.
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