For what its worth, from one 10BN + fund, the all-in cash comp offer was between $250-290k. The rest of the upside is TBD...I heard from a head hunter this is a little below market with others being at $300k. There is going to be variation in these numbers between people since the offers are subject to negotiation.

Also, friends of mine who are joining different $500 MM- $2 BN funds in Chicago, are around $200-$225k.

All of these offers were given/accepted in May or June, so not sure if the market has moved in either direction and are for assoc. roles after 2 years of banking.

 

Yes, Model 21, that's correct.

And I think this kind of pay structure will be maintainted going forward, but we won't see the pay scale increasing in leaps and bounds like it did between 2004 and 2007. At the junior level, our pay is not correlated to any carry, fund return, or market factors so it shouldn't fluctuate based on performance. Although I do see some of the outrageous compensation packages and non-cash incentives at the mega-funds going away.

 

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