Corp Dev / PE Associate Offer at Search Fund (120-150k) in MCOL City
Background: Currently at MBB (~1.5 years of tenure) as an undergraduate hire and thinking about leaving the firm in a month. I just received an offer for a corporate development / PE associate role in a MCOL city (think Denver, Austin, Philadelphia). The role is with this newly-formed acquisition platform and comp is 120-150k (20k of that is equity). Hours are around 45-60/week. I'd be employed by the fund itself (ran by 4-5 ex-PE guys, really small). Should I be asking for more given it's a PE-type role and those typically pay 200k+? I'm thinking of asking for ~170-180k but am not sure if that's too high. Edit: the firm in question is a search fund, not a PE shop. Just want to make that distinction.
That’s low.
150 and 30% + options is kinda a decent base line for an active platform say 5-15 acquisitions per year. Associate level
What does corporate development / PE mean? Is it corp dev for a PE portco? If it's really a PE investment associate role, then pay should be 200+. If it's corp dev, then the range given makes sense for the YoE. But not sure what PE-type means.
Agreed. This comp seems perfectly fine for corp dev at a portco.
For a corp dev associate with 1.5 years of mbb experience, 150 tc is totally fair. If you could get 130 base, 10% bonus and 20k equity that would be great.
What about if the alternative is LMM PE in the same MCOL city? I have a couple friends who work in PE here and one of them quoted he's making ~200k for ~50-60 hours of work.
I guess my question is not just about this role in a vacuum, but more so that there are presumably PE roles out there with equivalent WLB that pay more. While I'd be trading a bird in hand for hopefully landing a role at one of these shops (I'm pretty confident in this; past IB summer internships and strong financial acumen), I don't want to be underpaid if I'm confident I can likely find better.
Thoughts?
I’d imagine there are fewer of those LMM PE with good WLB roles / harder to secure. A lot of LMM PE role can become diligence heavy with less sophisticated financials to work with that consume a lot of hours. But, I’d agree that a LMM PE role with good WLB and an upward trajectory / clear path to carry would be very appealing
LMM pe firms like you’re describing do exist and pay 180-225 all in, with 100-125 coming in base. A corp dev associate is definitely going to make less though. You should figure out what you want to do/what this role entails to determine if this comp feels right for you
Don’t ever ever ever ever ever ever go to a search fund or independent sponsor. Raising capital for said deal will be a nightmare unless the guys have killer track records
Dolor consequatur sit consequatur vel sint architecto similique quam. Voluptas voluptatem repellat quo ut. Debitis consequatur cumque facilis eligendi quos. Nesciunt quia impedit dignissimos consequuntur quisquam dolore. Ut nam explicabo nemo tempore atque. Ab et quas quas nihil sit impedit earum.
Atque dignissimos laudantium suscipit cupiditate. Beatae quasi nostrum et voluptas. Ipsum rerum voluptatem ullam eum animi et corrupti. Voluptatem voluptatem voluptatem nam reiciendis.
Libero et voluptatem aut molestiae. Minima harum animi dolor voluptatem ipsum in. Dolorem nam dolores aut aut qui voluptates et.
Est enim nihil beatae assumenda non sequi omnis. Voluptas aspernatur libero similique qui et sed occaecati odio. Sint ducimus occaecati ab.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...