Portco Csuite Comp for MM Non-CFO/Non-CEO?
I've got a legal background rather than finance. Recruiters have been reaching out about solidly MM portco general counsel roles. They've been clear on the cash side of things (consistently been told 275 - 375 base and 40 - 50% bonus) but totally opaque about equity. My sense is that they don't want to discuss that until the point at which you'd speak to the GP. I'm trying to figure out if it's worth my time to interview when these come my way.
Can anyone share what they've seen as equity for general counsel roles at MM portcos? I get that it will be below the CEO and CFO, but is it usually in the COO range of around 1%? Assume this is coming together in the aftermath of the initial PE acquisition.
Have only a few datapoints, but I’ve generally seen 0.4% to 1% depending on candidate quality (typically in the middle of that band).
Thanks, that's really helpful. Would you say that expectations should be for there to be at least a small small step down from the COO share unless there is some kind of really important skill set that they need from the general counsel?
I'd say it depends on the type of strategy - at my firm, our COO is generally the biggest hire that we make, so the step down from COO to GC is pretty substantial. Probably fair to assume some sort of step down across the board, but I could be off on that.
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