European MF pay in Us (CVC,EQT,Permira,Apax)
Does someone have datapoints into comp at the associate and VP level for CVC, EQT, Permira and Apax?
thanks!
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Huge range in above list from 475-625+
Permira / CVC / EQT start off at roughly $325-$350k for first year associates, then bump up $40-60k / year in cash comp so around street for MFs, maybe a tad higher. Believe there are aspects of coinvest (not sure if levered or not), and carry starts kicking in after two or three years at the firm (at least for Permira / EQT). Don't think it's a very meaningful amount (maybe something to the effect of 10 / 20 basis points), but scales to closer to 100 basis points as a principal.
The typical fund size for an EQT is around $20B, right? So assuming a 2x MoM, with $20B carry dollars, 100 BPS seems like quite a hefty carry payout - am I missing a critical aspect that makes the numbers more sensible?
2x on 20bn results in 5bn carry dollars, not 20. But I agree, that fund is massive with lots of mouths to feed so 1% of the pool for not even a senior investment guy seems too much
Their “typical” size is not 20. They are expecting 20 in their latest fund, but the one before that was like 15, which again was up from 12 or so.
2x mm would be like 4 in carry pool. 20% of 20 = 4. Firm takes like 30%, then 70% to the team. Partners take like 70% of the remaining, leaving 30% of 70% (approximately 21% of total carry) to below partner level.
Lol, you aren't getting 100bp as a principal a third to half of that for these MFs
What about Apax?
Some of this is a bit off. First year comp, for one of these is up to 450k, carry kicks in after a year, and you also get co-invest opportunities from day 1. From speaking to recruiters I’d say the carry and co-invest scheme is really unusual for a fund of this size (in being made available so early on) but then again, it’s really not a 2 and out shop so they pay accordingly
Which one god damn
Which one?
I wonder if Glendower will increase comp to match CVC since the acquisition.
Adding Hg
CVC Associate 1 comp (they call it Investment Executive) is $130K base.
EQT Partners Associate 1 is $150K-$170K base.
Permira Associate 1 is $150K base.
Would assume 100% bonus for all of this.
This info is all publicly available in the h1b salary database.
Close ! But no cigar
Unless you work at any of those firms, I’m going off more reliable information than just hearsay
Interviewed at EQT before landing my current gig at a US-based MFPE - one thing that left me utterly shocked was that they give 25 PTO days to first year associates (hurt even more when I found out I was getting 10 at my current place)
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