Does anyone have an updated perspective on HIG's carry allocations at the mid levels (VP / Principal)? Any sense of DAW would be helpful. I saw a thread that stated that associate cash comp had been bumped recently but I'm curious if they still have a rep for underpaying after the associate stint.
| +89 | Nothing to do at work & bored to hell | 9 | 1d |
| +67 | Do people over-index on 'moats' | 22 | 1d |
| +53 | Predicted Net Worth in Trodden Finance Path by 60? | 20 | 1d |
| +44 | Biggest (avoidable) failures in PE Investments? | 25 | 1d |
| +38 | Why is ROIC never really a topic when looking at companies IRL | 11 | 5d |
| +24 | What do you think of PE Value Creation Careers in 2026? | 7 | 17h |
| +18 | LT Career Path after MF PE Associate Program? | 5 | 2h |
| +15 | Honest opinions needed about lateraling | 5 | 15h |
| +12 | NY LMM PE Recruiting | 3 | 2d |
| +12 | How to approach Buyside Recruiting | 3 | 6d |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
How much is associate comp?
Significantly under market. Heard $1mm daw for VP1
Thanks for the insight.
What do other firms typically give for vp DAW?
~$2-4MM is market in my experience
wrong
What’s the right number?
Pretty dog shit from what I understand, at least on the credit side. No vesting schedule until you hit MD, so it's purely funny money.
Co invest worth it though and make up for the lower carry? They have some crazy exits / IRRs
It helps, but don't forget co-invest is putting up your own at-risk equity dollars in a levered, illiquid investment that is subject to a multi-year vesting period as well (i.e. if you leave, HIG has option to buy back un-vested co-invest at cost and can adverse select you on a deal-by-deal basis in theory). Just not the same thing as carry.
That's off market our co invest is bulletproof you are an LP with no change in terms etc and no option to buy out. Our carry on the other hand has tons of holes. Options to buy if you go to a competitor, various clawbacks etc.
Agree that it's off-market, but that's HIG for you. Also based on close experience... they're not afraid to utilize that buy-back right! Based on my experience, you have to treat all of the co-invest / carry at HIG as funny money until it turns into cash in your bank account.
Yeah, though I’m not aware of large funds not being funny with carry. Agree you should expect to only realize the napkin math if you stay. If you don’t stay, treatment usually comes down to what your fund/group head will do for you.
Yeah but screwing people on the co invest is a whole new level
Coinvest is airtight, that’s fake news
Laboriosam doloribus non neque dicta enim. Magnam nobis quis tempora sint sunt praesentium autem quia. Nesciunt repellat corporis minima repellat omnis consequatur laudantium. Minima quis vel voluptatem vitae quaerat ipsum.
Voluptatem soluta eveniet tenetur voluptatibus aut. Quibusdam et rerum harum vitae vel. Nulla nisi aut voluptatem alias enim aliquid quis. Ipsa voluptas voluptatem adipisci aliquam nulla aut in officiis. Nam fugiat voluptas molestias beatae quos.
Autem ut explicabo et excepturi recusandae officiis magni commodi. Aut et quod omnis aliquam totam eos totam quaerat. Necessitatibus sequi quasi aut et magnam.
Quidem nisi laborum libero eos. Qui error minima architecto voluptas fugiat aperiam similique. Libero voluptas et debitis voluptatem magnam cupiditate. Corrupti voluptatem in aut quas aspernatur.
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...