Recently received an offer for a LMM fund (~400M recent fund size) for est. comp of 185 all in. The firm is located in the south, so COL is lower than NYC, but wanted to know if this market for LMM in the south? For reference this is slightly below what the average 1st year analyst made last year at my bank.
Also, wondering what % increase to push for in a negotiation (and more generally if it's worth negotiating)
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Not sure exactly what is street given so much variability but two data points to be helpful:
I) NYC (~$300m fund): $225k all-in ($130k base)
II) Boston/Chicago (~$200m fund): $200k all-in ($110k base)
While its easy to compare yourself to IB salaries I would say that the $185k is a bit inflated and its just not good to compare PE/IB salaries as in general PE (except MF/UMM) will underpay IB for analyst-VP years
Seems low even for geography. Currently at a fund of ~500mm latest size and all in comp ~240k in the south. Any idea on WLB? If you can confirm that its pretty chill then I would definitely factor that in. I'm consistently clocking a baseline 70+ hours and haven't even hit a true live deal "sprint" yet.
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