Curious to hear about people's experiences working at relatively smaller MM PE or PC firms with $1-$5bn AUM. Recently finished my first year in banking, wasn't ready for on-cycle but now have an interesting opportunity to join a fund in that range with a cool special sits strategy. I am a weirdo who actually tolerates banking and I was starting to consider this for a long term career, have a good spot right now and a clear path upwards. Do any of you have advice or experience (good or bad) on joining a small buyside shop? Curious to hear thoughts on upward progression, opportunities to lateral to MF, and just general pros and cons. Really appreciate any input
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I'm at a startup fund with Fund I in the $200mm range with Fund II fundraising ramping up. Happy to answer any Qs you might have.
Cash comp was at a discount to IB but got just under 100bps carry.
So we looking at all in cash comp in ~150K range? What gave you comfort on such a discount to IB Associate pay? Just curious. Sorry if I am incorrect on the comp range
Probably closer to 200k - 220k. ASO at my old bank would have been ~350k + 50k A2A bonus.
Honestly I knew I was done with IB + getting carry so soon was appealing.
Nice. Congratulations. If the team and culture feels good then def a good move over the long term
Is this in a HCOL city?
How have your hours been?
Do you miss banking/any regrets?
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