LMM PE Salary / Offer Evaluation
Received LMM PE Associate offer ($350-$600M fund size) in a Tier 2 City. 100k base and 50% bonus target.
Seems low to me coming from banking but was wondering if anyone has insight and if it’s a fair offer?
I was going to ask what role this is for, but pretty much regardless of how you answer, yeah that's low.
Edited the post. It’s for a classic PE Associate position
Heading to shop whos latest fund is 450-600mm, 125k base 80% target bonus. Major metro in the south (DAL, ATL, ATX) not LMM focused though.
Unless you absolutely love the team and / or will not have to work anything close to "regular" PE hours, there should be a 2-handle in your total comp at a minimum (in my opinion). Funds need to get with the program and realize they can't be paying Associates less than IB analysts (setting aside the egregious pay gap vs. IB Assoc)
This report should tell you everything you need to know.
that's a big range in fund size. I agree with posters above if its closer to the higher end. If its $350MM though maybe not too far off. Small funds pay with small checks.
They just closed a new fund that is $500M+, but the previous fund was ~$300M. Looks like they base their pay as if they were still very small.
Agree with below poster. Market is red hot for associates right now and firms are scrambling for talent. Get them up.
I would negotiate for $120K salary and 50% bonus target, that should be more in line. Dont be afraid to negotiate OP. Yes it does work for PE associate positions.
Thank you, that seems reasonable to ask for. I really like the team / fund, but getting paid less than a 1st year in banking is very questionable.
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