MF Associate Compensation
A little background: I signed at a MF doing PE during on cycle this past September. I met people at the firm during networking but am not extremely close with anybody at the place. Base is 150K but am trying to find some data points for what I might be able to expect in the way of bonus? Do MFs generally pay +100% bonuses to first years? Some friends I have spoken to suggested I could be making 350K+ total in the first year. Is this realistic?
Not sure about your MF, but can confirm some do pay 350+ first year.
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Signed MF on cycle as well for 2022 start. 150k base with 100% bonus, and then the numbers go up per calendar year. Will caveat the number goes up once we are in 2023 (base goes up 20k), but your 2022 YE stub will be based off of the 150k. Some of other friends at MFs also have 150k base (including APO, which just has a much higher bonus). Know some MFs have slightly lower base, and slightly higher to make up for it.
Same. Signed an offer for the same thing. Base 150k, bonus 150k with 10-15k of equity. This is after raises at the firm.
Are you in PE or PC?
.
What's the London pay ?
Bump
Most MFs pay London Associates the same / similar. My salary is based in USD and I get paid my base in GBP. At the end of the year, my bonus gets adjusted for average GBP / USD rate fluctuations for the amount I was overpaid / underpaid vs. $150k base.
Is PC similar or far below?
Similar for MFs (at least for BX)
I don’t know why that sounds unrealistic to you. Most BB associates are paid 350k. Did you recruited that hard for a job that ask for longer hours to be paid less?
Longer term upside in PE is better, obviously. Plus being a quote-unquote 'investor' is worth something, rather than another salesman
I agree that being an investor carries more weight than being a banker (salesman). But the PE firms should still pay up more. Doesn't make sense that an avergae BB IB Assoc1 is outearning MF PE/PC Assoc1 by roughly 50-75k. The spread when comparing EBs just makes it that much more worse.
Unrelated but you do know when you’re typing on a keyboard and not speaking out loud you could use actual quotation marks versus the phrase “quote-unquote”
My understanding is the first year is pro-rated. If you start in the summer or fall, you won’t see the full $300-350K.
All in ~390, hear this is a bit above street
How are you liking Warburg
for a Assoc0/1, that's a lot more than I was offered.
But fr though, what the fuck. I prefer being on the buyside but the buyside is only worth it for people staying in to a senior level. I don't see the rationale of underpaying vs even BBs when you get booted out after 2 years. It's like giving the Goldman discount without the GS name, and you’re working like a dog.There should be equal pay at the associate level because it's actually harder on the PE side. You join a new firm, have no political capital, need to prove yourself and probably can't push off work the same way. It's fucking tough… and a pay CUT?!?! Fuck that…
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