Middle Market PE Senior Associate
I’m up for senior associate coming up. Looking for what market comp (base, bonus, carry) for a fund $500M-1B. TIA
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For a Senior Associate role at a middle-market private equity fund with $500M-$1B in AUM, here’s what the most helpful WSO content suggests regarding compensation:
If you're negotiating, consider pushing for additional perks like carry or co-investment if the base and bonus are on the lower end.
Sources: Data: Average Private Equity Compensation and Carry from Associate to Managing Partner, Data: Average Private Equity Compensation and Carry from Associate to Managing Partner, Vice President Fund Carry/Equity, Carried interest for Associates / Senior Associates?, From Private Equity Associate to VP in Private Equity
What’s your comp now?
I would expect $350-450 cash, no carry.
150/175 + small carry. The 150 seems very low and the total on the low end
How much carry in DAW (assuming 2x) / how many bps?
unfamiliar with daw, but 0.25%
Dollars at Work. Assuming 750mm fund, 2x return would be 1.5bn total value, less 750mm return of capital = 750mm of profit *.2 for carried interest = 150mm of carry proceeds.
25bps * 150mm pool = $375K DAW
325 for a second year associate at a 1B fund feels quite above market.
Another comp study data point
1st year senior associate in title
Looks like you already got the numbers: $325K total cash and 375K DAW. Was this 2 (or 3) years as associate and now third year as senior associate, or are you coming in post MBA?
Your cash is a on the higher end of market and your carry feels on the lower end for your fund size. Overall it’s a solid package and more cash is always appreciated. Not sure if you have room to negotiate but would push for 50bps to the extent you can, or at least another 10/15bps.
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