What would be the minimum pay you would expect to receive for a first year pre-MBA associate position at a regional PE firm (i.e. not NY, Chicago, LA, SF) with a current fund size of ~$500mm. I have 3 years IB experience at a strong MM firm in NY. I have heard from the headhunter that the firm will most likely offer 70k with 100% bonus which they typically payout at 80%. Is this too low an offer? Should I try to negotiate for more or should I just be happy to find a PE job in this market.
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pm me..i might be able to provide some thoughts.
Base pay is way too low.
Would it be more appropriate if it was 80-85k base? What about signing bonus / relocation expenses?
Way too low. Didn't you make more than that as a 3rd year analyst?
I made 180k all-in as a 3rd year. Remember this is not a megafund in a major city. What would you suggest is an appropriate offer?
You can PM me if you would like....
My PE fund is a similar size, and I get 85k base, in 2009 bonus was $135k. $220k all-in. In two years, I get carry as well. This is NY though...
how much did you net per month (base+bonus), after taxes?
Even if it's not a megafund, a solid MM firm should pay very close, if not more, than your 3rd year salary. I would think 90K base with 80-120% bonus and possible co-invest, at the least, would be more appropriate. That's what I've heard regarding other regional MM funds. I haven't heard anything about signing bonus or relocation, so I can't comment there.
Hmm, I'm aware of a number of similar size PE shops that pay about what you're offered, maybe slightly more. I definitely do not think you should expect a co-invest. As a pre-MBA, co-invest and carry should NOT be expected. Given the market, they may be paying a slightly depressed base. If you're looking to negotiate, consider asking for 80k base. If I were you, I'd be happy to get an offer in this market. If you have a whole class of associates coming in, don't expect to be making more than your peers.
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