I had a friend come to me yesterday to strategize about his upcoming call to discuss compensation at a MM PE firm. The role is for an analyst and he'd be coming straight out of undergrad, but I have no idea what compensation should look like. I googled around and searched here, but couldn't really get a firm answer. Would 85 + 40 be fair? Should he push for a signing bonus? How much? It's in SF if that matters.
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Your friend should comp to a first year banking offer. The salary feels about right, I'll let others comment on bonus as I've been out of banking for some time.
For reference, all in comp my first year in IB was like 125-140k between base/bonus/signing bonus.
I'm not sure how much negotiating you can actually do, but if you are negotiating, obviously start 10-15% above what you think is fair so if you get walked down you're still in a good spot (and if they're ok with it, then cool).
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