MM PE Hours/Pay
I’m at a MM PE shop ($500mm-$1bn fund size) and getting crushed… what are typical hours and pay for associates 1/2/3 at these type of firms?
I’m often working long weeks with frequent weekend work - the whole place is understaffed. There is a high hour floor since the portfolio company work is so intensive and the senior team have built a brutal culture and create so much work… On top of that, they didn’t pay out great on bonuses this year and neglected to raise base salaries at all.
Any data points / guidance would be helpful - trying to see if everywhere is like this and see if I’m being compensated fairly
At a similarly sized shop with what sounds like the same intense hours. Pay progession as follows:
Full year 2023 comp was 285k (135 + 150) - got stubbed for the initial 4.5 months i came in after banking in 2022.
2024 was $305k (150+155)
Think this is maybe a little above median for fund size, not really sure.
Thank you this is helpful. This is ~$50k more than I got, so it is good to confirm. Is there potential for upward mobility at your firm? Carry?
No carry as an associate, but was told Senior Associate promotion will likely come this Summer, then will get in the carry pool. Not really concerned with carry at this point, its such a grind that I'm just trying to at least be an SA for a year then will have to re-assess my priorities lol. The path to VP is pretty clear if I stick it out though.
This seems a bit above what other funds of this size might pay
which/what tier city is this
Ya would say this is above market by 25-50k
Our fund is a similar size. I think associate comp is $240 then $260 (50/50 base/bonus). Non NYC.
anyone know hig comp
Believe it’s 155 base and 120 bonus +/- 10k
290 plus levered co-invest for A1 excl sign on
My fund is slightly smaller $300-400mm, non-NYC
AS1 - 200
AS2 - 220
SA1 - 250
SA - 280
All 50/50 base bonus. Senior associate is not partner track at my fund and no carry. Hours are good, but underpaid and the concept of doing 4 years only to get kicked out before vp kinda blows
That’s Corp dev comp lmaooooo
You’re getting fully cucked bro… there is literally no point of that job. With that fund size it’s not like you’re going to unlock great exits , you said it yourself you’re getting kicked out, and also underperforming banking analyst comp
What would you say is market or fair comp for fund that size in tier 2/3 city?
Crazy comments. I don't think this is too far off for a $300m fund in a tier 3 city. That said, if there's no path beyond SA then i would wrap up your associate role then lateral
ASO 1 NYC - $260k for $900M NYC fund.
How has your experience been?
$1.1B Fund - MMPE - Associate 1 (NYC)
$125k base, $150k bonus
Rent: $3800 (roommate)
Spend a disgusting amount on my summer vacations every year, like 15k. I say this not to “sound cool” but rather highlight the unbearable suffering you experience in PE throughout the year.
Save about $80k cash give or take.
Genuine question because I think I’m missing something — could you say more on your decision to have a roommate ? $3.8k seems like more than enough for a studio on your own in NYC, is it because you’re located super close to the office in a particularly expensive part of NYC?
You’d be surprised - $3800 is not getting you much in Manhattan for a studio / 1br
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