Trending Content - Private Equity Forum
| +93 | Cognitive decline | 31 | 10h |
| +55 | Vibe-Working in Finance with AI ? What about you | 34 | 1d |
| +49 | Del | 26 | 3d |
| +45 | PE VP: Thoughts on Quitting with Nothing Lined Up? | 15 | 13h |
| +18 | Those unemployed in PE 3+ months, how do you make progress every day? | 1 | 9h |
| +18 | How do PE funds choose their advisors? | 8 | 1d |
| +18 | Acquisition Deal Structure: More Cash at Close vs. Smaller Equity Rollover in a Holdco | 3 | 4d |
| +17 | Is buyside worth it if most associate programs are 2 and out? | 4 | 5d |
| +13 | How Cooked is Software PE? | 1 | 3d |
| +12 | Indian PE Landscape | 2 | 1d |
Career Resources
Bump - interested
Bump also interested
Am in this boat. $280k cash (50/50), plus 50bps of carry. No GP commit, but the fund will lever coinvest if you choose. $1.5B fund size. I think my cash comp is a little below market, carry maybe a bit high
50bps of carry is pretty dam attractive. congrats
Super helpful, thanks for sharing. That’s a nice piece of carry!
Decent carry, particularly with no GP commitment
LMM PE ($1 Bn fund size) outside of NYC/SF - Senior Associate 1 (3rd-year post-banking) cash comp of $300k (50/50) with no carry. Pay isn't bad at all after "normalizing" for the hours (~60 hours per week on average), however, I am concerned that the gap with MM/UMM peers will widen if/when I am able to progress to becoming a VP.
Makes sense, thanks for sharing.
Senior Associate should be equivalent to VP, no..?
I'd say somewhere between high 200s and low 300s cash with potentially a small amount of carry is generally right for most MM PE funds. If your Geo is NYC/SF and/or the fund is a little larger, so maybe $1B+ recent fund, I'd expect a little more cash and probably not carry. If you're not in a major market city and/or the fund is smaller, I'd expect lower cash, but then you have more of an argument for more significant carry. For smaller funds, I've seen up to 100bps or so. On the carry piece, I'd do the quick math and figure out what the $$ amount looks like at a 2x and 3x return for the fund. Your carry package, if any, should equate to something between 250k to 1M. Annualize that out over the vest and add it to your comp and some of the LMM/MM packages could end up being pretty decent if you stay.
As with all MM PE comp, it's variable, but the above is the relative range you're probably operating in. I haven't seen too many figures way outside of those ranges. The bigger money and carry really comes at the VP title.
Given your reference to converting into $$ - what would be a reasonable range you’d be looking for? And how would that look like on VP level?
Also interested on how these numbers look at the VP level. Also, for places outside US, such as Australia, how would these numbers look?
Pg 10 on the linked 2021 report is good reference for comp across fund size / title. Total comp for associate/senior associate of ~$250-$300k for funds $2-20bn. Later pages touch on carry but it's a smaller sample size https://www.heidrick.com/en/insights/private-equity/2021-north-american…
Quaerat non non unde aut quis. Quas animi mollitia assumenda deserunt quis. Et aut temporibus necessitatibus quis. Explicabo temporibus quasi qui sapiente cumque rerum tempora. Qui eligendi repellat aut nulla. Qui autem placeat provident eius quasi corporis.
Sequi quibusdam quaerat nemo voluptatibus ut. Aliquid vitae et eos recusandae. Reiciendis ad voluptatem ipsam quae consequatur.
Et dignissimos alias fugiat. Porro incidunt sunt voluptas sed veritatis ducimus. Consequuntur sed illum cupiditate ut eveniet. Perferendis voluptas et aperiam harum voluptas sit.
Incidunt et occaecati animi. Ut aut at consequuntur tempora fugiat ex praesentium. Vitae non sit autem quod omnis. Iure voluptatum facilis animi eos. Voluptatem perferendis rem doloremque alias. Quaerat illo amet incidunt ex.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...