Money Talks - Am I Being Fairly Compensated?
Posting anonymously for obvious reasons - have hit a point where I'm thinking about options both at and not at my current fund, and I'm still at a point in my career where comp really matters in terms of life needs and goals (savings milestones, paying down student debt). Problem is I don't have a great way to benchmark if my current/expected comp is fair or "market"?
I've always found talking to co-workers (both previously in IB and now in PE) about comp really touchy and pretty taboo. Being in LMM/MMM PE that has such a wide range of comp and comp structures make this even harder. How have people in this space approached these kinds of conversations, whether with co-workers or with senior people/HR? How have you been able to determine if you're being paid below your value to the firm (or worse, co-workers of equal title and experience) - how have you been able to advocate for yourself?
If you have a really good relationship with a headhunter (ideally not the one that placed you in the job) they could be helpful. Pretty easy just to say "considering opportunities both at my current fund and potentially elsewhere, but I'd like to get a sense for where I'm at compared to 'market' comp."
This definitely needs to be with someone you know well though. Headhunters can be kind of slimy but they have better market data than anyone else.
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