Need advice: Accept MM PE offer or recruit next year
My boyfriend just got a middle market PE offer and is debating whether or not to accept. What he really wanted were the Tier 1 upper middle market but never got interviews there because of the headhunter process. He's turned down a couple lower middle market offers but recently got a pretty good one (I think). They don't pay too well apparently so it's giving him a bit of toil. He's considering passing and waiting to recruit again next year.
I guess one of his questions are his chances of getting back into a upper mm after b. school? Any thoughts or suggestions?
Thanks a lot!
What's his background?
BB investment bank outside of GS/JPM/MS
As a young person, he should be focusing on the experience he will be getting rather than compensation. I would rather take a $130k opportunity that provides a better platform, story, experience than a $200k job. Be good at what he does and the compensation will take care of itself in the long-run.
How big is the fund / what is the compensation?
Think the latest fund is roughly $2bn and the comp is under 200k all in
Comp doesnt sound all that bad. How much under 200k we talking?
My guess is this is a Riverside or HIG level firm. Both are pretty solid options IMO, and I've definitely seen people jump to larger shops afterwards.
That said, from my personal experience, I do think this is probably still relatively early in the process, and if he's looking for an upper MM/megafund position, things will inevitably come up if he has good headhunter contacts.
I'd tell him to go for it. Worst case scenario is he goes to b-school and gets recruited to a larger fund after. Latest fund being $2b is still respectable -- it's not like we're talking comparing a $600mm fund to a $3b fund
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