Money you get once you get erectile dysfunction ("Dicks Are Wrecked") 

 

It stands for “Dollars at Work.” Calculated as roughly the amount of pre-tax carried interest you would receive over the life of the fund if the fund returned a 2.0x.

CompBanker’s Career Guidance Services: https://www.rossettiadvisors.com/
 

A few follow-up questions here, would appreciate clarity

1) How long is the typical lifetime of fund these days? I guess it could depend but would 5 years be appropriate time from fundraise to returning cash to LPs, at which point I guess the carry payments come in?

2) Seems like funds are raising new funds every couple of years, so does this mean you can have carry in multiple funds at the same time before actually receiving any checks? How does this work?

3) Is there a vesting period on carry? i.e. let's say you have 1mm DAW in a fund that will start paying out in 5 years. If you leave for another shop in year 4, do you lose the ~200k carry you are theoretically earning each year prior to leaving? 

 

Question for the group - how long are you all expecting to be at the VP level before expecting a SVP/Principal/Director promotion? And if you already had the conversation with your partners, would be interested to hear what they indicated as the necessary "milestones" they'd like to see you hit by then.

I'm planning my next few years and just hit VP2. Hoping to have the milestones conversation with the partners sometime this month.

 

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