Performance Based comp for PE Intern -- Bullshit?
Hey guys. I'm an undergrad and I recently saw a LinkedIn posting for a private equity internship for a spring/summer intern. One thing that caught my eye is that the compensation is "performance-based" and the fund promises at least 100k to be paid for every closed deal "that originates from the intern's strategy". It seems ridiculous that any firm would pay 100l+ to an undergrad intern. Is this just a way for them to get away with not paying their interns?
It sounds sketchy. My guess is that they’ll have you sourcing, and in the (very unlikely) event that you personally source a deal that closes you will get the 100k.
Ask for base salary...
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