Starting Career in MF IR, good or bad move?
Will be working at a MF FT on the IR team after graduation and would love to hear some opinions on this. Thanks.
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I mean if you want to work in investor relations then yeah, great move. If your goal is to become a PE associate, not really no.
Will comp vary a lot in senior levels between PE investing and the IR team? From what I understand carry is offered to both
Yes, comp will vary (IP >> IR) at every level... people who are bringing in and executing deals are the ones making the big money at these firms, they are the profit center. IR is not, it is a cost center just like tax and compliance but in a more client-facing role. The senior IR folks might get carry based on the amount they're helping to raise for new funds or however they quantify success in the role (I genuinely have no idea), but anything they do get will be miniscule compared to what's allocated to investment personnel. It can obviously vary widely by fund, but people from Sr. ASO/VP/Principal and upward on the investment side can earn/be allocated carry on a deal by deal, fund, or general partnership level. For IR I would be shocked if anyone outside the partner/MD level receives anything resembling carry, I would expect it's a simple base + fixed % bonus for all other levels.
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