Got a stub bonus this past fall so 2021 is my first full CY. Offer letter had a target bonus amount but am trying to understand how much variance I can expect.
Let’s say that target was $100K, what might be the low end and high end of the range?
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is this a bank or a fund? one typically sees a target at more stable (cheap) shops from a compensation standpoint. Think of the target as what you get when you hit/moderately exceed budget, nothing more. In a breakout year, maybe you get a little more than target but probably not. the upside is these kinds of places generally "take care" of you in bad years i.e. don't completely screw you, so >70% in bad years. just my 2c...
Thanks! This is at MM PE fund. Love the username btw, there are few from the old internet that remember that reference.
I never had my target bonus dinged, regardless of portco performance or closed deals. Would think less of it less like an IB bonus, which is much more variable. This all assumes performance meets expectations.
interesting. i'm guessing i've just worked at some sh*ttier places than you
I don't know anyone who has gotten less than their target bonus. At my previous firm, getting your "target" bonus was actually a sign you needed to right the ship and/or start looking elsewhere. Average was anywhere from 5% - 25% above target, with one-off 50% years for truly exceptional fund/personal performance. YMMV of course.
In MM PE, you can earn your target bonus each year if you perform. That is, no marking to the curve BS etc.
Any thoughts on what the range might be on the upside if any?
50-100% of base typical for MM based on what I know
Thanks! Super helpful
From previous experience, it’s totally fine dependent. I can tell you anecdotally that mine was >100% of target. That being said I think that number as a floor personally unless that’s the shop culture of less meritocracy overall
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