Turning down major fund for boutique?
Hi monkeys,
Senior associate here facing a dilemma. I got a big offer from a prestigious fund down in Jacksonville. They want me to be VP
They offered me a big package (think 15 million, 10 million, 5 million) but the deal is I have to work there for this decade?
Is it worth taking, or should I go for a boutique with more autonomy or start my own thing and grind?
On one hand, its life changing amount of money (it's in the millions) but part of me wants to start my own thing.
Appreciate yalls advice.
I knew a buddy who got a MF UMM PE offer and turnt it down to start his shop. We all thought he was crazy, but he was so much younger like
“prestigious fund down in Jacksonville”
Not often I come across an original sentence
it was a big fund tho
Warren Equity Partners is down in Jacksonville.
If there’s another one I’ve never heard of it.
Never heard of that one either so ¯\_(ツ)_/¯
What vp is getting a package of 5-15mil at any fund?
Ones who wanna grind from the rap
He's more than likely quoting what the potential value of all his carry that would vest over the period would be assuming the rosiest possible outcome. Nobody is paying a VP even half the bottom of that range that in pure cash comp. Given he said Jacksonville it pretty much could only be Warren Equity who closed a $2.6b fund in July. If it's 5m DAW which is certainly high but isn't outside the realm of possibility with a fund that size, a 2x would be $10m, 3x $15m, etc. That's IF they hit those returns and he stays in the seat long enough for all of it to vest.
Pshhhhh, I turned it down
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