Given the recent increase in IB salary, what should I expect for firms with $1-3Bn AUM and investing out of a $500MM-1Bn fund? Any data point helps, can you break it down by base pay, cash bonus, carry or co-invest? And, how are bonuses determined in PE?
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Can be a really wide range depending on geography. I’ve seen as low as 200 all in, with the average being around 250-270. For context, offers I’ve received:
-100 base / 100 bonus
-100 base / 150 bonus + coinvest
but have also heard of 140 base 130 bonus
Can you explain how exactly does Co-invest work?
You generally put in $x amount of dollars and the fund will typically match it 1 on 1 loan generally interest-free (or really low interest).
Ex: An individual puts up $100k, your firm will also 'loan' you $100k. If the firm 3.0x MOIC your $200k stake will become $600k and then the firm will take back their initial loan ($100k) leaving an individual with $500k which is 5x of capital invested
Starting soon at a startup fund ($200mm AUM), got $120k base + undisclosed target bonus (they are buying out my AN1 bonus from my bank for $85k) + 75bps of carry.
We’re they covered by traditional HH / what geo is this?
CPI / NYC
What should I expect for a decent crave-out / divestiture shop that's like KPS or Sun Capital with ~$2.5Bn AUM and investing out of a $1Bn fund?
KPS has 15b of aum and 6b fund... not comparable
I'm referring to funds that have similar strategies like KPS or Sun Capital but are smaller. Read again.
Expect at least 125K + 125K or else you’re getting robbed. 150+150 is what I see for MM, but 500-1Bn fund size might make it a bit lower. Don’t expect carry, but my firm lets me put ~$100K coinvest but it comes from my own pocket.
What type of lifestyle should I expect?
I used to work in MMPE and lifestyle was pretty shit tbh. Averaged around 70 hrs but that would go up to 90-100 when deals got busy (typically ~3 times a year)
This is exactly what I heard for funds that actually generate 20%+ IRR
Is MF life worse? Would it be accurate to say MM is 70 per week vs. 90 on average at MF? I have to imagine most MM associates have considerably more weekend time to themselves, based on what I’ve read on prior threads. I’m heading to MM so am hoping to have far more free time
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Now that IB base for Analyst 2 is 125k-135k, should PE associate base at many firms be bumped above that range to attract talent?
150K Base / 150K Bonus - ~$2B AUM - West Coast
This seems about right for $1Bn fund and typically comes with co-invest and partner track. At least that's what I'm seeing from the small sample that I'm interviewing with.
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