What is average market pay for an Assc. at a $1B+ MM fund in a T2 city?
Think hubs in Texas, South Carolina, Florida, etc.
Currently making <$70k base, no guaranteed bonus structure and just a few bps off of any deal I manage to source (I'm both execution and sourcing). $1B+ MM fund that has us working avg. 70+ hours a week, almost always some weekend work. No real benefits, just a small health stipend. I came from a non-IB background so I assumed a pay cut was reasonable but when I do the math my hourly earnings are barely cracking $20/hr which seems a bit unreasonable. Comp discussions coming up soon so I figure it might be time to broach the topic of at least getting to the street average unless my employer tells me to my face I'm a below average employee which I'm certain I'm not.
What is a good way to approach the conversation w/ a supervisor?