What's average pay and carry for the first associate of a new fund?
Interviewing for a new tech fund starting in a tier 2 city (think Boston, LA, Miami so still higher COL). They are interviewing for their first associate hire, it’s a diligence focused non-sourcing role. What’s a good carry % to be allocated and pay for a new firm?
Just promoted to associate in Dec at a LMM bank so don’t know too much about PE pay or carry allocation %’s.
Understand they can’t afford MF pay but given the first associate role will most likely be a lot more taxing on the admin side as well, what’s a good pay and carry % to expect?
Couple of questions so I can give a more accurate answer:
Fundless for now raising deal by deal but heard the first fund will be anywhere around $250M-$500M
Yes it would be just me and 2 partners
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