If you guys could take a $50k paycut per year (Yr 1: 300K, Yr 2: 330K, Yr 3: 360K) to work at a grindy PE shop (70-80 hours a week of constant work, ton of responsibility) but know you'd have a guaranteed promo to Principal, would you take it? Assume the chance of promotion otherwise is 50%. SBS included.
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This sounds like a no-brainer. Long-term greedy.
Easily
Yes but those hours sound pretty bad
If it was just a pay cut for promo, I’d probably do it. But since it’s pay cut for promo AND terrible lifestyle I wouldn’t do it. The snuck premise in making a long term bet is that you will see it through to the end, but if your lifestyle gets worse and you burn out then you won’t see it through to the end and it was fundamentally a bad trade.
Are you getting promoted from Associate to Principal (no VP title Id assume), or from VP to Principal? If former, 100%. If latter, I would also factor in carry performance. Or are you saying
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