I currently work in NYC for a debt fund team ($3-5b AUM). I’ve been with the firm for 3 years. Expecting all in comp around $160k-$180k for 2022. My boyfriend just got a PE offer in LA. I decided I want to to make the move to LA with him this summer, which shouldn’t be an issue because we also have an office there, but I’m wondering if I should try to level up because I know I’m under-compensated. I’m debating between 1.) switching to REPE in LA 2.) working for another debt fund or getting another debt fund offer and using it as leverage for a raise. I want to be making $250-$300k all in. Is that too much of a reach goal? My goal long term is to start my own fund, so I’m leaning towards REPE route to round out my experience, but I hear the market comp for private credit is high right now but I haven’t really started any formal recruiting yet. Any thoughts? Also are there any firms in LA I should check out?
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$300k for 3 years of exp is tough in my opinion. $250k should be doable but also a reach depending on firm. I interviewed for a couple debt associate roles on the west coast that were $225k. I think that should be target with $250k as reach. Comp keeps going up from there so no need to sweat $25k
Thanks, this is helpful. For those opportunities, what was the base range and bonus%?
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