Growth equity salary
Hi guys - I'm wondering what a good salary looks like for growth equity. I'm intereviewing with a growth equity fund sized at $2bn+. Recruiter says a 1st year associate role (which I'm interviewing for) would pay $210K (cash + bonus) Frankly, this seems a bit low considering this is supposed to be a really top notch growth equity fund. What's going on here? Is there a chance that some comp comes from carry - either of the whole fund or of specific deals you source?
Seems to be in the ballpark from what I've seen
Sounds about right to me as well, $2B is a good size, but not a huge firm and it's Growth Equity and not PE. You could maybe get to ~$250k all-in, but I can't imagine them doing too much more than that.
I haven't seen the final contract, but is there any chance of getting carry? Even smaller PE funds seem to pay more than 210K...
Doubt it, firm sounds too big for carry. How many people? Unless you're one of the first few associates there, I doubt anyone is getting carry before the VP level. Carry wouldn't be worth anything to you anyways as it would be unlikely you'd stay long enough to actually make any money.
There's a good Heidrick and Struggles PE comp PDF you can google and find which might help you out.
If comp is your only issue with the offer, I'd probably take it. You're not that below market and if it's a good firm then it'll be worth the learning. Unless you're also recruiting for and getting offers at Megafunds or Top Tier Growth Equity, ~$250k is going to be your max anyways. In my opinion, you'd be thinking pretty short term if you decide not to take this offer over ~30k a year.
If you think you can do better or aren't enamored with growth equity, then I'd push them hard for a higher salary and if that doesn't work out you can always decline it and keep recruiting.
sounds about right for growth
Right to me
That's literally right on the money. If you're leaving banking to go to growth for the money, it's not there lol (relatively speaking compared to IB).
If you're going for other reasons then go for it.
Is this accurate for firms like GA and Insight?
Not accurate for GA/Insight at all. These are on par with MF PE comp and Insight might be a bit higher b/c of carry/additional bonus at junior levels.
The difference between $210 and $250 in the context of your entire career is meaningless if you're lucky enough to be in this field.
bump, does anyone know what hours are like at MF growth shops and Insight/GA/TA?
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