NYC Growth Equity Offer Check
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Hey nn408011, I think you deserve a response...heck, everyone does. We're listening, sorry about the delay ...my best guess at places on WSO that could help:
More suggestions...
I hope those threads give you a bit more insight.
Very strong offer for a fund that size, especially the base / bonus split. If you don’t take it, let me know…
I would be a bit more focused on understanding what the trajectory looks like rather than a single point in time economics.
If you’re coming in at a Sr Associate level and will have carry tying you up, you’re basically plotting out a career there.
If I were in your shoes, would want to understand how cash comp trends over time. How does carry allocation trend over time? What is the investment staff pyramid and is there growth headroom for you to take a meaningful role 10 years out? Hint: what will be your reason to exist there? Will need to carve out your own niche that is valued.
How old is the founder? Who are the rising stars? What has the track record been over multiple fund vintages? If a newer shop, how much do you believe in these guys? If an older shop, has aum been growing? If it has, is their specific strategy scalable or will it stall out at some point? Do you like the people, personally? Do they value the same things you do? If you’re an animal, are they animals? If you’re just trying to skate by and make a good living, are they cut from a similar cloth? If things go sideways for whatever reason, how marketable is your branding and experience?
None of that has anything to do with the ~400k total comp you’ll make this year between cash and carry. A long term career in PE is worth 10s of millions of dollars when done right. Focus on optimizing for the other 29 years of wealth creation/satisfaction.
Uhm. Where are you finding these jobs?
I fucking hate banking so much and im having a very hard time breaking into buyside; fuck even corp dev is hard now as people are viewing me as a career banker. Truth be told, I feel like I don’t really know anything having done this for 7 years.
Do you want to be there forever? Five year vesting is pretty insane...
Very nice offer otherwise though, especially for such a small fund. If you have a ton of conviction around their growth, it could be an awesome start to a long term career.
5 year vesting sounds right (assume its straight 20%/year), lines up with the investment period.
I read that to mean 100% vest on five year anniversary. 20% vesting each year would be great.
Wouldn’t the 5 years just be the time it takes the carry to crystallize anyways?
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