Thoughts on VC Offer in London?
Hi team - received an offer at an early stage VC fund in London. The base is £80,000 with a £2.5k sign on bonus. End of year bonus ranges from 50 - 75%. It's a slight pay cut considering I'm coming in from a BB as an A3 (£85k base), but I was also expecting worse considering the WLB increase and the fact that it's an earlier stage fund. Thoughts?
You're not giving up much, that £5k won't make a difference over the long term. Have seen lower base for assoc level at early stage VC. Does the firm not offer carry?
Thanks and agreed on the base w.r.t other early stage VCs. They do offer carry, but only at more senior levels (not for Assocs) - not clear how much though
If your wlb improves from your current role, and you see yourself in VC over the long term (or working at a portco/startup) i'd say go for it. Consider that exit opportunities will be very limited. Which fund is it if you don't mind me asking (feel free to dm)?
Thanks, that's helpful - I'd rather not share the fund's name at this stage (can share at a later time once everything is signed and I've started). Regarding the exit opportunities - surely it's possible to move to other early stage funds and potentially a slightly later stage fund down the line a few years (series A / B)?
What is the AUM?
Is that an associate role? If so you should probably think of it as a cut to ~£120K (asso1 base) + bonus rather than to you your analyst base. Still, 50-75% bonus is frankly very good in early-stage VC if they can promise that. Your lifestyle will in any case be amazing and sounds like a good deal in general. Also yes, with your banking background it should be easy to move to A/B from there (why not even later when the market recovers) if that's what you want.
Yeah it's an associate role, but the firm doesn't seem to have any analysts (only hires directly to associate with a few years experience). Thanks, that's helpful and agreed I feel pretty good about it
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