I've received an offer to join a strong performing VC firm as a first year associate, but felt the comp was light. What would people say is the typical first year associate comp? Please breakdown for both base and bonus as well as any carry % (if any). As title states, the firm is located in a tier II/III city and has roughly $40-$75 million AUM across its funds.
I've enjoyed the team and work, but want to make sure I am being fairly compensated - especially in this market. Thanks in advance!
Interested
Honestly man, $40-75M AUM just isn't enough to pay people well. Thats like $0.8M-1.5M in management fees. Regardless of whether they want to pay you more or not, they simply cannot.
Are you able to give a compensation range? For reference, a friend of mine took an offer at a $750M VC with all in comp at $195k
Firstly, I appreciate both your reply and candidness. Yes, all in cash comp (base and target bonus) is in the $95k-$115k range with a small piece of carry in the current fund as well. I was fully expecting to take a pay cut (previously was in IB and currently in PE), but was hoping to at least be in the ~$125k range. I thought that was very realistic for an associate, but maybe not...
Is your friend's firm based in tier II/III market or is it NYC/SF/etc.? Thanks again for your input.
I was refraining from commenting because I don't actually have a real data point, but had typed out an answer about to say I think $100k is reasonable given AUM.
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