VC Associate Offer Review
Hey guys got a VC offer after grinding to break in for years (went to PE after my IB stint) and wanted to get thoughts around the quality of the offer:
210K base
20k Signing bonus
30% Target Bonus
$1.25 Million carry dollars at work (Assuming 2x on $450M Fund with upsize if final close at $500M Cap)
The role is completely remote, I will be based in NYC but there is an emphasis on traveling and building relationships across the country.
Would love to hear thoughts on the offer. I feel good about it but want to make sure its market or if I should negotiate further. Also happy to answer any questions about process etc as it is an absolute grind to break in.
Thanks All!
This is a strong offer. Seems like a senior associate offer though, considering carry is relatively material. I don't know many shops that offer carry to associates
Could you please list more details about the fund (to the extent you are comfortable) around mandate, reputation, etc.? This is a pretty remarkable offer and I’m looking for something similar post-MBA. This would be a good comp.
Some figures below for post-IB associate comp -
If it's top later-stage venture growth, it's about market. I'd target $350k all-in for a larger shop like BOND, IVP, ICONIQ, GC, Coatue, etc. (cash base + cash bonus + carry will vary firm by firm, have seen $0 carry to $1.5MM over 5 years for fresh associates). If it's earlier stage (Emergence, Redpoint, etc.) this is above anything I've heard - market for earlier stage associates seems to be ~$180 - 220k all in (*super* variable on cash vs. non-cash comp).
Is the 180-220k just the cash comp or does that figure include carry as well?
All-in - early stage substantially lower than later. Think this makes sense though, lots more $$$ to go around investing out of a $2Bn fund than a $500 - 1Bn fund with a similar team size.
Fund is pre-seed to series B. Want to keep my anonymity though so don't want to give away too much. Feedback from friends is that it's solid given it's more early stage. Thank you all for the feedback as well!
Agreed solid in that case. Congrats on the great offer!
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