VC Compensation??
What is typical pre-MBA compensation at a VC firm in a major market (e.g. SF, NYC) after two years of IB or consulting? Looking for information about typical base salary, bonus, carry etc
Google VC compensation reports. There have been several reports out in the last year. Can start with Johngannonblog's comp reports and then look at the others to compare.
ignore title, 2nd year vc associate after standard analyst stint. Currently making $190k base / 80k bonus, no carry (imo carry at jr ranks is overrated, would rather have cash given there's a 90% chance you won't be there long enough for any meaningful vesting or distributions). hours are 50-60 / week
Can you talk about the recruiting process? If I’m a second year currently is it too late if I’m targeting VC for Summer 2024?
No it’s not. There’s plenty of ad-hoc recruiting for VC especially for internships. Some strategies to go about getting in for summer 24: John Gannon blog. Apply to every internship on there. I’ve already taken a VC internship for this summer, but ff vc opens this month and it’ll be posted on there (would’ve been top of my list if I hadn’t already taken a better offer). Second, scour linkedin for 10-100m AUM VC firms that look like they have taken interns in the past. Reach out to an asso/vp or even MP if the firm is small. Be willing to be unpaid. I decided on this fall of my junior year I wanted to do VC. Took an unpaid position this fall, and now I’m working for a top decile fund, highly paid, and over 2B AUM this summer. Have to get some experience on your resume in VC whether it’s paid or unpaid. I interned at Starta VC this fall. They’ll take anyone with a pulse but it’s unpaid. You should check them out if you have no prior VC experience. Also check out Blossom Street Ventures out of Dallas. Email the managing partner (email is on the website)he’ll get back to you same day. Good luck my friend.
Edit: BSV managing partner’s email might not be on the website. PM me if you want to talk further
sorry I should've specified i'm a second year IB analyst at the moment looking for opportunities for this summer lol, but your post will be helpful for other prospects
Gotcha lol. I'd still say that these principles apply to your position though. Cold email/linkedin, John Gannon blog, target funds that have hired individuals like yourself (couple years in banking before joining the fund), show them you bring something to the table about VC ("saw you invested in ABC.ai's series A in January, if your looking for more companies like this check out XYZ.ai" something like that), and unless your coming from GS/MS/JPM (maybe you are) I'd target funds under 500M AUM or so.
Last point I'd reiterate is that there's no recruiting timeline for VC. They hire at an at need basis, so don't worry about finding something on a fixed timeline, opportunities arise throughout the year. Stay at your banking job until you land an offer in VC. Just my 2 cents after all I am an undergrad but I'm regurgitating stuff here that many people in the industry have told me.
What shop is this? Can I PM?
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