Am I underpaid? Associate earning $200k/year in Boston

Apologies in advance for the clickbaity title. I'm a 1st year associate at a semi-large PE shop ($2bn+) located in Boston that focuses mainly on secondaries/co-investment opportunities. As you can see from the title, I'm expecting to make around $200k this year ($150k base + 30%+ bonus). I'm curious to hear from others working in similar roles what an expected comp range/structure may be and if my firm is paying market. Thanks

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Comments (14)

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  • Analyst 2 in IB - Ind
Jun 6, 2020 - 9:36am

HarbourVest for sure. They're known to underpay and frankly it's likely because they barely charge fees. I'd gtfo

  • Analyst 1 in IB-M&A
Jun 6, 2020 - 9:52am

I might be remembering incorrectly, but don't 1st year associates at other secondaries like Lexington/Coller/Alpinvest pay ~$240k? Something like 120k base and 120k bonus. I think 2nd year associates are like 130k base and 130k-140k bonus or something like that. As you can see, bonus is at or above 100% the salary, so I feel like you're getting screwed.

Although your base (im assuming at Harbourvest) is high at 150k, your bonus seems extremely below market. This could also hint that your carry will be shit if you progress at the firm. However, I did hear Harbourvest only works ~50-55 hours a week vs 60ish at the other places? Could someone please verify my numbers?

  • Analyst 1 in IB-M&A
Jun 10, 2020 - 1:26am

Got a buddy at a top secondaries shop in NYC that is much larger than harbourvest. Pay is in line with MM/UMM PE shops, 125k base and 100%+ bonus for first year associate.

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