Any thoughts on the pros and cons of the following situation would be great!
I am an ex-management consultant (3 years) with Ivy-league MBA and one year of IB experience and I was fortunate to receive an offer for an Associate position in a $1bn fund of a very well-known mega PE shop and an offer for a VP position in a recently closed fund (ca. $500mm) of a new PE shop.
Investment strategies of these shops are similar in terms of size, sector, region, control requirements etc.
Teams are of same size (5-10 people) and the MDs have similar investing experience and success (15-20 years and 20%)
In the mega-shop, I will be the most junior person in the fund, whereas in the startup fund, there will be two analysts below my level.
As per compensation, the mega-fund has not confirmed the base&bonus yet but there won't be any carry before promotion to VP (no less than 3 yrs). The startup fund offers $400k plus 120bps (vesting in 5 yrs).
Although I will not give my decision solely based on money, the startup fund's offer is quite exciting and I wonder what my chances will be in terms of base+bonus+carry in the mega-fund if we look at 5 years down the road...
Also, how important would it be to work at a mega-fund if I would happen to raise my own fund in the future? Does brand name matter more than your fund performance?