Equity Carry in REPE
I am an associate at a small REPE firm on the west coast (500AUM, should be closer to $1B by end of the year). My current comp is $80K plus $5k bonuses for each close, and we are set to make 4-5 closes this year. Additionally, I am told that I will be getting a promotion within the next 1-1.5 years. I am currently negotiating equity carry that is included in my offer, but I am not really sure how much I should be looking for. We are very small. only two on the acquisition team (including myself), and the founders are VC and FAANG higher-ups. The firm is treated somewhat like a startup due to the founders career path, and there are a ton of moving parts as we are expanding employment and winning bids on deals.
How do I determine a starting point for negotiating equity carry, especially with a young firm? The carry is a 1-year vest and is on a per-deal basis, not per fund. This is nice because we have some deals we are working on that are only 5-year holds, rather than 10 years. Anybody have any insight into what other firms offer associates/director level for carry?