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April 30, 2024
9 Free Financial Modeling Lessons
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Depends on both the fund and the seniority (which I’ve found to impact the math more).
juniors: almost always 100% cash, up until you get to mid/high 6 figures
mid career: about 60-70% cash, the rest some form of fund investment or deferral
senior: I’ve seen anywhere from 15-50% cash the rest deferred/equity/etc (more for partners, depends how you value that).
A lot of the bigger shops have brutal non-compete's and clawbacks. Buddy of mine at Elliott has 100% cash comp but vests over 3 years, you literally owe them a check for prior bonuses if you ever leave
I’ve only seen vesting of bonus as pay schedule (I.e. pay X now, rest over Y years) not as clawbacks.
For this example, and maybe it's the only one, its a broad non-compete with a clawback over last 3 bonuses
That is a lotta legal work to put the fear in you. Why even give the money if gonna claw it back so fast ha. 70/30 most common I seen, 50/25/25 as well.
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