How to Structure Comp for Sr Analyst Position?

I am considering joining a fund for what I think is a unique opportunity, but I'm not sure how to think about comp as I don't think its very straight forward.

A 1-5bn fund wants to grow their smaller credit business into liquid distressed, cap structure arb, other special sits and at the moment does convert & merger arb. The current PM has experience in the latter, and I would join as a senior analyst building out the former side of the book. The credit portfolio is currently internally funded and small (100mn), but they seem serious about wanting to grow it. The firm is a mix of HF & 40act money which is how credit would be structured as well.

I'd like to be better prepared on how to think about a good comp structure to discuss. I know it'd be base + bonus, but I think there should be an additional incentive via equity or some other consideration where I can get paid as the business grows. Given that this will not be strictly performance fee based money I want to insulate myself from the risk that the platform never takes off and I'm stuck with only a base and low / no bonus pool if possible. What would a fair base and total comp look like? For background, I have three years buyside experience (didnt do banking) in the same strategy with idea generation responsibility / fairly autonomous with DD & processes. I think I could do a good job in the role, and while I think I am a little young for it personally see it as low risk / high reward and a shot at leap frogging the next couple years in a more traditional seat.