‘Target Bonus’ Variance

is this a bank or a fund? one typically sees a target at more stable (cheap) shops from a compensation standpoint. Think of the target as what you get when you hit/moderately exceed budget, nothing more. In a breakout year, maybe you get a little more than target but probably not. the upside is these kinds of places generally "take care" of you in bad years i.e. don't completely screw you, so >70% in bad years. just my 2c... 

I never had my target bonus dinged, regardless of portco performance or closed deals.  Would think less of it less like an IB bonus, which is much more variable.  This all assumes performance meets expectations. 

I don't know anyone who has gotten less than their target bonus. At my previous firm, getting your "target" bonus was actually a sign you needed to right the ship and/or start looking elsewhere. Average was anywhere from 5% - 25% above target, with one-off 50% years for truly exceptional fund/personal performance. YMMV of course.

In MM PE, you can earn your target bonus each year if you perform. That is, no marking to the curve BS etc.

50-100% of base typical for MM based on what I know 

From previous experience, it's totally fine dependent. I can tell you anecdotally that mine was >100% of target. That being said I think that number as a floor personally unless that's the shop culture of less meritocracy overall