Thanks for the feedback
Appreciate the feedback. Post deleted.
Appreciate the feedback. Post deleted.
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Career Resources
I think you're getting a bit ahead of yourself. You should focus on learning the work and getting the best experience rather than comp. It's quite a bit different than banking and you're not just bucketed into bonus tiers, especially in MM. From my experience the high end of the bonus potential is much more difficult to hit (getting 90% of target is considered a knock it out of the park year at my fund).
Odds are you won't hit 100% of your bonus target, but even if you do I think you have little to no leverage to discuss a larger bump in base above what they dictate (usually increase is 7-10% over prior year). You can try, but at the end of the day you're a year in and likely will be replaced in a year or 2 anyway, so there's no reason for them to listen.
“Even though I received the 100% bonus amount, my bonus this year was less than my bonus last year as an analyst in banking..."
I could easily see partner responding with "Then go back to banking." It's not always about maximizing compensation, and no one likes someone who is counting every penny. I've heard numerous friends and former colleagues, in PE, mention that they are going to approach their superiors about a higher salary/bonus, and it very rarely works in your favor. As an associate, you're still a cog in a machine; there are hundreds of qualified individuals willing to take your spot for equal or less pay. You're not irreplaceable, lose the ego.
Thanks for the input guys!
As stated above, I am very excited about the PE opportunity and don't count every penny by any means. I don't have an ego and am very well aware of the highly-qualified talent / candidate pool competing for associate spots.
My post was more asking "is it appropriate?", than "pay me more money!" I don't have many contacts that have broken into PE so haven't gotten much insight on the industry in terms of comp advancement, which is a stark contrast to the more transparent structure of banking. Was just looking for some information and insight :)
Definitely appreciate the responses! +SB for each of you
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