Top Growth firms comp out of undergrad

Just wanted to get a thread started on comp at the analyst level (out of undergrad) for growth equity firms. Seems like it is asked a lot so an organized thread would be very useful. All of this is from previous threads/online. Please add more in the comments if you have information or if my reporting is wrong so I can update.

Insight Partners: ($85k base + $75k bonus + $10K signing bonus)

Lead Edge: $100K base + $75K bonus + carry (up to $220k)

JMI Equity: $125K

Spectrum Equity: $90k all in

Volition Capital : $90k all in

Kayne Anderson: $115K all in

Private Equity Interview Course

  • 2,447 questions - 203 PE funds. Crowdsourced from 750k+ members
  • 9 Detailed LBO Modeling Tests and 15+ hours of video solutions.
  • Trusted by over 1,000 aspiring private equity professionals just like you.

Comments (65)

  • Intern in IB - Ind
Oct 30, 2020 - 10:03am

Have read somewhere on here that the MF Growth arms pay in line with the PE analysts/associates. 

Learn More

300+ video lessons across 6 modeling courses taught by elite practitioners at the top investment banks and private equity funds -- Excel Modeling -- Financial Statement Modeling -- M&A Modeling -- LBO Modeling -- DCF and Valuation Modeling -- ALL INCLUDED + 2 Huge Bonuses.

Learn more
  • Prospect in PE - Growth
Oct 30, 2020 - 12:26pm

Could you give us a figure so we could update? The $175K-$200K figure is from a recent thread

Oct 30, 2020 - 12:32pm

I know that base is less than 85, i think its 80, and with bonus i think could be all in around 110, as you mentioned though carry can be huge, depending on if you source a good investment can be almost 2x your annual take home, depends on tons of outside factors though so obviously dont bank on it

Most Helpful
  • Intern in IB-M&A
Oct 30, 2020 - 12:49pm

Know someone going there as well. Due to the most recent fundraise (added $1b to fund which is now at $3b) and small investment team, they've increased base/bonus. Base is 100k, bonus is 75% I believe. There is also phantom equity. 1st year all in can be upwards of 200k.

Oct 30, 2020 - 9:56pm

Carry is the 20% of profits that the GP gets. That carry is split among the mid-level & senior investment professionals.

To make things simple, assume a fund makes $100M of profit (excess return). 

1. The PE firm would get 20% of the total profits, while the LPs get the rest. So $20M remaining. 

2. Now assuming that a VP has 1% carry, the VP would earn $200K ($20M * 1%) of carry from the fund. 

3. That $200K is subject to various vesting schedules and terms, so you're unlikely to get it all at once. For example, it could vest over 5 years, meaning the VP will be paid $40K in carry every year for 5 years from that fund. 

The actual carry pool and percentage of carry for an employee will vary from fund to fund depending on size. 

  • Analyst 1 in PE - Growth
Oct 30, 2020 - 1:17pm

Lead Edge giving carry to analysts sounds suspect. Don't believe that 175-200K number at all...I'm at a MF growth arm and making 160 all in first year 

  • Prospect in PE - Growth
Oct 30, 2020 - 2:24pm

I've seen several threads stating Spectrum is $90k all in and no one has debunked it. Volition is based on old threads but glassdoor gives the same figure. 

  • Analyst 2 in IB - Ind
Oct 30, 2020 - 6:56pm

You sure thats inclusive of year end bonus? 90k all in could be base + signing

Nov 5, 2020 - 2:44pm

Regarding the above mentioned GE funds, when is it realistic to get carry? After the 4-7(b school?) years it takes to make VP? 

“How do you measure yourself against other golfers” “By height”
  • Analyst 1 in Consulting
Nov 6, 2020 - 10:31am

Pretty sure battery ventures also similar to Spectrum analyst pay

  • Intern in IB - Ind
Nov 12, 2020 - 8:08pm

it's at least 50% sourcing at all the top group equity firms at the analyst level. You generally get to work on the deals that you source, so there's already incentive for that. Sourcing is definitely more than cold-calling tho, it has to do with understanding your segment well and maintaining relationships with all the top prospects in the market. I think Summit is smile and dial tho, so basically a call center. Would avoid that. 

  • Analyst 1 in PE - Growth
Nov 12, 2020 - 9:30pm

Mostly cold-calling and emailing. Once you get a meeting set-up with the founder/ceo, you would ask about the story, operational metrics, valuation, strategies, what you would do with funding, etc. It's actually quite interesting as you get to talk to company management, ask the important questions, and make the decision if you should push it to the VPs/Partners to do further diligence. Most of the work is sourcing at the entry level as "Intern in IB" mentioned; however, if you source the investment you are a part of the full due-diligence process (valuation, operational work, business dev, etc) and there is a potential to get a board seat if the company is small. Source: interviewed there and know someone. Regarding pay - the team is ~15 investment professionals managing around $3b, hence the higher comp. 

  • Prospect in IB-M&A
Nov 12, 2020 - 11:11pm

Any recent numbers on Iconiq? They tend to have a decent sized analyst class. Also heard it's hella sourcing

  • Intern in S&T - Other
Jan 22, 2021 - 1:15am

What's the breakdown for Kayne Anderson ? 80k base + 35k bonus ?

Start Discussion

Total Avg Compensation

July 2021 Private Equity

  • Principal (7) $694
  • Director/MD (18) $575
  • Vice President (66) $368
  • 3rd+ Year Associate (68) $270
  • 2nd Year Associate (137) $254
  • 1st Year Associate (276) $224
  • 3rd+ Year Analyst (25) $160
  • 2nd Year Analyst (61) $135
  • 1st Year Analyst (177) $118
  • Intern/Summer Associate (19) $70
  • Intern/Summer Analyst (209) $58