Secondaries - Career thoughts?
I am a 4th year at shop focused on direct secondaries. Joined straight out undergrad. I just got a raise, in addition to an increase to my bonus % and being offered carry (minuscule %). This offer is still below market. The firm has also promised me career advancement and another bump with the raise of a new fund. The downside is the timing of the next bump.
I have the opportunity to join a leading LP secondary firm. The offer would be comparable base and 100% bonus. Career advancement seems to be limited at it is a structured pre-MBA role. Rarely is this circumvented. The upside would be an excellent name on my resume for MBA program applications or to apply for the best firms in the direct secondary / LP secondaries space (the latter, may be more difficult due to the complexities of professional/personal relationships that may develop at the leading LP secondary firm).
My problem is that i) I don't know if I want to stay in secondaries or go to direct PE ii) pursuing my MBA seems to be the most logical option, but it is a very expensive one and I feel as if my career is already behind, constantly trying to catch-up.
P.S. Curious to see what people think a 4th year should be making at a shop with ~AUM $500m.