{ "media_type": "text", "post_content": "$170k base, 80-100% bonus and carry across all funds for PE portfolio operations. Reasonable or out of market?", "post_id": "6022968abcee420020395d4a", "reply_count": 14, "vote_count": 4, "bowl_id": "58f0df008ad7250010f8c590", "bowl_name": "Compensation" }

$170k base, 80-100% bonus and carry across all funds for PE portfolio operations. Reasonable or out of market?

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What level is this at and what is the fund size / AUM

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DMed you

Pretty good. I would haircut the carry based on your career plans - unless you are planning on a 5-7+ stint you likely will see $0 of carry paid out - so if it’s a short stop I would push for more cash

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Good advice

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Seems reasonable for someone with up to 4 yoe. Is this an ops role?

@OP how did you go about finding this role?

Headhunters reached out

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What’s your background?

How much of that 80-100% bonus is realistic given what current employees have been getting? You should investigate that. Carry as you know is long term and hence very hazy.

Let me rephrase. What I meant was the math isnt the hazy part - exiting an investment profitably in 5-7 years where the LP GP have taken their share and the waterfall dribbles down the totem pole to an Associate is the hazy part, because it could be an exit at many multiples of ebitda or it could be a giant goose egg or a big loss.....

Can someone explain “carry” and what that means/how that works in terms of comp?

Its much more complex and nuanced than my very very simple explanation here, but basically: think the limited partners gave the general part $100. The GP invested that $100 to buy and improve a company and then sold it for $500. That gain of $400 is the "carried interest" or "carry" that gets split up between the LP GP and other employees of the fund according to predetermined contractual waterfalls. Usually funds will hold on to investments for 5-7 years and then exit via various mechanisms such as a sale or an IPO etc. As you can imagine, for anyone in PE, base and bonus is healthy but the carry is the big kahuna. And it can be positive zero or negative (I mean they wont take money from you if its negative carry LOL but you get the point, you lose invested capital then)

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