Am I making the wrong decision here? I’m currently a PE Ops VP making about ~$400k and + $1.5M carry at work per fund. I have an opportunity to switch the VC in a role that has a quicker path to partner and pays about $450 + $2M CAWPF. I feel like PE has more stability and prestige, plus I like my current company and team. However, I will likely get to partner in 1/3 the time if I make the switch (3-4 years vs 8-10 years).

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At your level, I don’t think prestige between diff industries matters anymore lol

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What on earth would an Ops VP do at a VC?

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This thread is full of people rushing to judgement with limited information

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Take the role. Regardless, you may be more valuable to both PE and VC firms with the experience you will get by diversifying your experience. Talk to you when you’re partner. 👍🏼

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Highly dependent on the VC fund and stage. Tbh I doubt your experience is as transferable to the VC portco world. If it’s something like insight on-site, then yeah it’s transferable, but early stage is likely different skill set. Either way, sounds like you’re killing it

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Would you mind sharing what sort of roles you did at those early stage companies?

I’m in PE Ops too - I have been a little disappointment by the lack of acceleration of my comp, curious how yours have changed over the years. But progression is something I’d take that into consideration too.

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What’s your comp look like, if you don’t mind sharing?

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What’s the VC fund’s size / focus?

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Seems your doing great already. Follow you intuition don't listen to anyone this is yours to take.

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FM1 - sorry, but your post is too long…in short, I am in PE now. Depends on how your firm sets up carry. DAW only works when capital is DEPLOYED. The firm may or may not grant you carry on deals before you joined the firm (they may or may not, depending on your role and seniority)

For example, if you are a VP with 400K cash plus 1.5M DAW, that 1.5M is out of the total fund size (let’s say 100M for ease of math). If that 100M isn’t deployed or done slowly then OP’s 1.5M is vested very slowly, basically “averaging out” their annual TC

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What’s the firm/fund size of these two? I am surprise that a VC firm can pay you more both in cash and DAW

Honestly I would take the shorter path to partner. I’m a VP Ops at a growth equity firm. It’s definitely a different motion than PE Ops where you control the business. Still fun and impactful, but much more of a delicate dance.

Feel free to DM if you want to go into more detail.

Hi, I am currently VP Ops at a business unit owned by a family office. I am curious about your path as I am very interested in working for a growth equity firm. Can I DM you as well?

Don't join

Something to consider: is all of your carry vested at this point / how much of your total carry points would you have to forfeit if you leave. That being said if you’re mostly vested in your carry points why not try something new and exciting and the chance to earn more on top of the carry you’ll still be getting from your old firm (from your vested points). You can always decide to go back to PE if it turns out the VC job isn’t what you thought it would be otherwise you’ll be diversifying your skill set and experiences to include different types/stages of companies and it could be a pathway to bigger and better things down the line.

I’m a little confused by your response that OP would not be making carry if deals are not being done. OP would continue to earn carry on existing deals that they have vested points in until liquidation of the fund at which point they would have received 100% of their total carry earned. Generally, carry paid is a % of carry earned based on where the Fund is in its life cycle and how risky the remainder of the portfolio is. There doesn’t necessarily have to be a dividend or sale related to the deal you have points in for more carry to be paid out, often as the fund matures the GP will pay out a higher total % of carry earned to its members that hasn’t previously been paid out. This is accomplished through GP catch up clauses where they are entitled to take additional proceeds on current distributions in order to catch the GP up to 20% of the total profits since inception (because they accelerated that money to LPs early on vs taking carry). No firm wants to ask GP members to pay back some of their carry because it paid out too much early on in the life of the fund and then things went bad at the end and it owes that back to the LPs which is why they take this conservative payout approach. Another small factor is total expenses are usually estimated when calculating carry and would have to be adjusted upon liquidation for the final carry payout. There will be a vesting schedule for their points but anything vested is theirs to keep upon departure and unvested points are forfeit unless they work out a special deal when they leave. For total transparency I have zero knowledge of how additional comp is calculated in VCs so if you were referring to that I apologize for misunderstanding you but hopefully people following this thread find this explanation of how carry works in PE helpful for their own understanding & I’m happy to discuss further it’s a great topic.

Thanks for clarifying, I’ve only worked with carry points in PE where you are awarded a percentage of total carry earned by the GP.

And the GP only earns carry when they do deals…no LP would give carry when GPs are sitting on dry powder

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