Comp and raise sanity check: $10bn fund in NE (not nyc) 4 YOE including 1 in PE. Currently 120k + 100% bonus. First of all is this low, and second what’s a reasonable raise to ask for in year 2 associate?

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TPG 1st yr comp is 110k + 100% bonus, 2nd yr is 130k + 100%

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I don’t think that’s true at all / don’t think any of my buyout colleagues think so either

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Yes, that still seems low. Guessing you don’t get the carry yet at a fund of that size?

Thanks—seen it. Wanted to know if VP had additional color.

I'm guessing this is a $10B AUM fund in Boston? That feels pretty on-par to me.

NE not NY is probably Boston...

If this is audax please save your life and don’t take it

It’s a buy and build shop, meaning they do a lot of add-ons. If you look at the most active shops, audax is consistently at the top and it’s because they use a bunch of small tuck-ins to (1) generate cost synergies, (2) expand EBITDA from ~$10-20M to $20-40M, and (3) create a future growth story for the next buyer, which is many times another sponsor. And it works - I remember seeing one tech software / services deal a couple of years ago that I didn’t think was that compelling and still went for like 18-20x EBITDA. It’s a good firm, but as far as the associate experience goes, it’s a real grind.

Feels low for a $10b fund

I am a leader in a PE firm and going through something similar on the “other” side, and hence wanted to share this with the community.

If I have to be choose between you, a new Associate vs one of my existing ones, 9/10 I am picking an existing one.

Come in. Do a good job. Kick ass. And you will get paid much more handsomely than any consulting job in the long run.

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This has got to be Charlesbank.

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