Got an offer from a secondaries group in a PE firm in SF (<1B latest fund). Had 200 all-in comp in consulting (80%+ coming from base) and bumping up to 230 soon. PE firm is offering 120 base + 90 bonus for Associate position. Does this transition make sense if I ultimately want to become an investor / work in PE? Goal was traditional PE, but no luck there so far with interviews. Also not sure if offer $ is in typical ballpark of what you can expect in MM PE in SF?

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Transitioning from secondaries to traditional PE would be very tough

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Can I try to argue that consulting (working w companies to drive growth) + investing in secondaries would be a good combined background for traditional? Maybe +MBA? Thanks for the context tho v helpful.

That is market or slightly above for a secondaries associate from conversations I’ve had with recruiters in the space. Heard $180k all-in for a secondaries role in NYC. Secondaries pays considerably less than traditional

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Think the firm I heard about was second-tier, very possible better shops are paying more. I think a firm raising sub-1b funds to be paying $210k all-in is highly competitive for the space but I might be wrong - I didn’t continue with secondaries recruiting

Where are you currently? If in IB or MBB would hold off for a better offer

At a T2 consulting firm

What type of work did you do at your T2 firm? Also, what level are you leaving at

Leaving at the equivalent of Associate at Mck (2nd year post-mba equivalent role). Mostly do operational work, some value creation. Only 1 diligence and 1 corporate strat project.

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Continuing the POST (++)

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