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What does comp look like for PE ops associates?
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The two ways to think of it are by percent and $s DAW. $s DAW is the way I prefer to look at it because it gives you the most apples to apples comparison across funds and firms. I would focus on that
I would pay close attention to what MOIC they are tying the DAW to and the vesting schedule on it. That will help you compare it across different offers and to determine how much you’re actually getting on a yearly basis
The DAW$ is typically based on a 2x return on the fund and then your take rate, but it’s worth asking what fund return it’s benchmarked to. Actual carry will depend on how the fund performs so there will be some +/- but it could be non linear on the downside.
It can also be offered as an annual DAW contribution to pool into the fund (vs upfront DAW)… beneficial if you join or get promoted mid-fund, but longer vest cycles.
Wha is typical daw for new vp
50bps out of 20% total firm carry after 2x’ing the fund is a good start but it can vary on all 3 factors depending on the fund.