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How hard is it to get carry and/or make partner at a PE firm? Does it pay more than MBB at non-partner levels?

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Dude, a decent sized PE firm’s Associate makes more than any consulting firm’s Associate

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I tripled my cash at my shop in US leaving Mck. And also have 500k in carry (expected based on bps). Level above me is 2m in carry. Won’t disclose shop. But UMM in US.

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MM PE associates make as much as our senior consultants (2-3 years post-mba)

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Carry gets paid out for above vp level at most firms. But some firms give senior associate carry. But vp level usually is 175-225 salary. 200-400bonus. 1-10m carry

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I got mm or umm numbers here

Does Ops team get any carry or are the above numbers for Deal teams only?

Is investor relations considered part of the ops team? Curious what an IR persons comp is like.

So the comp comparison should be between a undergrad joiner at MBB 3 years after graduation and a first year PE associate (also 3 years out of undergrad). A consistently top bucket performer at MBB will make ~250 TC in year 3. The typical benchmark PE associate comp at a UMM/MF is 300 TC with no carry in most situations. So if you compare to UMM/MF the average associate makes more than top performer at MBB. If you move to MM/LMM the TC overlaps a decent bit with MBB but as you get more senior in PE even at MM/LMM the comp should start to outpace MBB.

TL:DR - basically you have to be a rockstar at MBB to get paid remotely close to be average at PE. That divergence only get greater when it’s not even comparable at the more senior levels

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I think decent sized PE will always pay more for a LFL role. But, there are way more MBB partner seats vs. PE partner seats. I would view it as MBB makes everyone millionaires whereas PE make a select few tens of millions (hundreds if you’re a founder). It honestly just really hard to make apples to apples because of that dynamic. I know some MBB partners that clear $3-5m+ consistently every year. Will a MF PE clear that? Ya no doubt. But is MF PE infinitely harder to make. Yes. I think it just depends where you think you’ll survive. The upper mobility in PE is severely limited and usually people tap out at VP. Also PE is way more hours so hopefully they do make more or else it wouldn’t be as worth

No problem, just comparing notes - good to do regardless of level, firm or tenure

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