{ "media_type": "text", "post_content": "Need some advice on a role, PE ops role (Associate so it’s a title lower) with $150k base, 50-75% bonus and 1% carry in the two funds ($900M-$1bn each). Currently making $165k but much smaller bonus so total comp would be around the same (assuming 50% bonus). Is this a good opportunity? Unsure how much to expect from this sort of role and how to value the carry", "post_id": "6052265f2db957001b504a40", "reply_count": 28, "vote_count": 7, "bowl_id": "5b7c3919448e9300186d3deb", "bowl_name": "Private Equity and the Buy Side" }

Need some advice on a role, PE ops role (Associate so it’s a title lower) with $150k base, 50-75% bonus and 1% carry in the two funds ($900M-$1bn each). Currently making $165k but much smaller bonus so total comp would be around the same (assuming 50% bonus). Is this a good opportunity? Unsure how much to expect from this sort of role and how to value the carry

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1% carry for an Ops associate role? 🤯 You sure it’s 1% and not 1bps?

likefunny

I’d go 50 titles lower for that salary

like

Willing entry level analyst right here

1% carry is worth about $2m in each fund assuming they return 2x. $4m is really good no matter how you cut it.

likehelpful

$4mm of carry dollars at work across two funds (presumably with one likely to pay out in the medium term) seems like a pretty attractive offer IMO

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Agreed cash comp doesn’t align

likesmart

1% carry is really good

like

Pretty solid overall, I would expect 450-550k cash at VP level so this seems in line. The one big watch out on carry is that in most funds you will only receive points in deals done when you are employed - so if the first fund is 80% invested already, you’re only getting carry on the remaining money to be invested. Chances are he first fund is worth very little - since they are already investing a second fund the first one should be in harvest mode

likesmarthelpful

What’s the job description for this ops role? Ops can be many things

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And will not be eligible for carry for a few more promotions

Firstly congrats on the role, what’s your exp/ background? How would you advise on searching for this type of role/what did you search for, as I rarely if ever come across ones with these salary metrics?

like

So, your in year cash is the same (at a minimum, if not a little more) and carry is the cherry on top. Why wouldn’t you take it? The only input is whether your current TC will jump from 165 to 200 or 300k in a short time that will “eat” into the carry. Note that pay raises in PE is typically lower and slower than consulting

likesmart

That’s a good offer

like

What firm are you at right now ?

Is the base that OP is getting usual for associate level? How does the base, bonus,carry increase with levels ?

Check out the Heidrick report. From what I remember, not all Associates get carry. In fact, it’s more of the exception than the norm. The cash component is inline.

So you don’t get carry at current role?

Are you sure you're just an associate

I think OP is a consultant, so probably not

Newbie here - how is carry calculated ?

Your impressions are incorrect

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