Pros-Cons of LMM PE?

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Pro: pay. Con: Ordinary deals and bro culture (not all). But I mean if you have done banking, you should be fine mostly. As long as comp is good, just go do it for 2yrs, get paid, and GTFO if you don’t like it. PE is always good to have on resume.

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Pro: typically get higher carry allocations which can increase long-term compensation. Deals are typically more nuanced and therefore more interesting. Typically easier to break into than other PE strata

Con: base salary and sometimes regular cash comp can be light due to low AUM corresponding to lackluster mgmt fee income. Often times teams are lean and organization is not set up well to scale with growth. Dealing with lenders can be a pain since professionalization of target companies is typically lacking

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These are all median figures - so yeah, $300k obv isn't the absolute max, it is the median figure for $10bn+ shops at the associate 1 title. Comp info is for 2021 and takes into account all the spin offs that can't afford talent and the borderline fake shops in the corners of the country branding themselves as PE and taking advantage of that stamp to underpay. Obv a name brand firm is going to be ~$250k+, but there are very few of those focusing on the lower middle market at a scale to compete on comp with bigger shops.

Not like I have a horse in the race - just passing on info from a reputable source to help cut thru the bias of people generally only reporting comp if they make high figures.

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