Received VP offer from a $1B AUM growth equity fund. $300k cash compensation with a $1M carry allocation in their latest fund ($500M). Translates to 1% of the total carry pool (assumes fund 2x’s)

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I think D1 meant “congrats, that is amazing!” I laughed for a minute when i saw the response: clear and to the point, yet so many layers of complexity.

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Congrats OP! Can you share (in general terms of need be) the interview process and duration? Thanks!

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Would love to hear your background

Congrats OP! Amazing opportunity. Curious - is this in NYC?

Bay Area

I feel like this is so specific, they would easily be able to tell who you are.

So good! They now know they hired a smart candidate who does his/her due diligence.

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Does the carry hit at the end of fund life (also, how long is this, 5 years)? Do you have to put up capital or “buy in” to the carry or is it included in your comp?

Carry hits at end of fund life (6-10 years) to avoid clawback issues. There is a buy in requirement but some firms offer to subsidize it for new hires at no cost or a nominal interest rate

Congratulations OP. What line of work is this?, I'm IT and didn't understand one bit.

Is this a kind of job that someone who gets an MBA and pivots into M&A can reasonably get after a comparable YOE in this space as OP?

Sounds like you got jipped. I would renegotiate

Totally in line and competitive number - if you’re outside of NYC I’d say this is a great deal. Good luck!

20 points (1% of 2,000 points) in a fund is pretty good for a new joiner, even for fund that size. 10 to 40 points would be typical on a small fund like that. The portfolio manager is probably taking 200 to 400 points. The firm is probably keeping around 1,000 points (half the carry) for themselves

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