Thoughts on comp from those in the know? Considering an offer to join a mid sized asset manager, $30bn AUM as a funds / PE transactional associate. Im an 8th year at a v5 (10 years out of law school). Total comp = $450 (300k base, rest bonus). Hours per week likely 50-60 (working way more now). They offer great 401k matching but they don't increase the base (or even likely the bonus) every year. Is this a decent package? Should I hold out? I am the breadwinner and have 3 little ones, for context

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You'd be making big law money working 50 to 60 hours a week. I assume this isn't even a real question and just some weird humble brag. Attorneys are the worst.

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Honestly, the only way you might make more in the immediate future is to make partner at the firm.

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The base actually sounds pretty generous. 7th year and have interviewed with large asset managers. No one I know pays above $250K-$275K. You could definitely hit 600K in good years. Of course given your situation the variability in comp isn’t ideal but that’s just how funds work. Good luck!

PS. The bonus component does appear to be on the lower end so you should definitely discuss how that is determined. Funds usually offer 50-100 percent bonus; so this is deffs the bare minimum.

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Depends on the type of Fund and your role. You won’t get that doing Fund formation at Blackrock but you will if you were at the deal desk at King Street. So it’s all role and fund dependent.

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Wow, I should have gone into this practice area. 💸

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These roles are incredibly hard to get and don’t come up all that often.

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Is the bonus amount guaranteed?

Thank you. bonus won't be there each year but the hours are way better than what im accustomed to. Appreciate the advice and for taking it seriously. I know it sounds exorbitant but maybe after living in and around nyc
my whole life my perception of what is necessary and what is market is skewed.

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