Hypothetical one for you all. Would you rather be making market cash comp at a larger AUM, well-known fund but be a cog in the wheel being one of many - or - be making a haircut to market cash comp at an up-and-coming fund in a lean team but be a very meaningful contributor? On one hand you get prestige, cash, and solid deal flow. On the other you can claim attribution to building something if it succeeds.
Edited: perspective of either mid-level or junior.
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Always take the comp as a junior
Don’t trade long term comp for short term comp, if there is a lot of potential at the lean fund to move up, you have carry as an associate etc. it’s hard to beat. Typically there isn’t as much potential as you think. Take the cash and run
I've worked in both large and mid market PE and vastly prefer the former. I like working with businesses that I have actually heard of and have institutionalized management teams. Personally (and this really comes down to you), I just couldn't bring myself to care about Midwest-based middle market roll-up shitco #567.
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