For job seekers, we suggest taking a close look at the new compensation plan before you make a move. Gather as much information as possible in the interview process about past fund performance and determine how the proposed package will measure up to your specific expectations.
Talk to others in the firm. Ask about turnover and get any promises made in the interview process in writing before accepting an offer. There is significant income to be made but you need to be with a firm long enough to share in the upside. In addition to cash compensation, consider the culture and the work environment.
From the 2007 Private Equity and Venture Capital Compensation Report by Job Search Digest
Unlike our findings in the hedge fund industry, where employees in the UK earn higher compensation, the players in venture capital and private equity jobs in the US and UK are earning similar total compensations. The base salaries of professionals in the UK are 6% more than their US counterparts; the bonus package in the US, however, makes up for the 6% difference. The compensation gap widens when considering the cost of living as it currently costs 25% more to live in London than in NYC. Another interesting fact to note is that the vacation benefit in the UK is greater by 1 ½ weeks.
Professionals, both in the US and UK, claimed that they are able to strike a good balance between their personal and professional lives. More than 53% of the respondents from these two countries claimed that they are doing a better than average job of balancing their lives. About 20% in each claimed that their work/life balance was excellent. None of the respondents in the UK claimed that they were poorly balancing their work/life balance and only 3% in the US were doing a poor job of striking a balance in their lives.
From the 2007 Private Equity and Venture Capital Compensation Report by Job Search Digest
A large majority of the respondents stated that they were already partners or were on the partner track. 45% of the respondents said that they expected to become partner in only 3 years or less. 21% said that they were 7 years away or more from becoming a partner in their firm.
This is especially interesting as 21% of all respondents have less than 2 years of experience in the industry and 42% have been with their current firm for less than 2 years. Also, an overall 53% of the respondents have less than 5 years of industry experience and 79% have less than 5 years with their current firm.
From the 2007 Private Equity and Venture Capital Compensation Report by Job Search Digest
