Hi all, I hope you are all staying healthy!
I was recently offered an analyst position at a Chicago VC firm (+$50M AUM). I've been interning there full time for the past 10 months. The offer = $60k +$5k Bonus target.
Does anyone have any thoughts on this offer? My first impression is that this feels below market?
A little more about me:
- 25yrs old
- 3yrs Biz Dev (Non Sales) for Global consumer products company. Roles in: Brand Development, Accounting, Marketing, PR, Sales Mgmt. etc. Managed team of 3 working w/ me
a. Formed FP&A Department at this company - Responsible for identifying growth opps. among current and future brands, financial modeling, brand projections etc.
b. Little bit of M&A exp. - Led the sourcing and diligence of international manufacturer - Co-Founded athletic clothing brand when I was 20 - Ran it for 1.5yrs.... made some $$$ (paid for school)
- CFA Level 2 Candidate
- Graduating from non-target this spring w/ Bachelors degree in Finance (Have been part time for 4 years so I can work full time)
My feeling is that they are treating me as if I don't have points 2,3 & 4, and that i've already been interning there for 10 months doing the same thing I'll be doing as an analyst. I feel like they are treating me only as a recent college grad (point 5).
Does anyone agree with my thoughts on this offer, should I negotiate? If so, how? Otherwise, snap me out of it!
Thanks!
It does feel pretty light, but at $50M AUM I have to assume this is a seed stage fund where you could theoretically get by without any junior employees. You should push back, but with the understanding you might not have a ton of leverage here
This definitely feels/sounds like a little bit low salary.. you should probably ask a little bit better salary.
Thanks guys, what do you think would be a good Salary to counter with? How should I back up my counter?
I don't know the Chicago market however you can always stay there for a year and then bounce for a much larger pay bump.
I can confirm this is not uncommon even outside CHI. Turned down a similar offer for a six figure corp fin gig at big tech..
50m fund, 2% mgt fee,standard 10 yr fund life: that's 1m for annual expenses for rent, travel, salaries, etc.
60k on that basis is not a bad offer, there's just not much to go around.
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