Mic’s Newsletter (Early VC) - 3rd Edition

Happy February everyone! We have some exciting roles this week, from climate 🌿 to fintech 💵 and beyond. See below for what’s new, and you can find all open roles on our job board 🙂 

💹 Today’s agenda:

• New Roles This Week

• Salary Transparency: How Much Do VCs Really Make? 🤔 

• Poll: What Else Would You Like To See?

• Daily Dose of AI News

• A Thanks for Referring Friends 🙂 

New Roles This Week

Internships 🤓 

• Summer Associate Intern @ Race Capital (Silicon Valley, CA) - Apply Here by Feb. 29th

• Venture Scout @ Infinium Venture Studio (Remote) - Apply Here

Analyst Roles 😍 

• Analyst @ 137 Ventures (San Francisco, CA) - Apply Here

• Corporate Venture Capital Analyst @ Hewlett Packard Enterprise (San Jose, CA - Hybrid) - Apply Here

• Analyst @ Playfair Capital (London, UK - Hybrid) - Apply Here

Associate/Senior Associate 😄 

• Ventures Associate @ Coinbase Ventures (Remote) - Apply Here

• Associate @ Powerhouse Ventures (Oakland, CA) - Apply Here

• Investment Associate @ The Production Board (San Francisco, CA) - Apply Here

• Venture Capital Associate @ Connecticut Innovations (New Haven, CT - Hybrid) - Apply Here

• Investment Specialist @ Bright Pixel (Lisbon, Portugal) - Apply Here

Operational Roles 🤠 

• VC Biz Dev Manager @ Google Cloud (San Francisco, CA or New York, NY) - Apply Here

• Portfolio Program Associate @ TDK Ventures (San Jose, CA) - Apply Here

Roles Still Open From Last Week

• 2024 Summer Associate @ The Westly Group (Hybrid - San Francisco, CA) - Apply Here by Feb. 18th

• 2024 MBA Summer Associate, Venture Investing @ Emerson Collective (Palo Alto/San Francisco, CA) - Apply Here by Feb. 12th

• Technical Associate @ Catapult Ventures (Los Altos, CA) - Email [email protected] to apply - rolling basis

• Analyst @ LDV Capital (New York, NY) - Apply Here

❗️ Note that many VC roles are posted without application deadlines and filled on a rolling basis - if you see one you like, I’d recommend applying within a week, or as soon as possible!

How Much Do VCs Really Make? 💭 

I get asked a lot about early career (non-partner) VC salaries. There’s a misconception that you land a role in VC, suddenly get paid a huge salary and a chunk of the firm’s returns, and catapult yourself towards an early retirement. This is (usually) not the case. Last week I shared the EVCA’s 3rd Annual Compensation Report as a resource (the report outlines average early-career VC salaries), and compiled a few numbers to share:

These salaries are absolutely high, but on par with what you see working in many early-career positions in tech, with less upside (no stock, small to no carry.) You’ll rarely get significant carry, or a ‘piece of the pie’ in the firm, until the senior associate or principal level. Your compensation is tied to performance and returns, which are typically realized over a 6-10 year time period.

Of course, VC can be an incredibly lucrative career (especially if you’re a high-performing partner) and rewarding for tons of reasons - it’s just a long game 📈 

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Refer a Friend, Win $50 🙂 

Thank you to everyone who’s referred friends to the newsletter! 💓 In case you missed it last week - if you refer a friend, use the link below and get entered to win a $50 gift card to anywhere of your choice (you’ll get entered once for every person you refer, and if you’ve already referred someone just message me!)

❗️p.s. your friend will need to confirm the subscription so we don’t miss the entry! We’ll be closing this on Feb. 19th 🙂 

Say Hi! 👋 

That’s all for this week - you can find me on LinkedIn, Instagram, X, and as always feel free to reach out to [email protected] with any questions/feedback. I’d love to hear from you!🙂 

-Mic