Michael Patel
Principal, Credit · MainFirm
Base Salary
$390K
Target Total Cash
$819K
Unrealized Carry
$1.7M
Total Distributed
$0
Total Compensation Mix
Target Total
$887,465
Base Salary
Cash Bonus
Benefits
| Component | Est. Annual Value | % of Total | |
|---|---|---|---|
| Base Salary | $390,000 |
|
43.9% |
| Cash Bonus (at target) | $429,000 |
|
48.3% |
| Benefits & Perks | $68,465 |
|
7.7% |
| Healthcare (firm share) | $19,800 | ||
| Dental & Vision | $2,400 | ||
| 401(k) Employer Match | $19,500 | ||
| 401(k) Profit Sharing | $7,800 | ||
| Life & LTD Insurance | $5,265 | ||
| Additional Perks (est.) | $13,700 | ||
| Target Total Compensation | $887,465 | 100% |
Benefit values are employer-cost estimates. Carry is annualized across a 4-year vesting period.
Bonus shown at target performance level.
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Total Rewards
Cash Compensation
$390K
Base Salary
$429,000
Target Bonus (110%)
$819,000
Target Total Cash
Principal Performance Bonus
Hybrid
Effective 2024-01-01
Payout Bands
$257,400
$429,000
$682,500
Meets
Exceeds
Outstanding
| Performance Level | % of Target | Bonus Amount | Total Cash |
|---|---|---|---|
| Meets | 60% | $257,400 | $647,400 |
| Exceeds (target) | 100% | $429,000 | $819,000 |
| Outstanding | 150% | $682,500 | $1,072,500 |
Performance Criteria
Primary: Credit underwriting quality, portfolio monitoring, and individual performance rating (min. 3.5/5.0)
Secondary: Cross-functional collaboration and platform development contributions
Benefits & Perks
Health Insurance
- Plan
- HDHP + HSA
- Coverage Tier
- Employee + Family
- Firm Pays
- 90% of premium
- Dental & Vision
- Included
401(k) Retirement
- Firm Match
- 100% on up to 5% of salary
- Profit Sharing
- +2% (discretionary)
- Max Firm Contribution
- $27,300/yr
Insurance & Leave
- Life Insurance
- 3× base salary ($1,170,000)
- Long-Term Disability
- 60% of salary
- PTO
- 25 days/year
Additional Perks
Firm HSA contribution $2,400/yr
$750/mo transportation allowance
$2,500
annual financial planning stipend
gym & wellness membership
Carry & Vesting
Carry Grants (1)
| Grant # | Fund | Date | Allocation |
|---|---|---|---|
| CG-2018-0005 | APEF-VI | 2018-06-01 | $1.7M |
Distributions
| Date | Fund | Net Amount | Status |
|---|---|---|---|
| No distributions. | |||
Vesting Schedule
| Date | Grant | Fund | Amount | Status |
|---|---|---|---|---|
| 2019-06-01 | CG-2018-0005 | APEF-VI | $417K | Vested |
| 2020-06-01 | CG-2018-0005 | APEF-VI | $417K | Vested |
| 2021-06-01 | CG-2018-0005 | APEF-VI | $417K | Forfeited |
| 2022-06-01 | CG-2018-0005 | APEF-VI | $417K | Forfeited |
Documents
| Filename | Grant | Status | Signed |
|---|---|---|---|
| CG-2018-0005-agreement.pdf | CG-2018-0005 | Signed | 2018-06-28 |