Venture capitalists are increasingly looking for candidates with deep technical expertise, especially in AI.
VC firms are even squaring off with AI companies to secure top talent, but they can't compete with OpenAI when it comes to compensation.
As venture firms struggle to raise new funds, they are hiring fewer roles and hiring candidates with deep domain expertise in areas such as AI.
Traditional backgrounds such as MBA and consulting will not be sufficient for the best investors going forward.
To understand AI, VC firms now seek out candidates with technical expertise, instead of generalists.
Yoni Rechtman, a principal at Slow Ventures, says being technical as an associate is a plus, but is not a requirement.
VC firms are looking to hire younger people who have grown up with AI and think of AI as inevitability.
VC firms are interested in hiring ex-Palantir and OpenAI employees, who can add expertise and networks in the AI field.
To find top talent, VC firms are competing with AI companies by offering salaries that are above market rate.
VC salaries are lower than the salaries offered by AI companies. For instance, M13's average salary for VC with 1-3 years of experience is $264,000, while OpenAI's median yearly total compensation is $534,197.