How much do Senior Analysts, ~2 years away from being LO PM, make at the top institutional LO firms? Have a couple medium stage discussions for lateraling from HF to LO. My annual comp has been extremely volatile, from zero bonus to $2MM all-in, over the last 7+ years so not sure what numbers to frame. Serious conversation only please.
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Based on the WSO Dataset, compensation for senior analysts in long-only (LO) credit roles at top firms can vary significantly, but there are some benchmarks you can consider. For instance, at large firms like Pimco, Oaktree, and Goldentree, which are well-regarded in the industry, senior analysts with substantial experience (8-12+ years) have seen a recent uptick in compensation due to wage inflation. This includes both salary and bonus components, which can be in cash, stock, or deferred forms.
While specific numbers aren't detailed for those just 2 years away from a PM role, you can infer that compensation is competitive, especially at top-tier firms. Given your experience with highly volatile compensation at hedge funds, transitioning to a LO firm might offer more stability in earnings, though possibly at lower peak levels compared to your highest HF earnings. It's also worth considering the broader benefits package and the work-life balance that LO roles might offer, which can be a significant part of your decision-making process.
Sources: Large hedge fund analyst compensation, HF Analyst: The Things I Know For Sure, LO Credit (HY/LL) Sr Analyst Comp Packages, 2017 Hedge Fund Report: 8 Key Takeaways, Would you rather hire a junior out of IB or LO AM?
6-700k. Early-mid 30s 14yrs of experience all at the same LO
This is great, what was your path to LO? Would you still recommend the career to undergrads (vs IB/private markets)?
It’s still a great career but odds of joining a LO from undergrad and getting promoted to Analyst are against you. I found the training out of undergrad to be subpar at best. Take that for what you will.
what size LO is this?
$1tn+
Are you currently at a MM or SM, and 7 years of experience? And has it been like $400k for 6 years and $2m for 1, or have you reahced a point where you're consistently tracking $1-2m now? Also re: LO, are we talking large private LO (Capital, Wellington), or smaller / public?
Bump
2 years from PM as a lateral seems unusual. But seasoned analysts at good LO make $500k-$1M. $1M-$2M is possible at some firms with good performance.
There has been absolutely relentless fee compression and fund outflows for most LOs. Above $1mm for analysts is exceedingly rare and almost non existent for “new” analysts
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