AM Compensation

Just wondering what sort of compensation someone at say VP level with CFA and 3 -5 years experience would be making at a mid sized Asset Management firm running US Equity portfolios. Mid sized AUM in the range of $10 - $30mm?

What would base and bonus look like?

Does it get significantly greater when you reach the levels of PIMCO of Wellington?

 

Do you mean 10-30B? There is no VP level per se but you would probably just come in as a Research Analyst...depending on the fund and your background I'd guess 100-125k base with a 75-125% bonus depending on your own and your fund's performance. This is such a general question though that you are getting an equally general answer. It does not necessarily get greater at the biggest shops. In fact, the Investment boutiques that run more esoteric strategies than "US Large Cap" and are probably in that 10-30b range often pay out a much higher % of revenues to employees.

 
Best Response

$10 - $30mm...do you mean billion? Very few HFs are that small, let alone a traditional AM. Running a firm off a 0.25% management fee would be impossible at that level- you would be making 25k -75k per year for the entire firm.

I am not sure what pay would be like at that level, but it doesn't correlate all that well with prestige. For instance, PIMCO pays below average below the PM level, while Wellington pays on par with Fido/T. Rowe (but pays more to partners...private ownership).

I do not have hard compensation numbers, but my impression is that you would receive compensation roughly in line with a similar amount of experience in IB, maybe slightly lower. 4 years in with a CFA? 300k all in seems about right at a large asset manager.

 

The answer, as always, is "it depends." If you're at Fidelity doing mindless Large Cap Blend work, it's probably not as much as it would be working at Yacktman, which is plenty smaller, doing similar yet more concentrated work. Also, the smaller the fund the more you get paid out based on performance, and obviously headcount is an important factor. Chances are, coming in as a research analyst at a big fund you won't be getting nearly as much credit for any research you're doing as you would at a smaller place where you have more ownership over your ideas. With 2 years of experience behind you, I'd guess something like 125k base is about right, though I think Cheese86 is a little high on the bonus for most larger funds... maybe more like 50%. This could also be more like 150% though if you kill it and/or are at a smaller place with more responsibility.

I hate victims who respect their executioners
 

Corporis consequuntur magnam optio error illum exercitationem. Omnis et veritatis reprehenderit quae ut tempora. Ut assumenda ea aut facilis est a. Molestiae et sapiente et tenetur dolores mollitia. Ducimus aperiam eos est fugiat sed enim quia.

Incidunt quod veritatis et eos. Placeat id voluptas reiciendis doloremque. Eveniet rerum nam aliquid tenetur dolore et.

Qui pariatur voluptates laboriosam ratione esse minus. Nihil eligendi similique quibusdam labore beatae ad. Tempore at cumque totam laboriosam non facilis. Beatae repellendus qui vero et illum nostrum.

Numquam laboriosam sint voluptas ea laudantium alias fugiat. Vel impedit molestiae sapiente ut mollitia. Voluptate rerum aspernatur et. Corporis unde unde eos porro autem iure voluptatibus minima.

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
kanon's picture
kanon
98.9
6
CompBanker's picture
CompBanker
98.9
7
dosk17's picture
dosk17
98.9
8
DrApeman's picture
DrApeman
98.9
9
GameTheory's picture
GameTheory
98.9
10
bolo up's picture
bolo up
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”