Have the opportunity to join a small ($1b-$10b AUM) LO shop (equities) after I graduate. They have not hired out of UG before, and I think both they and I don't have a good idea of how much I should be paid. Broadly speaking, what would average / high / low all in comp look like for a role like this? Any tips on negotiating?
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100-150
Thank you, could you provide any more color? This is very helpful
Lmao. Dude gave the broadest range possible. Realistically, it was never less than 80 and never more than 180
“Dude gave the broadest range ever”
gives a range twice as broad
Haha just messing with you dude, the original ask is pretty broad in itself. This just gave me a laugh.
Not sure how many people are at your shop, but 115K-125K would be realistic
Thanks. What factors might influence this? AUM/head around $500m
1st year at a LO AM working in Fixed income at large fund 600B+ AUM.
TC is in the 150k ballpark.
Thank you! Do you have a read on how comp will progress as you become more senior?
You get promoted to analyst after 4-5 years and make 300-700k ball park and then PM you’re earning 800k to 1.2 mil but this is in Canada.
The US probably has a higher ceiling since you can manage a lot more.
120-150 all-in is fair. Wouldn’t worry too much about comp unless you’re getting severely low-balled (ie. <100k all in) since you’re just starting out. If the fund is willing to give you responsibility (ie. coverage) and mentorship, and its a strategy that you align with, will be much more valuable in the long-run. I say this bc a career in investing is far more merit-based than others. Your LT comp will be dependent on the fund’s performance and more importantly your contribution to performance. If you perform well, your comp can easily ramp up to match or even exceed your peers in IB. But if you suck, there's no hiding it.
Thank you, great response, really appreciate it. This shop has explicitly stated its intent to promote me quickly if I prove capable, including saying I could be PM as soon as 4 years out of undergrad. Is this as appealing as it seems? How would you think about this?
Sounds a bit fast for a LO. Usually people don’t make PM til they’re in their mid 30s (faster at HFs). But given its a smaller firm, not saying its impossible either. That aside, if you know you want to be an investor, and this shop has a decent culture and willingness to give you responsibility, give it a shot.
As someone in the EU working at a decent sized (local) shop, reading these comp figures is so depressing. Total comp as an Associate 1 is only around 80k USD (not all salary, a lot of perks), and taxes are high.
7 weeks of paid leave is nice though.
Edit: Forgot bonus, total comp is probably in the range of 90-100k, not that that's anything to brag about as someone with 4-5 years xp.
You might wanna create a slidedeck about the EU / US pay gap and go activism.
Hey mate I'm starting a new job in London for a 100% increase (2x) my gross salary. More than 2x increase net salary. London doesn't pay as much as USA but definitely better than the continent.
I've got nearly 5 yoe, was on ~80k USD in Frankfurt.
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