21 Comments
 

I'm at a private LO. I think anybody who offers a range for senior PM / partner comp ranges is giving BS. Yes it may be over 7 figures but who knows the true figure. Comp figures are lower too now vs. last decade and most comp data on this forum seem to be stale. I'm within the company and even junior / mid people have no idea. For whatever helps, yes in IM the comp is tiltly dramatically upwards to those who stay 20 years+. However, down-cycles like 2022 do affect comp. I heard from credible sources within my firm that partners took a massive cut during bonuses this year just to fund junior, sales and support comp. PMs that underperformed their benchmark for the last 3-5 years are also looked incredibly stressed to me and we have had PMs that left end of 2022. 

 
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Figure their bonus pool has been cut in half (maybe more but it will increase as bonds gain favor again). Between leakage, losses, and increased overhead. But they still only have about 75 MDs (consider them senior partners at most firms). So even if it was only 500m, that 6.6m per MD on top of their regular salary. It's likely not all equitable so some will probably make 30-50m while others only a couple...but still, way more than most will ever get to.

I have a cousin who was a fund mgr (not at PIMCO) and then started his own HF. As a fund manager, he made north of 15m. God only knows what he took as the HF founder. They started with apprx 1B and took it up to about 5B before he shut it down. My guess is he was making a couple hundred mil at the time. He manages his own family office now and that typically is 500m +. Regular guy too. Down to earth. Very nice. You'd never know it by speaking with him.

AM can be far more lucrative than becoming an MD in IB, but it's really hard to get there.

 

Ik someone mentioned that these partners r tail event occurrences… to expand on this a tad - wellingtons model recently involves hiring from across industry the best PMs / analysts with fantastic track records. From an RA to get to senior MD ( partner ) at Welli your chance is 1/10 if your already in the investor program ….

basically you have to be genuinely amazing at the job + lucky + be politically favoured. 

 

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