Average partner at a private LO (Wellington/Capital) is making 7 figures?
Saw a post that said this was the case - this seems very high; is this correct? Also is this in US only or would it be the same in London?
Jan 11, 2023Jan 11, 2023
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Comments (21)
Pull up their reports from Companies House and check for yourself. In Europe, pay per head at Wellington is $500k, PIMCO is $700k. Given that this would be an average between investment professionals and support, safe to say that a Partner is easily clearing 7 figures.
Partners would be well in to 7 figures. You won't find numbers published but they split huge partner bonus pools that vary greatly year by year.
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.
This is dumb. What, you don't think people talk? It's impossible to be close with a partner who will tell you? Of course you can figure out a ballpark number with a little digging
This is common at LOs and even some SM LOs (my case). People don't talk about senior comp
Uh what part is dumb. Obviously we speculate but you think the PM or Partner will come into a meeting room and announce how much they make? It's definitely a much more conservative environment vs. banking on comp talk.
The average (yes, average) partner at Wellington / Capital / PIMCO makes mid 7s on a decent year
Average Pimco MD makes $30m p.a. / Average Investment Professional makes $7m:
https://ritholtz.com/2014/11/pimcos-1-5-billion-2013-bonus-pool/
PIMCO has increased its headcount by 50% since then, with no increase in AUM. Although might be a lot more equitable without Gross and El Erian.
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.
8 figures…
Interned at Wellington for a Senior PM managing growth-style fund -- heard he made $10M that year and the fund was up by single digits
Heard the same ballpark for an Equity PM and HF PM there from their personal friends/family.
Admittedly, I am also basically a junior level, so we could all be parroting misinformation/hearsay. Within my own firm (not Wellington), it is tough to get transparency more than two levels above.
Any info on Credit PMs? Same ballpark?
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.
Really? On their website they say the average PM (I know not necessarily partner) has 14 years experience at the firm. I thought they preferred to promote from within to retain their culture
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