What is the expected compensation for a first year trader/assistant PM on a buy side desk? Base? Bonus potential?
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Sell side is pretty well known.
Buy side is generally better than sell side, but it will depend on your firm's performance.
I mean that can't necessarily be true. A lot of buy side traders are just execution traders and wouldn't necessarily make that much
Basically this, I am aware that friends who are in this position started at $55k in high-cost west coast areas. This is at a medium-sized, but reputable regional firm.
Idunno. Why would you leave sell side for buy side unless you were earning more? Why would they hire you if they thought you were taking a pay cut? You'd only leave a year later. If they really need guys who are good at executing trades, they'll seek out good buy side traders and offer more.
If it's a DE Shaw, AQR, Millennium, Kepos, Citadel, or Renaissance, I'd think long and hard before I said no. These firms don't have a lot of voluntary turnover anywhere.
What Wellington said is close to what I've seen too. Interviewed last spring for an assistant trader at small HF (~$500mm AUM), and starting was 55-65k DOE. This was in NY.
Thanks for the input everyone.
But I am still not sure what to expect. What is the expected comp on sell-side?
Thanks again.
I would say this is directly proportional to the size of the firm in terms of AUM and also the amount of employees. Generally but not always, larger firms pay 10-20k more in terms of base. No clue as to bonus. I know a former colleague who worked for a small equity fund as a portfolio analyst with 2 years banking experience in credit analysis who made 45k in Chicago eight years ago. Another friend currently works for a commodity fund at a Chicago wealth management firm making mid 50s + bonus. You could try looking at self-reported salaries on Glassdoor for a gauge of what this role pays in a given region.
Thanks, Lou.
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