Junior PM Comp?
Throwaway account here.
Any thoughts on comp for a fixed income junior PM role at a big long only shop in major metropolitan area?
Keeping details vague, but firm is in the 100-300 bn aum, with 5-10 bn in the strategy and a team of ~10-20. Would be supporting multiple PMs but clear this is not an assistant/associate PM role but rather someone they want to "groom."
Background is ~5 years experience in strategy as analyst (no sleeve but very involved in portfolio strategy and position sizing) and ~8 years investment experience, as well masters from target (good progress on CFA as well).
Bump. Any insight from some of the board's more experienced members?
I can't say this with 100% certainty but it's my understanding that the Jr PM's in my group (Fixed Income, $40Bn AUM with 40 investment professionals, firm AUM > 1T) are at $150-180 + 100-150% in good years. Experience level historically has been 8 years minimum, so very similar to your experience. Senior Analysts being groomed for PM roles in our group are in the $140k-$160k range + 80-100%.
Thanks, great color. Are you in a major financial center?
Chicago
less familiar with credit side, but I'd guess a bit higher. $160 - $200k + 100-300%.
** probably should have mentioned that my group is part of a major Asset Management firm, i'm assuming jankynoname is talking about credit hedge fund? No chance you make that kind of money as a Jr. PM at a place like mine... definitely possible at a credit fund though.
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