Top LO Research Associate Comp
What is base for Research Associates at the top LOs (thinking of firms such as Dodge & Cox, Fidelity, Wellington, Capital Group, T Rowe, etc.) for their grad programs in the US?
Appreciate any guidance!!
Based on the most helpful WSO content, here is the information regarding the base compensation for Research Associates at top Long-Only (LO) firms such as Dodge & Cox, Fidelity, Wellington, Capital Group, and T Rowe Price:
For specific base compensation figures, the context does not provide exact numbers. However, it is known that these positions are highly competitive and well-compensated, reflecting the prestige and demands of the roles.
If you need more detailed figures, you might want to check specific threads or discussions on WSO or reach out to current or former employees of these firms for the most accurate and up-to-date information.
Sources: Post-MBA Recruiting At Top Asset Managers / LOs, Post-MBA Recruiting At Top Asset Managers / LOs, Info on Capital Group, Breaking into buy-side equity research - my experience, Big LOs
110k
100k
110min - 140max for base, bonus varies from 30-60% of base
Is that a normal bonus % for all three years? I don’t know why but I thought it was like 100%.
Not as an associate. 30% pretty typical for these shops.
That's Y1
currently at one of these shops, accurate for 1st year
Any idea on the comp growth a RA can expect in the first years? If you start at 110, what can you expect on Y2/3?
Bump. Interest in the growth expected in the first year.
Base is usually just bumped up by 10-20k each year depending on both individial and firm performance. Bonus grows exponentially each year.
Is the term research associate considered the same as analyst in other fields, as in the entry level role?
Correct. Typically RA programs are 3-4 yrs long with some offering a potential route to analyst (risk taking position) while others do not and the assoc has to leave to another firm/MBA.
IMO, it’s a great place to start off if you have a strong interest in public markets and offers way better WLB than IB for a slight comp discount.
Bonus can easily scale to 100%+ but that implies you've picked up coverage of stocks and made the right call. That's a Y2 and beyond thing. Base can ramp rather quickly as well. So you can go from 110k + 40% bonus Y1 to 130k + 100% Y2 if you perform. Having a guarenteed baseline of Y1 150k, Y2 175k, Y3 210k, Y4 275k is really nice, especially when the upside can something like 350k in Y3/Y4 if you don't suck at stock picking.
What does that trajectory look like for analyst roles at these firms?
starts at 300-400k, hits a buck typically by 10 yoe but very dependent on performance as this is mostly driven by bonus
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