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HI, feel free to PM me to discuss. Im at a macro fund as well. If you have 6-7 years from an MBA and are producing seems based on your credentials your underpaid by 50% easy. (I know some salaries around my firm for analysts)
He is more like 75% underpaid if not worse. I am 3 years in out of undergrad and my total comp (base + bonus + deferred) significantly exceed that; and I consider myself being paid street average.
i said 50% easy.....
Wow that's low. Good luck man cause it sounds like you deserve more than that.
that is ridiculous.. almost unbelievably low...
Holy shit. Is this in the US?
1) You're significantly underpaid.
2) I'd start reaching out to headhunters and your network to see what else is out there and what the market rate for you is. If you want to stay at your current fund than take those offers to them as leverage for a raise / change in comp structure.
If your all in comp is 100k what's the base/bonus split?
Edit: Are you in a non-traditional / low COL area?
1234
Also, if youre fund is using your ideas you should be getting an X amount of PnL, ie you need to demand your own book and work off that if your ideas are in fact making money
10% would seem reasonable to ask given the info your provided.
While I don't disagree with the consensus here that you're relatively underpaid, it may not be by all that much when you consider two other things - how many analysts and support staff are there at your firm, and are your ideas making money? If your P&L has been negative (even if due to things that weren't your fault/bad luck/mistakes by the PM) then frankly any comp range is understandable. And if there haven't been any incentive fees to work with, how many ways is the 15-40m (I'm assuming 1.5-2% of 1-2bn) management fee being split? Compliance and administrative overhead adds up fast and if your shop is very institutionalized and you're part of a large team, especially if the funds don't bear the cost of research-related travel and other expenses, it may not be all that profitable a business even for the partners.
All that said, your experience is definitely marketable, especially if you are good. May as well look around, quietly.
1234
i will as often the case take a contrary view. The fund is on the whole down and you guys are over-staffed so there is no money to pay people. Even if ur ideas are profitable at a smaller fund you always run the risk that someone else loses the money u have made and you can't be paid...this is called "netting risk". 100k is about the normal base salary for a PM at a hedge fund...when they don't make money trading that is what they get also. There are very few hedge funds out there where people who are contributing trading ideas get paid even when the firm loses money.
If i was you i would use this bad year to try to get a firm pay-out on your trades going forward but understand that unless u r at a massive fund that can cover pay with management fees you are always subject to netting risk...that is just part of the business. I have seen specific cases where guys have not been paid millions that they earned because other guys at the firm lost even more then they made...as u can imagine this does wonders for morale and no doubt creates frustrated posts to message boards such as above. It is this type of thing that makes working for the larger funds attractive.
1234
1234 lol
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