At MM platforms, who is paying analysts' base salary?
Say PM A has only one analyst and AUM of $200mm, and PM B has 3 analysts and AUM of $500mm. Who is paying the base salaries for the two more analysts?
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The base is almost always 150k, bonus is all tht changes
I think Citadel is much higher than that. Also think EP is a little higher.
When I was at Citadel, the base went:
Associate 150
Sr associate 175
Analyst 200
The PM is usually paying the base salaries for the two more analysts. As you noted, the guy with more analysts has more AUM so his upside is theoretically greater and he can generally afford more headcount.
Case by case. But the PM generally tries to get approval from management to make the salary an above-the-line expense. The higher the AUM, the more analysts management will consent to cover base salary.
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