Balyasny Reputation / Salary Expectations
Fellow Monkeys,
I have received a final round at BAM and am wondering a few things about the firm. I have been interested in moving to the public markets from PE and am curious if BAM is a solid entry point.
1. Reputation - is BAM a solid MM to work for?
2. Salary Expectation - currently, I make an above average PE associate salary. Will I make more at BAM? What are the typical payout ranges per Associate/Analyst/PM band?
3. Career Progression - how does career progression work at BAM?
Idk how people get this far in interviews without asking for comp guidance. That should be a round 1 ask before you waste your time.
Couldn’t disagree more. I’ve interviewed for many jobs and have interviewed probably 100 analysts and only once has comp come up early and that person came across as greedy and entitled (and btw got booted from the industry after a few years).
You trust the person hiring you has a general sense of comp and wouldn’t interview you if they were paying below market.
I agree with this at the junior and even some mid levels. At the more senior levels comp can vary so much, I’ve seen some firms (and especially recruiters) be way off on comp expectations. I would argue at the senior levels you get that out of the way early (since a lot of times the comp also aligns with how senior they hold that role, I.e. “MD” for funds that have them mean many different things). But since most of this forum is 0-5 years in, I agree with your view.
you would think so, but there are people making $40k and $400k doing exactly the same work.
I'm coming from the quant side but I made a similar post a little while ago: https://www.wallstreetoasis.com/forum/hedge-fund/balyasny-reputation
Just curious - Is the hiring PM Ian?
One of my LPs works there and made 7 figures in 2021 and IIRC 2020 too. He loves it and even turned down Citadel who offered him a pretty juicy floor in pay.
Salary is pretty formulaic, similar to citadel. IIRC associate $125-150k, analyst/Sr associate $175k, Sr analyst $200k, PM $250-300k.
This is salary, excluding bonus. Bonus is a much more complicated topic.
Makes sense. Thanks for this detailed answer. How is bonus calculated at the Associate/Sr. Associate levels?
Completely at the Sr analyst or PM discretion since PnL isn't directly generated at that level.
At what level can folks get carve-outs at BAM (Sr. Analyst?) and what would be typical?
Don't have much to add but can vouch that it is a well-respected MM. If you're working with a headhunter it could be helpful to talk through your current salary + expectations for next year and ask them if the role would align. When I was recruiting at my shop (not a MM) I didn't get comp numbers until the offer, but the HH knew what range I was looking for and confirmed that if I got the offer I wouldn't have an issue with comp. Good luck!
Thank you! It's definitely been an interesting process. They thought I did well on the case study, so we'll see what comes next. Appreciate all the help on this forum.
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