When are bonuses usually paid? It's my first year as an analyst at a MM L/S fund with fiscal year ended Oct 31st.
As well, my coverage underperformed (there is a sector head who is above me) while the rest of our team had a blowout year. Given my bonus target is 100% of base, how do PMs typically pay? Is it solely based on your coverage or does team performance also play a role? Our book is ~1.5B and there is a huge bonus pool for what it's worth.
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Obviously this is a conversation you have to have with your firm, boss, etc. How would we know?
Generally though, if they gave you a target of 100% for your first year, I would bet that your compensation is going to be less driven by firm/team/sub-pod performance, and more driven by discretionary evaluation based on your contribution (how well did you ramp, how well are you doing, etc.). From my understanding based on stuff I have read, a good PM wouldn't tie a 1st year's analyst (coming from non-buyside) super closely to performance, as you are basically just getting ramped this year and have had less of an opportunity to have a meaningful impact on performance.
Payouts vary from within december, all the way until March or April sometimes - depends on the firm.
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