Can someone help me understand comp progression at SM HF?
Have looked around on this website and can’t find a definitive answer for (I) what comp looks like when you start and (II) how that scales? Really focused on (II) since I’m trying to compare it to my current seat’s progression
Having a hard time comparing it to PE since PE has great visibility with Heidrick Struggles comp survey
For reference, currently sitting at a MF PE fund and have received looks for SM HF roles. Mainly focused on scaled SM HF since that’s where the inbounds have been from but any datapoints are helpful.
For those also curious, here are some okay threads I found on the subject
https://www.wallstreetoasis.com/forum/hedge-fund/what-are-the-top-sms-to-work-for-today#comment-3559121
https://www.wallstreetoasis.com/forum/hedge-fund/what-does-a-successful-career-at-a-fundamental-ls-sm-hf-tiger-cubs-etc-look-like
https://www.wallstreetoasis.com/forum/hedge-fund/sm-hf-comp-expectations
(Has okay info on 1st year compensation but nothing on progression)
https://www.wallstreetoasis.com/forum/hedge-fund/comp-expectations-at-sm
(This seems way off)
jr analyst discretionary
sr analyst % of PNL (or discretionary, but more tied to PNL). or PNL adjusted for sector, beta, etc
partner % of firm PNL + % of GP if very senior
all of this extremely firm AUM/PM/PNL dependent but gets to high 6 figures -> 0 to low/mid 7 figures -> 0 to 8+ figures at each level. some firms will give you a floor comp in bad years, others you get basically your base salary but upside in good years
Thanks this is helpful. Any rough math you can do to determine allocation / P&L size based on AUM? Assuming not since it varies by how teams are broken down but just curious.
And then any rough estimates for senior analyst / PM % of P&L? Assume this will also vary greatly by firm.
It’s all over the map.
Here are steps you can take to understand what pay progression looks like at a single MANAGER hedge fund:
1. Ask the PM
/endthread
Can you share any general picture of what 5-10 years in looks like at a SM HF? Anecdotes are helpful too
Trying to learn up front before I spend time prepping and talking to people at the firm
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