Compensation at Lone Pine?
Wondering how much comp looks like at a fund like Lone Pine. Specifically that of an associate director.
Also, what does a place like Lone Pine look for when hiring analysts? I have seen people come from relatively "non-target" schools and was wondering if they filter more simply for raw intelligence and passion. Thanks!
Those people with “non-target” backgrounds are coming from a combination of blue-chip banking and private equity backgrounds, likely having graduated at the top or near the top of their respective universities. As for comp, for the level you mention probably above $500k with fluctuation depending on how your ideas/team performs.
I hope the below if helpful to you and/or others:
Can echo comment above and from my interactions with them / other Tiger cubs, they seem to look for people with a passion for investing. Generally public markets, but recently that whole community has seemed to be a bit more open to privates. Not sure if lone pine has gotten into that. I understand the founder Stephen Mandel maybe was the retail analyst at GS and maybe made a good amount of his money investing early in Walmart or the like. Comp is probably in line with other Tiger cubs but again ultimately comp will be tied to fund performance. If you can help them manage a lot of capital and make money on that capital your comp starts to mirror the 2/20 or whatever they charge their investors with whatever haircut/overhead Stephen and his firm takes from that for managing you
ultimately my guess is they want money makers. You probably have to show up to the interview with a money making idea that fits their fund/style . If they are confident you will make them and their fund money, they will be more amendable to bringing you on. The places they recruit from generally provide good training for making money the way they like to make it
they generally seem to hire from top PE firms or top other more private-focused hedge funds or whatever. In order to get to those places generally people did top banking and/or top PE and top schools before that. But once you find a way onto that track, not sure it makes too much of a difference where you came from prior to making it on that “track”
good luck and best wishes :)
Appreciate the detailed response. I'm still learning about public investing and investing in general. As someone going into a first summer ib internship with minimal professional experience, are there any good recommended books to learn about public equity investing? Or investing in general?
There are some books lists and interviews with Stephen mandel / lone pine from a Google search. May be best to start with those and see if any of them interest you
or read some of this info:
the value of something is the price someone wants to / is willing to pay for it
Price is what you pay and value is what you get
Don’t lose money
invest in good businesses doing good things for the world
A penny saved is a penny earned
No one ever became poor from giving charity
investing when done right can be consider among the highest forms of charity
its better to give than you receive
someone who hates gifts will live
there is no such thing as a free lunch
patience is key when investing
a lot of success in investing is the emotional aspects as opposed to the analytical aspects
better to learn investing / learn lessons about it when you are younger and have less money than when you are older and have to manage larger amounts of money
you miss every shot you don’t take, but you never really need to take the shot if you don’t want to
Even the best investors in the world are often wrong. They are generally some of the 1st to admit when they are wrong
more money more problems
markets are very humbling (maybe a Ken griffin quote)
all of the above are quotes from various people/books in general. Don’t remember exactly which one is which but the point is summarizing just other investing info out there
Never heard of them, is this a role comparable to point72 or citadel or “prestigious” HFs? Assume lack of name recognition could be a negative
That you've never heard of them and are comparing them to P72 or Citadel speaks to your lack of understanding of the HF space. Do some research into the difference between Multi-Managers and Single Managers. Lone Pine is one of the top Single Manager HFs in the world and everyone who is in the space holds them in incredibly high regard.
Typical consultant
This is clearly a troll post lol everyone relax
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