For pod seats involving significant (but not completely) pre-ipo investing, how is PnL bonus determined for a senior analyst?
Is it just added to your salary over time as carry or do you get inflated PnL attribution upon ipo?
Is it just added to your salary over time as carry or do you get inflated PnL attribution upon ipo?
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Based on the most helpful WSO content, for pod seats, particularly in high-performing and consistent money-making pods, the bonus structure for senior analysts is heavily tied to PnL (Profit and Loss). If the total book performs well, senior analysts can earn mid to high six-figure bonuses. However, if the book prints nothing or negative, no bonus is distributed.
Regarding pre-IPO investing, the specifics of PnL attribution or carry aren't detailed in the context provided. However, in general, bonuses in such setups are typically tied to the performance of the investments and the overall PnL of the pod. If the investments lead to significant gains (e.g., upon IPO), it could result in inflated PnL attribution, which would then influence the bonus payout. Carry structures, if applicable, might also play a role, but this would depend on the specific terms of the pod and firm.
If you need more precise details about carry or IPO-related PnL attribution, additional resources or firm-specific policies would need to be consulted.
Sources: https://www.wallstreetoasis.com/forums/mm-analyst-comp?customgpt=1, Multistrategy / distressed credit compensation, Citadel Equities analyst terms, 2020 bonuses
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