Formulaic compensation in London
Wanted to ask if people could kindly drop names of fundamental L/S equity HF in London, that grant analysts formulaic pay on PnL? Ideally setup so that in the years where you strike big, a 7-figure payout is a possibility. Currently prepping for shifting from LO to L/S, but don’t want to go for roles where bonus upside is limited, don’t care too much about the base and ready to join a sweatshop. This is my list as of MM in London, though for some I am not sure of pay (purposely left out P72):
- Millennium Management
- Citadel & Surveyor Capital
- Balyasny Asset Management [Lots of reshuffling ]
- Schonfeld [Equity apparently has been underperforming, thus questionable PM quality]
- ExodusPoint Capital Management [Does equity but macro focused, poster mentioned questionable PM promotions]
- Verition Fund Management [Poster described it as a blow up shop, enough said…]
- Man Group [Believe GLG is the platform, not FRM? Going through rebranding, merging into something else and focus shifting away from equities]
The fund does not have to be a MM, though I imagine others are either less likely to give such comp unless it's a recently setup shop with no/little history. As for the prep needed for me to make the jump, this site has been an incredible resource so thanks guys!
Based on the most helpful WSO content, here are some fundamental L/S equity hedge funds in London that might offer formulaic pay on PnL, potentially leading to significant payouts in successful years:
These funds are known for their potential to offer significant bonus upside based on performance, though some have noted issues or specific focuses that might affect their attractiveness.
Sources: Q&A: London L/S + event-driven analyst, Q&A: London L/S + event-driven analyst, Q&A: 2nd Year Equities L/S HF Analyst in Hong Kong, Good time for a new analyst to join L/S hedge fund?, Top L/S in London and Hong Kong (e.g., Lone Pine, Viking, Coatue, Maverick, Darsana, etc.)
It is quite rare for analysts to get a defined % payout, and even in the few funds that do, it's often case by case depending on the analyst.
So you're narrowing your options in what is already a tough transition to pursue (LO to L/S).
In all honesty if I were you I would forget about the % payout, focus on mastering L/S, and once you're in a position to become a L/S PM you'll get your % payout.
Makes sense, thank you. I just don't want to be screwed over pay again. It seems I will just have to aggressively prove myself whilst on the job.
Trust me - at C / M: you very likely won’t get screwed on pay as an analyst if you’re making $. It’s usually HSD payout btw but it’s never written formally. Agree with other poster. Learn the l/s model first.
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