hedge fund salaries in london
what is the expected compensation (basic and bonus) for someone working at a hedge fund in London all the way from junior analyst to portfolio manager
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seen a few grad scheme base salaries at around 100k gbp with a 5-10k signing bonus and 20-60% discretionary bonus recently. Unsure what it looks like for people who arent breaking in out of university.
how is Qube？
SMs in London probably pay mediocre. Doubt analysts are making 7 figs unless you’re at TCI or something. Pods will be the same as anywhere.
Recently turned down analyst position at a pod. I have 3/4 years experience, offer was £110k base + highly variable bonus. Lots of upside, lots of downside. Credit.
On the SM side, heard associate positions for large credit SM ~£150-200k all-in as a floor for the performing side, 15-30% more for the L/S stuff.
Move to US, comp in Europe is a joke.
Very difficult to move as a european ! Visa issues
Also means you have to put up with Neanderthals who only talk about comp or how prices/taxes are “so high”, are not funny and have the most obnoxious political takes.
So, pick your poison.
Oh and there you have to work like a dog and make it your whole personality
Relax bro
Lol intern gone wild
Pod base comp typically tops out at around £120k with bonuses making up the bulk of total comp. For an analyst, it comes down to what you negotiate with your PM. Bonuses tend to be paid in $ which exposes you to FX risk (although £ has been weak). Experienced guys I know working at pods are taking home bonuses of around $500-$1m in decent years. SM comp is all over the place and, given how much smaller the HF industry is in London, there is an excess supply of analysts willing to work for low wages. Base comp tends to be slightly higher but generally tops out at around £150 for experienced guys. All-in comp at SM's can range from £450-600k in good years, £300-400k in decent years and £150-200k in poor years. Unlike pods, the real payout at an SM comes from becoming an equity partner in the business.
2 of my buddies are PMs at pods and make 250/300 base
Very surprising to read this. I'm in a large MM and even for the most profitable PMs, base comp is capped at 150/200k (in London at least).
Actually, they don't care given the low % it represent in the total package.
Sure, for PM's it's a different story and again it will come down to negotiation between the MM and the PM. I was referring to the analysts that I know working at MM's in London.
That’s spot on for PMs at platforms. US comp higher in some instances and more room to negotiate. Buyside comp in Europe significantly lower across the board.
How many years of experience is this?
what is the difference between pod structure and SM?
How about Qube?
Bump
What would be market for a 2-3Bn discretionary single manager in London? ~4 YoE in banking.
Think I might get offered something like 90k + 50-60% ("protected" bonus but no real upside) and this would be a severe paycut.
Considering to decline and keep recruiting though I am considering accepting given low opportunities / not sure pod-style would fit me. Might be worth to get a foot in the buyside and then recruit from there, although being underpaid with capped upside hurts.
Does the fund's name begins by a G and end by a E ?
If yes, there's a post on WSO laying out how bad the culture is there
PM me. I'm at an SM and can give some comps
No, it's not this fund...
Ok, I wanted to know how much this fund could offer to analysts, is it really far from MMHF comp?. Got approached.
6 yoe GBP 100-120k base + 0-3x discretionary bonus. SM credit.
That’s an interesting topic and was tempted to start it myself. Curious to hear about average compensation for a junior analyst position (straight out of uni, postgraduate, no previous sell side experience or others). Is there also a difference between specific strategies and structures (SM, FoF, MM)?
Great topic! I wonder how much Elliot pays in London. Any insight?
Most of this comp seems lighter than PE comp. That feels wrong for junior level. Is not public mkts where you can make more at a more jr level (whereas in private mkts, its more playing the long game and waiting for things to scale?)
PE seems to be £110-£130k base + 100% bonus for ASO1 (i.e. after 2 YoE in IB). Can you expect similar as first year at a pod/ non pod coming out of 2 years of IB?
In a pod, you'll be at £110k + £50-100k first year I would say.
Almost all guys from PE have to accept a cut to their TC when moving to HF. The upside is higher in public market than in private.
Thanks for the color. Makes sense.
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