HF Analyst Question
Hi everyone, please disregard current title. For context, I have around one year of experience in MMPE. I recently interviewed with a hedge fund in L/S fundamental equities (a pod shop - not one of the major names) and was fortunate to receive an offer.
I have a call scheduled with the PM tomorrow to discuss the details, and I’d really appreciate advice from the community, especially from those with experience in the industry, on what questions would be important to ask at this stage.
Some of the questions I currently have in mind are:
- How much AUM is the PM managing?
- How is bonus typically structured for first-years?
- What does the PM’s historical track record look like?
I am seriously considering this offer, as I want to move to a role that is closer to markets. However, at the same time from reading the forums, I understand that there are some nuances which I may not be familiar with. If you were a prospective analyst in this position, what questions would you make sure to ask or clarify with your potential PM?
Well some of this ideally can be asked before after closing the offer, but off top of my head, what I'd like to hear:
Thank you for all the questions!! I managed to get clear answers to most of them - except regarding the bonus structure. Just wanted to check if it is typical for junior analyst bonuses to be discretionary, or are they usually tied to a percentage of P&L?
You won’t be a good idea generator for at least a year or so on the job so there’s no way it’s tied to PnL
Yea starting out discretionary, and over time once you get coverage and start calling ideas, it will start to change. That said, everyone has a different philosophy and process here. Some people will leave a discretionary part in with a jump call component or formulaic, and some will transition it to purely formulaic. It depends
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