HF Comp Out of IB - Current Figures

Does anyone have numbers on current base / bonus rates for HF analysts out of IB programs (1-2 years out of college)?

Since HF pay is less uniform than banking / PE gigs, it'd be useful to collect some data points.

Given the variability in HF pay, it would be great if you could include AUM / fund size as well as a description of the fund if possible (single vs multi manager, long vs long/short, etc) so we can get a sense of what the current figures are like across the board.

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I am not currently on the public side, but interviewing for public side roles. I'm going to be honest, I've reached out to a lot of friends at HFs and the ranges are absurd. Did my best below:

SALARY

  • If you fully completed your 2-year IB program, 95-125k base salary is probably reasonable
  • If you did 2 years of IB then 1-2 years of PE, 125-150k base salary is possible

BONUS

  • Structure 1: You get allocated a $ amount of the portfolio and get to keep a % of that PnL
  • Structure 2: You get allocated a % of the total PnL for the entire fund
  • Structure 3: Completely discretionary per what your managers think you are worth and how the fund is doing
  • Summary: $0 to no limit on the upside, but being two years out a bonus of ~75%-125% of your salary is probably about the starting range

All of this is through informal conversations with friends and varies with geographic location, fund size, and most importantly fund performance. I hope somebody in the industry, especially with a few years of experience, will chime in to add some thoughts. Hope this helps!

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