HF Industry Typical Salary Progression
Hello,
I apologize if this has been asked before, but I don't know that much about finance so I wanted to get some perspective from people in industry. I recently got a summer intern offer from a top HF (one of Millennium, bridgewater, citadel) which I signed. However, I'm not sure about long term where I want to be, and if in the future I should still try and prep for recruiting in other industries. To that end, I'm curious what pay is like in HF right out of college, up to about 35, assuming you are moving up on the standard track of people at these firms (not exceptional, but not falling behind your peerset).
If you’re not exceptional the standard track is getting fired
Comp depends on strategy. Citadel L/S? Bridgewater macro? Differences imply different intial comp. There’s too much variance to give a meaningful progression path anyway
There’s no way you got an offer at one of those and don’t know shit, stop the cap
Sadly very possible
DEI at its finest haha
lol these firms dgaf about dei
either OP is a troll and just wants to know how much grads make there or
he might acc be super smart and just applied to say a QR role without knowing too much about the industry/finance and got the internship
I’m discussing final details of offer at a Big 4 MM
I have 2YoE in the buyside, if they offer me 120£ base salary, what is a normal first year bonus guarantee?
Is asking for 100% too much?
100% guarantee seems standard, maybe a bit low, for 2 YOE for London
Thanks for the data point
To give more context, I’ve spent 2 years at a large US LO, not a pod.
Progression is limited. I started in the industry after 2+2 at a base of $150,000. I now have 7 years of HF experience but my salary hasn’t broken $225,000. The salary is meant for you to live decently and nothing more. Hope this helped.
Not OP but mind sharing what your HF comp progress looked like? Or can help me out with a specific Q?
I have 2 + 1 background, and then spent 2 YOE at first HF (slow catalyst driven firm). Looking at 2nd HF to slightly change strategy (a lil faster paced on the trading side). What should I be expecting comp wise to be competitive in NYC? At this point my HF peers' pays are so wide on the high/low end based on performance, that its hard to know what laterals should be expecting
I’ve only worked at startup / very young funds so huge grain of salt here. I’ve had a few donut years due to overall fund performance being negative. The rest were 150-300% years, with one seven digit year. No real consistency unfortunately but this year should be one of the better ones.
are you at a MM / SM? how is that possible? bad returns i assume
I think he means base pay not total comp if I’m not mistaken
Reading is hard
total comp, 60% confidence interval
associate (graduate - 2 yrs): $200k - $500k
analyst (3yrs - 6yrs): $300k - $2m
senior analyst (5yrs+): $500k - $5m
PM: $1m - $15m
base starts $150k ish and caps around $300k
lol kinda true
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