Would appreciate advice on the difference in pay/lifestyle/culture between say an SAC/Moore/Soros/Ruane Cuniff vs say a BlackRock/Wells/GSAM/Alliance Bernstein.
Pay: substantially smaller initially as well as down the line in AM vs a HF.
Lifestyle: from what my friends in AM say, no real stress and no more than 8-9 hour days. HF is 9 on a really lucky day, closer to 10-12 hour days.
Culture is very dependent on the group.
Also, do your research. SAC has been out of business for quite some time.
Most analysts at larger AM funds will top out around $700-$1mm. There are a few notable exceptions. PM's are a totally different story. Probably (I'm guessing here) starts around $1mm and goes up from there depending on AUM/performance/flows etc. note that there are very few PM seats that open up since no one ever leaves, so there are no guarantees that good analysts will ever get a crack at running a fund.
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Pay: substantially smaller initially as well as down the line in AM vs a HF. Lifestyle: from what my friends in AM say, no real stress and no more than 8-9 hour days. HF is 9 on a really lucky day, closer to 10-12 hour days. Culture is very dependent on the group.
Also, do your research. SAC has been out of business for quite some time.
Thanks. Got numbers on the AM pay? Not interested in junior level so much as +10, +15, +20 years down the line.
Most analysts at larger AM funds will top out around $700-$1mm. There are a few notable exceptions. PM's are a totally different story. Probably (I'm guessing here) starts around $1mm and goes up from there depending on AUM/performance/flows etc. note that there are very few PM seats that open up since no one ever leaves, so there are no guarantees that good analysts will ever get a crack at running a fund.
I'll also just add that there aren't many AM guys working 8hr days. 50-55 hr weeks would be pretty standard outside of earnings. 70+ during earnings.
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