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I would assume that the comp is performance based and also dependent on how well the funds are doing as a whole. I also assume that it's pretty difficult to get a job at those small companies and that they tend to hire their really smart friends for the limited openings that they have and that there isn't a formal application process like at a blackstone or TPG.
lol paulson, soros. Work on getting an offer from one of these places first, no where does it say doing IBD will land anywhere near those funds. Especially soros which focuses on global macro, why would a banker be qualified to do that?
I know someone at Soros that recruits ex bankers for valuation.
Maybe they have long/short equity and event driven funds too, that would make sense. But I worked with a trader who did global macro, he met soros and many others when he was in London. He hired junoir ppl to build models in matlab/C#/etc to run large simulations in FX/rates/commodity trades. The chicago math/econ type, or CS/soft eng stuff. Then again at the end of the day it comes down to being extremely smart and finding ways to make money doesn't matter if your a banker/consultant/math wiz.
If you know someone there who recruits why don't you just ask him...?
They have a bunch of different areas at all these places (even PE, distressed at traditionally macro funds like Moore and Soros). It would be awkward to ask the much older guy how much he pays his analysts.
partners leave gs to work for the great soros. gl with what you want
...analysts do not get paid that much at big hedge funds...comparable to street analyst pay to start and then it can rise based on performace and relationships. But the general model is to bring in analysts to do grunt work, pay them as little as possible, and grind them into the ground until they cry uncle and use the big name to try to get a better job elsewhere.
I work at a soros/moore/tudor/etc-type macro fund and it is rare to find former bankers. Sometimes the equity or credit groups will hire one to work on balance sheet stuff but the bulk of the people hired are either straight from school, are former sell-side rates/FX/commods traders, or come from other non-traditional places like central banks/government.
What do you think about PWM as an exit opp to a macro hedge fund?
I thought those macro funds don't hire people straight out of undergrad or business schools?
Thanks for the info bondarb.
what about capital markets? would a macro fund take someone with 2 years capital markets experience (just wondering)
keep the topic to compensations.
really varies significantly from fund to fund. the well known funds don't always pay the best at the most junior levels. some places take the mentality that you're there getting an education and getting associated with the firm, and they don't need to pay you that much because you'd want to work there even at mediocre comp. quant funds also tend to pay relatively little (at least relative to what you'd expect) at the entry level. i've also heard that many of the top distressed funds tend to pay a little bit less (e.g. oaktree has had that rep for years, and i can personally confirm this)
some of the HFs that have a rep for high pay at the junior levels (and again, this is highly unreliable and vary from year to year) that i've heard include: farallon, greenlight, bridgewater (hires straight out of undergrad), lone pine, eton park, silver point (also hires straight out of undie), elliot, etc., these are the ones i can think of off the top of my head. again, the only way to find out is to actually network, talk to people, talk to recruiters, etc. these "reputations" can be highly subjective and can change quickly (same thing happens in PE, just look at what KKR was paying back in 06/07... still pays a lot now, but totally different approach now)
Great info - thanks
Citadel offers amazing compensation at junior level. but of course, it's a very tough place to work at.
Re distressed debt, I heard Avenue pays less than 200 all in post-mba. Is this true?
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