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Work in HY stressed/distressed credit at large credit HF, ~60 hours a week, 5 YOE and ~450k for last year's comp
What type of backgrounds do research analysts have at your fund? Banking or credit trading?
Is 5 YOE a 2016 or 2015 grad?
2017 grad in credit - 50-55 hours a week, ~400k last year
U at a MF?
What kind of background do the people you work with have?
Would be helpful to hear location as well
Following
4 YOE, $475k. Distressed credit with >$5B AUM.
Similar question to the above, does 4 YOE count as 2017 or 2016 grad? Thanks
what was your background before your current role? Lev fin, rx or Distressed trading?
6 years of experience, at a fundamental L/S equity group within one of the big global asset managers (does pretty much every asset class / strategy somewhere).
Team runs ~$5bn, 45-50 hours/week. ~£250k last year (London based).
when talking pounds in normal times I just consider it $1.5x. Is that £250k ($375k) all-in normal for you? or was that a big bump just bc 2020 was abnormal? Surprised to see that at a behemoth AM.
It's a 'top bucket' outcome with the way our comp structure works, and some of that vests over a few years, but yeah pretty normal. This was my first year with a 'VP' level title which involved a decent bump vs 2019, but I have no reason to believe it won't be similar next year. Comp is not as closely tied to team P&L as it would be at a standalone HF which means it's much more predictable.
Total comp is much lower than it would be at an equivalent standalone HF with a direct P&L payout structure - we're a tiny team running ~$5bn gross long value (market neutral overall) doing annual P&L of >$500m so you can do the maths on that. Flip side is a) job security, b) work-life balance, c) support resource from the wider organisation d) we'd never be allowed to construct a portfolio like the one we have at a MM platform or a fund with monthly liquidity and tight risk limits.
Does pay differ in credit vs equities?
REPE acq associate - first year - $120,000 all in + carry - 50-55hrs per week tops
Analyst at $10bn+ single manager, 5 years of work experience. All in comp $1-3mm per year depending on team and individual performance. Work 50-60 hours a week normally and 70-80 during earnings. Came from Wharton / MF PE analyst and turned down a top tiger fund (e.g. Viking) for this role.
Curious on the structure of your compensation. Do you have carry/equity in the fund?
To get a similar role from UMM PE. Would you recommend recruiting now, or lateraling to a MF first? Not sure if MF PE is a hard and fast requirement funds ask headhunters to filter against.
Hey, would you mind sharing your path / trajectory sing UG? We're you Wharton UG or MBA? I am Wharton UG. Would appreciate any advice you can share i.e your concentration, clubs, first job out if UG etc.. thanks.
Hi, I am in a very similar situation as you, only I am a senior and will be going into MF PE after graduation. What strategy is your fund, and any reasons for turning down the top tiger offer? I always thought that those seats were the most coveted and paid more than all the other funds. $1-3mm sounds unfathomable to me, how much do the PMs/Partners make at your shop (must be over 10 jeez)? A kid can dream, and I'm sure you're a role model for many kids on this forum-- keep up the good work bro.
These are really big numbers. Kudos to you and whoever can land a seat at one of these places. Hopefully, most people on here don't think that this is the norm.
.tb_button {padding:1px;cursor:pointer;border-right: 1px solid #8b8b8b;border-left: 1px solid #FFF;border-bottom: 1px solid #fff;}.tb_button.hover {borer:2px outset #def; background-color: #f8f8f8 !important;}.ws_toolbar {z-index:100000} .ws_toolbar .ws_tb_btn {cursor:pointer;border:1px solid #555;padding:3px} .tb_highlight{background-color:yellow} .tb_hide {visibility:hidden} .ws_toolbar img {padding:2px;margin:0px}I’d also like to know the trajectory. Were you Wharton Undergrad or MBA?
Sir any responses to any of the above questions? I'm sure many kids on this forum would significantly benefit from advice from someone as accomplished as you!
Hey - replying here.
* no carry or equity in the fund, all compensation is discretionary
* do not recommend lateraling from UMM PE to MF PE. If you know your stuff and are well prepared you can get a good HF job from UMM PE.
* Wharton undergrad. My first job out of undergrad was MF PE. Won't share any more on my background for privacy purposes.
* Choose my fund for people, culture, and investment style. My compensation is very good and more than I will ever need if I continue to do well.
* @hominem - thanks for that. Appreciate your contributions here.
I'll throw my hat in the ring I guess. I'm 27, working at a Tiger-adjacent fund (i.e. not one of the OG Tiger Cubs, but part of the same family tree) and moved over after 2 years BB IBD + 2 years UMM PE. I honestly kind of hate my job though. I find public mf
mind dm'ing? curious to hear about your experience / why you dislike it. on the growth equity side now and loosely considering HF - don't think I'll actually do it, but would be curious to hear more sides against.
I'll throw my hat in the ring I guess. I'm 27, working at a Tiger-adjacent fund (i.e. not one of the OG Tiger Cubs, but part of the same family tree) and moved over after 2 years BB IBD + 2 years UMM PE. TBD on all in comp but I've been guided to $500k all-in.
I honestly kind of hate my job though. I find public markets to be very boring and I find myself going through the motions, not really digging in or being proactive, and generally sleepwalking through the job. I'm in the office 70-80 hours a week because that's how long the other junior folks are here but I'm probably "working" 50-60 of those and just dicking around on the internet, getting coffee, looking at memes, etc. the rest of the time. I haven't had my first review yet but expect it to be mediocre to meh but not bad enough to get fired, which is fine by me. I'm planning to apply to business school next year to chill for a bit before figuring out what to do with the rest of my life afterward.
Is there that much of a FaceTime culture?
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