How much PM/MDs (non partners) at large LOs make on average (e.g. MSIM, GSAM, T Rowe)?
Also, is there commonly a revenue share of profits even as a non-partner?
Focusing on the $5bn+ AUM world.
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It is highly variable depending on the person, and is the result of individual performance, fund performance, and company performance. Across the industry, it really just depends on where you work. At my company, PMs get stock and RSUs for their performance.
Say a 10bn AUM LO PM w 50-100bps net alpha per annum - avg?
Again I can't give a specific number. Usually you'll get some "cut" of the revenue of your fund, but it will all come in stock at my company.
The overall net worth of people at the company is also HIGHLY dependent on the stock price, and many PMs made rash decisions as a result of stock movements.
Had a family member that was a PM at one of the big LO mutual funds, you make absolute bank. $10M+ a year, clearing $20M in a good year. Do the math on a (conservative) .5% management fee and it makes complete sense - a $20B fund is spitting off $100M a year.
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