Investor relations - advice on further moves (London)
Hi all,
I am an investor relations VP in a hedge fund with USD10bn AUM in London. I mainly look after existing clients (no business development, just assistance with presentation preparation) and I am also helping one of the teams with a niche product. I am wondering what is the best next move for my career. There are several questions that I am trying to answer (your help will be highly appreciated):
1) Are product specialist roles regarded as being better than IR positions by the market?
2) Should I focus more on the product to become a product specialist? Are product specialists paid better than IR (assuming the same seniority)?
3) Is there a big pay gap between hedge funds (10bn and more) and top tier real money shops (Blackrock, PIMCO, Wellington) for IR and product specialists in London and other financial centres?
4) What is the gap in IR and product specialiat salaries between London and other financial centres (New York, Dubai, Singapore)?
Your help will be very much appreciated.
Many thanks, IRhedged
Based on the most helpful WSO content, here’s a breakdown of your questions:
1) Are product specialist roles regarded as being better than IR positions by the market? - Product specialist roles are often seen as more technical and closer to the investment process compared to traditional IR roles. They require a deeper understanding of the product and strategy, which can make them more attractive to the market, especially if you’re looking to pivot into investment-related roles or more strategic positions. However, the perception largely depends on the firm and the specific responsibilities of the role.
2) Should I focus more on the product to become a product specialist? Are product specialists paid better than IR (assuming the same seniority)? - Yes, focusing on the product and building expertise can position you as a product specialist. Compensation-wise, product specialists can sometimes earn more than IR professionals at the same seniority level, especially if they are directly involved in strategy discussions or client-facing technical presentations. However, the pay difference is not always significant and varies by firm and region.
3) Is there a big pay gap between hedge funds (10bn and more) and top-tier real money shops (BlackRock, PIMCO, Wellington) for IR and product specialists in London and other financial centres? - Hedge funds and top-tier real money shops like BlackRock, PIMCO, and Wellington generally offer competitive compensation, but the structure differs. Hedge funds may offer higher bonuses tied to fund performance, while real money shops often provide more stable compensation packages. For IR and product specialists, the pay gap may not be substantial, but hedge funds might edge out in total comp during strong performance years.
4) What is the gap in IR and product specialist salaries between London and other financial centres (New York, Dubai, Singapore)? - New York typically offers the highest compensation due to the size of the market and cost of living. London follows closely, with slightly lower base salaries but competitive bonuses. Dubai and Singapore can offer tax advantages, but base salaries might be lower than London or New York. The gap can range from 10-30% depending on the role and firm, with New York often leading in total comp.
If you’re considering a move, focusing on a niche product or transitioning to a product specialist role could enhance your marketability. Additionally, exploring opportunities in New York or Singapore might provide a compensation boost, but weigh that against lifestyle and tax considerations.
Sources: Thoughts on Investor Relations? A good or bad move?, What’s the deal with Investor Relations?, Credit Hedge Fund opportunities, what's IR / capital formations like?, Fork in the road: Career path in Asset Management
Thanks a lot for the reply. Any other colour, insight, views?
Is anyone able to help? Does anyone have links to compensation surveys for AM/hedge fund investor relations roles?
Is anyone able to help?
for the UK market – I have a detailed salary guide provided by a contact at a leading recruitment firm in London. PM me if interested, and I can share it
What is your comp at the moment?
1) Yes, generally Product Specialist type roles are generally higher-paying (in my experience) vs pure “IR” roles per the market. This is because you are expected to have more technical expertise/depth and rely less on deal teams to explain concepts to investors. “Pure IR” roles tend to be more project-management focused/junior while Product Specialist tends to be more LP-facing.
2) Yes, you’ll have to dive deep on your product, theses and asset class to be marketable as more of a product specialist. I’d recommend spending more time on the strategy piece when doing your day-to-day IR job (e.g. working with your Head of IR on the more of the strategic messaging behind your AGM or Quarterly Letter vs just regurgitating information/copy-pasting last year’s precedent).
3/4) Am unfamiliar with the comp delta between London and other financial centers within the HF space and other shops. Generally like the WSO bot mentions NYC will pay the highest. One of your closest comps could be Viking (which has an IR Product Specialist role) - unsure of total comp but I’d recommend looking at the usual market reports (Heidricks & Struggles, Odyssey Search Partners, etc.).
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