There’s plenty of figures coming from US-based threads, I don’t see as much for London and I don’t trust GlassDoor’s numbers. Hoping to join the industry in a year or so, this is purely for curiosity.
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The other thread isn't US specific. It's just that the London HF scene is a lot smaller. Very rarely get London contributors. No point making two threads.
Besides a lot of the MMs pay in $ anyway. Shouldn't be too much discrepancy.
From friends I heard comp is formulaic - just matched with that of US peers, but converted to £. Means that those who are London-based at a HF probably relatively over-earn vs IB/PE. In the sense that those industries pay less in UK than US even after FX conversion
Would worry about getting job and surviving, rather than comp tbh. London MM PM’s rarely care about giving you real mentorship.
Best to join the training programs…
MM comp will be similar to US, maybe a slight discount because books tend to be smaller
You could’ve just said your comp numbers but instead you chose to waffle.
No need to tell a student my comp…
approx. 120 + 120 GBP
2 YOE since graduating, both at multimanager
at one of P/C/M
Thank you this is very helpful
grad program? mind sharing how comp scaled from training year to pod year?
yes I did a grad program but can't really say how it scaled as that would dox me. across the big 3 your grad scheme comp should be higher than An2/3 at a bank and assuming you don't get canned in your first year your sequential comp should be around 250-320k USD
Got any idea how much you should receive for base salary joining a MM with 6 years experience from a LO?
160 + 160 gbp. Although bonus is quoted in $, as pnl is all in $. 3-4 yoe in buy side, one of big MM. Am I being underpaid? There is no sleeve like concept in the pod, so the PM gives discretionary bonuses, I worked mostly as qd until now, but getting more qr opportunities in the team now.
i don't think many people here can help with quant comp tbh, i never understood how payouts are structured in that part of the biz
Random aside, what are the hours like in a London Big 3 as a junior?
I am joining a pod at a large MM with a base salary of 140gbp after 3 YoE.
What is the base case for bonus in your view?
Base case is: average year of positive PnL and modest positive contribution from my part.
Is 100% of salary too optimistic?
Thanks
In the 1st year, usually its guaranteed bonus written in contract. Isn't that the case? How much it is?
How much should one expect to receive in base salary joining a large MM either 6 years buy side experience (LO) in london ?
I dont know if London is not "flashy" enough, but certainly doesn't feel like that there are a lot of HF ballers around..
Showing off wealth in UK/Europe in general is considered low class which is where this whole "stealth wealth" thing came from.
I've never met a single HF PM or analyst in London that "looks like" they're a HF analyst or PM.
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