Median MM career length and career earnings?
What are your estimates of median podshop / MM career length and career earnings? L/S Equity side. Looking for ranges.
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Depends what level you join. If out of banking - median is probably 3-4 years before you get dinged and go somewhere else for another 2 years.
Median income is no better than banking with more stress and churn risk. 2-4 years makes sense before hopping (either voluntary or involuntary).
Top quartile, you start making 7 figures 3-4 years in. This is assuming large MMs (Citadel, P72, Baly, MLP). Not pods running 100-300m books.
Top decile, you have multi 7 figure years as mid level+ analyst.
Do top quartile for 3+ years and you can become a fledgling PM at a respectable shop.
If median income is really about the same as banking sounds like a pretty good deal to me. Most PE seats have a lower median income than IB.
I think median income is slightly worse than banking but might be biased given last few years.
Top quartile of analysts are making 7 figures at 26-27? I’d take the other side of that.
I was told a large MM: the median pm comp in any given year is 2.5mm give or take 100k.
Yes I agree with 7figs for top quartile analysts. But by this point analyst and sub PM is semantics.
is it really that high? does this include the ppl who got no comp/fired or is it only the "survivors"?
I said top quartile, not median.
Top quartile PMs make 4-6m. PMs usually take 50-70% of bonus pool.
Mathematically that means there’s 2-6m to go around for the 1-3 senior analysts in the team. Not hard to deduce they make 7 figures.
Again I’m not talking about 100-200m books. I’m talking about real teams at largest MMs running 500m-3bn.
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