Could anyone shed some light on Millennium base salaries for investment research analysts in London?
Are these standardized across pods for all research analysts regardless of experience? How much are they? Do they increase with experience?
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That's not correct. There are standard bases
Could you please elaborate?
How much are they?
Pretty sure MLP caps bases at 150k. Or at least they used to 2-3 years ago
Raised to 200k a couple years ago, but not sure if that applies to analysts or just PM level. 150k is a pretty weak number to cap salaries at IMO.
at PM level it doens't really matter since it's all deducted from your PnL at the end (unless you get fired for losing money in which case you get to keep it I guess)
If you have a problem with it join a bank
I have some news for you: you don't join a HF for the base salary.
This. If you're a non-junior analyst and you're haggling over $150k vs $200k, you're sending a terrible message to the hiring PM.
Cap at 200k. Base can’t go more than that, may ask for cash when joining but keep in mind that’ll be baked in your total comp anyways so pick your battle wisely.
Thanks a lot for the helpful response!
Is this London? And I'm guessing it's USD200k?
Yes in $. Just gently ask to get that only if your current base is much higher than that. Most get 150k
200 is right
I know comp is wildly variant here, but if you had to give an idea for the median all-in, what might that be.
Comp and pod returns follows a Pareto distribution, measures of central tendency such as median/mean aren't really useful.
Yeah great thanks dude, but some kind of gauge for all in could be useful. The answer is always too much variability to say, but it would be helpful to have some idea when weighing against alternatives. I guess people say bonus could be 100 or 300 so will assume 200 and keep the variability in mind
Otherwise not sure how someone is supposed to think about comp vs. next best option, can't just put a question mark next to anything above base...
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