Millennium Quant PM
Was recently told that a previous gradstudent in my program (who is now a Senior PM at Millennium running a quant strat) cleared 150mm last year in total compensation (including defferrals). Is this actually possible? Can any one confirm such high comp is possible for regular hedge fund employees that are not partners or the hedge fund manager himself? It seems way too high for a single employee to make.
Only 150MM? That’s rookie numbers, I earned 50 Gazillions last quarter
MLP doesn't have deferred comp.. so clearly person doesn't know what he's talking about
interesting. Figured as much, do you think such comp is even possible though? MLP manages 50B and has 5000 employees. It seems like theres not enough money to even go around to pay a PM this much.
With an absurd payout ratio (30%+), and it was a single person pod, and low costs (assume mlp picks up all data/server/fees), then they would have had to clear 500M+ in PnL. For context, a 100M PnL year would be huge for even a very large pod at any of the platforms from my experience.
People in industry tend to exaggerate their own comp + performance, sometimes comically.
Easy to do if there's not a good way to check
I keep hearing similar anecdotes, but I am honestly doubtful.
These people are broke. They make so much (maybe make like $10M or smtg, which is rich by any measure) yet feel the need and insecurity to cap that they make $150M. 'Wealth is the difference between what you have and what you want' - Morgan Housel. By that measure, these people are broke af
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