Pay at Elliott
One of my bschool classmates is heading to Elliott after graduation. He is being cagey about comp (was previously at a top MF). Anyone have any insights in the comp progression there?
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If he is being cagey, it's more than you are imagining.
What a classic WSO post. WTF does it matter what your friend is making? Are you upset that he's going to make more than you?
It's probably one of the best seats in the public equities world. They have the economics to pay every investor $1mm+ no problem. As a multi strat, you're also assuming a lot less key man risk than at a pure single manager. It's not like PE where there are a lot of 1:1 comps so its less uniform both in terms of absolute $s but also in terms of structure (salary vs cash bonus vs. carry vs GP points, etc.)
“Asking for a friend”
I think you know whose really asking. Doubtful it is anyone other than the person asking.
speaking secondhand, i understand the post-mba number is prob pretty good. but i don't know if i agree re: perspectives on best seat, etc from comp pov. as i understand, firm operates in many ways like a PE firm, with highly centralized control for core investment decisions. also understand that sr folks have consolidated power and economics in recent years. think it's prob a very good number by general human standards. but are you positioned to really eat what you kill? not like in other setups ala MM. like singer created this giant mousetrap with tons of infrastructure to throw off a very dependable MSD-HSD net (which prob has low key a bit of returns coming from PE and RE investments). And they hedge mostly every position, with portfolio overlays on top. their view is that no single position matters as a reason for PM or analyst #75 to get paid out the nose. Some obvious exceptions for true hitters there that move up. but i think, as with anything else, you don't typically get equity-like career results without taking equity-like career risk
What numbers did you hear?
Who ISN'T cagey about their comp? It's a private matter. And the fact that he's headed for Elliott says it all
What an awkward conversation. Do you guys actually ask your friends for hard numbers? Across my friend group with people in PE, HFs, PC etc I’ve never had a comp convo aside from 1) high level ranges when switching jobs or 2) something like “happy w bonus?” “yep” “sick let’s go out”
ikr? OP is def the hardo in school who pestered everyone for their exact scores after an exam result was released
Talk openly about comp with all my friends but we are still fairly junior
We do. But then it just turns into a big dick measuring contest. And that’s hard if you don’t have a dick to measure.
He’s well paid. It’s not as high as you’d think, but if he can stay there for >7 years he (and everyone that makes senior analyst/partner/pm level at comparable multi strategy funds) will be extremely, extremely well compensated. I actually don’t know anyone that senior at Elliott, but the senior people I know at the other multi strategy funds have 9 figure net worths. Definitely not an easy path, but those folks have created generational wealth and aren’t that old
Agree with the above but I will say that getting to that level over the 7 year period (or whatever time frame) is incredibly difficult and requires combination of great PnL, luck and alot of politics.
How old are they on average?
What other multi-strat funds are you referring to?
Elliot actually pays their analysts/associates slightly less than direct competitors because the firm knows these guys can’t do the same thing elsewhere. PM payouts are smaller than the 15-20% you’d see at a platform and are somewhat discretionary, even at the PM level.
They still make good money, but it’s not as amazing as everyone is suggesting here.
What would you expect as a broad strokes range for first year post-MBA comp there? I'd imagine it still must be fairly compelling given the candidates they're competing for are often times also considering UMM / MF PE at ~$500-550k cash comp + sizable carry given the typical pre-MBA background.
Assuming their post-MBA role is the same role as their post-PE role, I don't think its that high. But feel free to correct me if post-MBA starts higher up
Well of course your friend won't *tell* you his comp number! The trick is to casually say to him, "There's this cool website called WallStreetOasis where people anonymously post their comp ranges and YOE, it's really useful for getting transparency on whether you're paid fairly or not...Anyway, want to get dinner now?" Then wait a week and log on here and look for new posts about Elliott...
OP did but his friend was being cagey about it.
Jesus the Nazi mods on this site is outta control
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