Any of you guys hearing about pay raises following the pay bumps in IB? As someone who recently quit IB to join a hedge fund (which I think is a lot more stressful/difficult), I'm a little annoyed to see second year analysts making more/as much as junior analysts at L/S hedge funds...
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If someone focuses just on salary without focusing on bonus upside at hedge fund, one shouldn't be thinking about working at a hedge fund or buy-side in general.
Same can be said about people who focus on money in general at a hedge fund without considering their ability to create value on the buy-side (ie. pitching alpha-generating stock ideas consistently).
Why not? Of course the aim is to focus on pitching good trades but that’s assumed given it’s the job. I don’t think there’s anything wrong with OP feeling slightly miserable when IB analysts are doing dumb work and here he is trying to hustle but getting paid less.
I sure as hell am equally focused on money when on the buyside. I’m not making money for the fund for nothing- I want to get paid fairly for my pnl. I think the more important point OP needs to realise is that when on the buyside- if you focus on good trades, your net upside is higher and you just have to wait until you’re in a risk taking seat where you can attribute pnl to you and then you’ll be getting paid more than your VP in IB.
Agree. If you're in a HF and you're focusing on base salary, you haven't really understood what this is about, and you are unlikely to be successful in this field.
My point is just that some IB analysts are now going to be make ~260k all in. Junior analyst at a hedge fund can probably expect something around 300k? Which I’m not sure is a good enough premium anymore..
Two things:
1) the premium isn’t for the first year. You take the role for the potential upside down the road (cut of PnL) that will scale much faster than IB (yes, with added risk). Even with that first year will normally pay you more at a HF
2) while the job is stressful, the hours are generally much better in HF than junior roles in IB.
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