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My understanding is each PM is given a cut of the assets he gets to manage and he decides how to allocate the money, he decides how many analysts he wants and what they get paid, even Analyst Blackberry payments are taken out of his revenue so if the PM is generous you can make a lot, if he isn't generous you won't make a lot.
Do they hire analysts straight out of college? I think they recruit at harvard and wharton, not entirely sure though.
I know they recruit at Wharton. They took 4 in 2008, none last year (they probably took no one that year - it was a pretty shitty year for the industry).
Which firms were considered the most selective among wharton undergrads? I would imagine it would be SAC, citadel, blackstone, and fortress.
I have no idea. I will be going to Wharton next year. I just took that info from the Wharton Career Placement book thing.
um...no number?
ummmmmmmmm........its variable dude not sure how hard that is to understand, if you want a number, $20 dollars.
even the base salary comes from the cut? So analysts can have different incoming base salaries depending on their PM?
i bet entry level analysts get paid a set base salary + bonus, like most places
i bet it's a base of like 60-80k and a bonus of 50-100%
Let's wait for someone who actually works at SAC to post. Our bets are as good as useless. I'm sure there must be at least one person from SAC who will post.
Base is $150,000
This is after doing 2-3 years of banking.
I very much doubt people from SAC post here.
Steve Cohen would flip shit
I know someone with 7 yrs of experience with a base of 90 and a bonus of 550 last year, just depends on your PM
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