SM - Non-Investment Team Partners Comp
I work in a large SM ($8bn+ AUM). I am on the path to partner (most long term employees 6+ years tenure become partner). Although, I work in a non-investment team function. I am trying to plan my future as I have other opportunities that I could pursue in the short term. Short term the other opportunity offers +50% more annual comp, but there is no partnership route and it is a MM.
I have no idea, but I would imagine a newly minted investment team partner would make $2-5m in an average year (given $500m-1bn AUM per IP) and 10-15% return. Given these numbers, what is a newly minted non-investment team partner likely to make? These numbers may be completely off the mark, if so, what is more likely?
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Sorry just had a few questions for you:
Looking at HF exits and just trying to get a better understanding of comp — thanks so much!
For what role? IR?
what function are you referring to? a "COO" partner or "chief legal officer" partner is going to be different than an "HR" / "operations" partner
Trader (Execution Trader) type partner.
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It’ll depend on how they structure the comp and how much of the fees they give non investment professionals (vs how much is guaranteed). Some firms give partners more variability, regardless of role. Execution trading is on the line between investment and not, so I would expect it to be decent but definitely not as high as investors.
Your numbers for investment professionals for “new” partners is about right. On a standard year junior partners at my firm make ~$2-3mm, with about $1mm of that guaranteed and the rest based on performance. I would expect closer to $1-2mm for trading (junior partner).
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