What was your biggest bonus of your career? lowest bonus?
Also would be helpful to know the type of fund
I'll start:
big 4 pod shop, 5yoe
biggest bonus: 450k
smallest bonus: 50k
Trending Content - Hedge Fund Forum
Career Resources
following
who do people continuously do this on this site? it's fucking anonymous, who cares
Largest: the last poster’s + 20%
Smallest: the last poster’s + 100%
There, summed up this thread and all others like it
largest - 200k
smallest - 0
i'm not very good at my job
Largest - none of your god dam biz
Smallest - none of your god damn biz
Where I work - none of your god damn biz
Yoe - none of your god damn biz
it would have been easier to simply not post
Just so I don’t get a million follow ups tried to be direct. 14Y experience. 2 IB, 12 MMHF. PM for ~5 years. Been at 2 firms (both big 4 pod shop), so NOT counting the guarantee I got:
Analyst lo - $125K bonus ($250k all in). Sr Analyst hi - $3.5M all in
Analyst lo was actually my first year and I was somewhat upset/nearly left firm. Analyst hi - I had a pretty large sleeve with decent take…worked for fantastic PM.
PM lo - $1.5M all in. PM hi - $7M
I haven’t had a down year as a PM yet which is why lowest PM comp is still 7 figures. Lowest PM comp year was an okay year. Average PM comp excluding guaranteed comp/upfront $ has been a little over $5M. By no means do I put up outstanding #s, many guys who do much better than me. This industry (especially big 4 pod shop) tends to attract type A highly competitive people. As you get older you’ll see comp isn’t nearly everything. It’s just a bonus. I like to think I have the greatest job in the world, if you love what you do the $ will follow.
Still learning the ropes.
what sector(s) have you worked in? congrats
TMT
What percentile outcome do you view this as for someone who enters MM HF as a junior associate? What % of people make it to PM, and what % of people survive in PM seat for more than 3 years?
I’d have to think about the actual numbers. I really wish someone had stats on this. Biz Dev does but who cares we can guesstimate
I’m probably a ~ top quartile PM/outcome (msd M). Not top decile. Top decile would probably be the PMs that make well over $10M, and in between top quartile and decile would probably be those in the consistent hsd - ldd $M range. The average PM still gets paid a lot...not like the average pod is losing $
I think a top quartile Jr analyst (I was an above average jr analyst but not one of the best) that can become an above average sr analyst can then become a top quartile PM. NOW… it’s a very difficult question to answer because an average Jr analyst can be an average Sr analyst and then become a PM with time/average perf on their sleeve, but then kill it as a PM and be in the top decile group. So it’s a bit of a flawed analysis/question really hard to answer. But generally there’s some strong +ve correl between being a good sr analyst and an above average PM.
It’s quite a few levels to jump through but much of the fizzling out takes place at the jr analyst level I think. Long way to say, I know many PMs with outcomes like mine or much, much better. My outcome is what you’d expect for a young above average PM… I think. Some may say average / 60th %tile.
I worked for a great PM, did well with my own sleeve, and got a shot at PM. On a bn $ book you could easily achieve what I make, even with a take 20pct. It’s purely mathematical and yeah it gets really freaking hard at times but it’s not rocket science. You can kind of engineer these outcomes once you get the seat…
Curious what sort of PnL on an absolute dollar basis you’re putting up for those sort of numbers. Rough ranges are fine ofc.
$40-$70. There are (probably a handful of…under 10 in L/S) teams at my firm that can do 150+ on bigger books with higher take than me. Then incr larger cluster of teams in 100-125 range…talking about medium to good performance ranges
Really helpful info. Very impressive numbers--particularly sr analyst hi.
How would compare the hours worked as an analyst vs. PM? How about stress levels?
The things that you do, how does it actually work? Do you handle an equity sector (Telecom in this case), get deeply obsessed with the companies, follow news and catalysts/events and act swiftly when new information is published? If so, is this done all by yourself and your analyst, or do you have a team of quants or equity research people providing strategies to PMs?
@OP is your 5YOE all at the pod shop?
what was 450 as % of pod bonus pool?
Exercitationem eos est aut porro quia libero voluptatibus dolor. Quis quisquam ab cupiditate sint perferendis et odit. Asperiores id accusamus nemo velit pariatur non eum. Mollitia est facilis est.
Magnam quasi assumenda eum tempore repudiandae nihil. Eius id ea qui natus deserunt reprehenderit est. Est cum alias voluptatem consequatur consequatur quis ut. Asperiores temporibus autem velit aut aliquam.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...