What would it take comp-wise to move from a SM to MM?
Thought this might be relevant given the recent posts about moving over to the platforms and comp numbers coming out this time of year. How much increase in comp would motivate you to move to one of the larger funds (citadel, mill, p72, etc)? Obviously YoE, time at fund, seniority all factor in here.
I have 2 yrs banking, 2 yrs PE, 2 at current HF, making $550k all-in. If one of those funds offered me $800k+ I would take it. What do you guys think?
+250/300 sounds right. Just depends on the PM and make sure to get it in writing
How big is your fund and how lean is it? If its $7bn+ and over $500mm per head, I would stay because comp at these kinds of places can scale very very fast (have heard stories of $4mm+ for analysts). The economics can be incredible. In MM world, your comp could be $200k one year and $3mm next year, so super variable.
I'm at a $3bn fund and $300mm/investor. Analysts can make $1mm here but will never make more unless promoted to partner (which I don't see happening for a while). Fund AUM is flat
Generally pod PMs can't give you a guarantee on comp - just an indication of what your comp would be in a typical year of 3-5% returns (which are considered very good in pod world). So don't just think of it as receiving extra $300k to take on daily PnL stress - you could wound up blown out in yr 1.
Don't pods give out guarantees for the first year? Or is that only for PMs?
They give big first year guarantees depending how bad they want you
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