Canadian Pension Comp
Hi All, I have an opp to potentially work at a candian pension OTPP/CPPIB/OMERS and was wondering what comp progression would look like. Saw there was a bump post covid along with IB but not sure what progression would look like. Have heard the hours vary group to group and office to office but overall better than most. Also is there anything besides the RRSP retirement benefit that is included at higher levels? Thanks in advance.
following
Yes you get LTIP/shadow carry generally at Senior Associate/VP levels and beyond. ASO comp is low 200s to start and rising from there. First year VP you're probably in the 500s
Any more concrete info on Associate level comp? I’m right near the low 200 mark and wondering how much upside there might be elsewhere.
I’d focus more on the trajectory and less on the exact comp for ASO1 as it’s pretty immaterial in the long run. You should be at least in the 300s by ASO3 (and group dependent I’ve even seen high 300s) for direct PE
I would say thats within market but on the low-side. AS1 is around low-mid 200s (220-260kish), usually 2-3 year promo which takes you to SA1 around low-mid 300s. Principal 1 is around 600k+
$160k+60%-90% (90% is with a 1.5x multiplier) for CPPIB 1st year associate
what's the target bonus for senior assoc and principal levels?
Pre multiplier target bonus:
Manager 75%
Sr Manager 90%
Director 125% (but 20% of the bonus is trapped 3yrs)
Sr Director 150% (40% of the bonus is trapped 3yrs)
My man said they got the deferred comp behind bars!
I work at a small-mid sized pension fund based out of toronto doing infrastructure investments (co-underwritten & syndicated co investments as well as fund investments) and i make 230K all in as a first-year associate (I also get a pension match given I work for a pension plan).
IMCO?
imco doesnt use associate title tho, unless hes just referring to the level
Are these cad or usd?
CAD
Any numbers for London?
Some of the numbers noted in this and a few other threads seem to be off-base. British Columbia recently mandated that job openings in the province now require pay disclosure transparency. BCi comp numbers are now fairly easy to ascertain. They have an ad for a Senior Principal role in their infra group now on linkedin - Base is $147k - $175k. Seems quite low to me and not sure how they are going to find anyone since they are also looking for 7-10 years of IB or PE experience.
Are you sure this for an investments seat? Investment departments also have portfolio reporting people with similar titles is why I ask. Having previously worked there, I am near certain that this is incorrect for investments as Associates are not far from that figure on base.
Agreed it's strange. It's definitely an investment role. Here's the link to the ad:Careers (myworkdayjobs.com). They also have an Infrastructure Principal role open on linkedin with base pay of $126k - 155k that requires 6-8 years of IB /PE experience.
Anyone have any sense of what a Principal on the direct PE side is paid at Toronto pension funds outside the tier 1 guys (CPP, OTPP and OMERS)?
Principal = Senior Associate so you’re looking at about 275-300 all in as an SA1
FYi this isn’t much different than what the fund/co investment teams make, but on the direct side you may get a bigger carry allocation (carry works a bit different in the pensions but it’s similar)
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