To avoid making this vague and too hypothetical. Let's say you join a firm like Viking or Baupost as an analyst 1 or 2 years out of college. What is the "average" progression that people at one of those two firms can expect? What does compensation look 2/5/10 years down the line? Is pay significantly lower than that of someone who joinsand becomes a senior managing director 8-10 years after joining? It seems like at the senior MD level is an order of magnitude higher based on what I read in the WSJ (or the houses being bought in the UES by these guys).