Comments (16)

 
Sep 13, 2020 - 11:08pm

Comp at mega funds can be quite solid. It really depends though. Like something like Lazard or Doubleline is different than the super corporate structures of say Wellington/Fidelity.

I'd say pick a few names specifically to get more feedback.

That being said the largest shops have some public info out there. PMs can do $300,000 to $1M probably not including benefits and stock/bonus etc. Share of PnL is not always an option but it's out there.

There's been other feeds on this as well.

 
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Sep 15, 2020 - 12:41pm

Out of college, the all-in comp is a bit lower than IBD.  First couple years $110k-150k, then ~$200k by year 4.

For post-MBA analyst roles, have heard starting all-in comp is $325k-375k.  Should scale up a lot over time, but $500k-$1M is a good ballpark and comparable to what you'd make at a HF.  This increases significantly if you make partner.

 
Sep 20, 2020 - 2:46pm

Glad this question is being addressed because I was about to ask the same thing. There are so many data points for IB on this site but it seems like there are only data points on entry level asset mgmt. comp (probably 100-140 out of undergrad for large AMs) and analyst comp out of mba programs (I'm seeing 275-350 at fidelity, wellington, etc. as of ~3 years ago). Additional data points from glassdoor/transparent career:

Transparent Career

-Sr Associate at dodge & cox made 180 total (1 entry, per LinkedIn this is usually a third year salary)

-Associate analyst @ T Rowe made 145 (5 entries, not sure if first year or second/third)

-equity research associate @ capital group made 159.2 (2 entries, not sure about experience level)

I can't tell when these entries were made, but I believe they're all within the last 5 years or so.

Glassdoor –

Alger pays 235 for associate analyst (3.5 years of experience on avg per linkedin profiles)

Alger equity research associate - ~180...128 base plus 53 bonus avg. (4 entries - seems to be more senior than their research associate salary data, though not exactly sure. Glassdoor says all 4 entries fall under 1-3 years of experience so I'm guessing this is a third year salary)

Dodge & cox - senior research associate 170k (145 base + 25 bonus in 2019)

Brandes sr associate – 170k (looks like usually a third year salary, though could be a fourth year)

 

Is this a realistic progression for someone with decent performance at a large mutual fund (skipping MBA)

1-110

2-140

3-175

4-210

5-250

6-300-325 (likely first year as analyst)

7-375 (where an MBA would typically come in, but likely at slightly lower comp I'm guessing)

 

I figure someone in their 8th/9th year could make 500k+ if they are a good performer. At that point, I imagine comp really starts to vary. I'm a second year SS research associate, so I could be wrong. Happy to hear what you all think about those numbers.

 
Sep 23, 2020 - 2:09pm

Some of the numbers above look a bit high. I can tell you a Brandes senior associate is somebody with 5+ years experience and the 170k would be their total comp, not salary. The D&C, T Rowe, and Capital Group numbers look about right.  

Comp numbers will vary significantly based upon AuM, your team, performance, etc. once you hit the 7+ year /post MBA mark. It's not like a law or accounting firm where comp is tied closely to title or # of years experience. 

Keep in mind that a lot of firms have declining active AuM and management fees are under pressure, so it's not like the comp pool is growing for the industry. If anything its shrinking at most firms.

 
Dec 28, 2020 - 2:05am

Typically, there is more uniformity of compensation at very large long-only asset gatherers than smaller ones. Still, there can be a sizeable differential for similar-looking analyst jobs even between the large shops.

For decent-sized, performance-driven funds on either east or west coast, with 6-10 years of experience, it is fair to expect a total comp of $300-400k (or more).

Normally, profitability is a more reliable indicator of compensation than just the size of AUM.

 
Dec 30, 2020 - 8:42pm

This is correct. It will hold true for plenty of 'mid-tier' places too. A high-quality mid-tier place is going to want to be competitive with top-tier for quality candidates - they just need less of them. So pay works out similar. $300-400K is quite reasonable 1-2 years out of MBA at many places. 

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