Covid adjusted bonuses

Curious how people's bonuses are looking this year. It was my first in the industry (mutual fund) post-mba as a senior analyst bonus was 16k and profit share of 14k... much lower than I had expected as I was told to expect bonuses close to 50% of comp (salary is 130k) and we knocked it out of the park this year. Are people seeing lower bonuses this year?

Comments (7)

 
  • Investment Manager in HF - Other
Jan 2, 2021 - 4:38pm

That is a bit strange, was that prorated? And was the expected bonus including profit sharing? How did the overall firm do? Did you receive any negative feedback?

I'm at a HF so a bit different but from what I've seen and from friends in AM I wouldn't expect bonuses to be any different from previous years (outside of firm getting hit hard or your personal performance being poor). 

 
Jan 2, 2021 - 6:36pm

Thanks for all of your input. I should have clarified that our fiscal year end is June 30th so the bonus was given back in June. It wasn't prorated as I had been there for a full year. Clearly the landscape has changed somewhat since June but at that time we'd been doing very well AUM was at an all time high (and still is) and our biggest funds were all well ahead of their benchmarks.

It's obviously too late to fret about it with my manager now. There was some wording in both the bonus and raise letters I got that noted management was concerned about the outlook and focused on improving comp for our account reps and backoffice staff that had to go into the office throughout. Still it felt a bit of a skimp as idle had solid reviews and delivered so quality names that boosted fund performance. Now that it's bonus season for most I wanted to see what bonuses are looking like elsewhere to have some talking points for my mid-year review.

 
Jan 3, 2021 - 11:19pm

No impact on bonuses from covid, but can't say there wouldn't have been back in the middle of the year when things looked different and I imagine most shops' management were focused on getting through. 
 

From my experience, the numbers on the bonus seem very low. I don't know the particulars of your situation or mean to be negative, but I think you definitely want to be looking around at what other places are doing and making sure you're ok with that. 

 
  • Analyst 2 in HF - EquityHedge
Jan 4, 2021 - 1:28am

Not normal at all. This year should be one of the biggest year in terms of bonus. COVID should have helped not hurt bonus/profit. 16k is way too low. 

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