Top Fund of Hedge Funds - Compensation, Lifestyle and Career Path?

Any data points on 1st year associate compensation for top fund of hedge funds (GS HFS, KKR Prisma, BAAM, GCM Grosvenor?)

Currently an analyst at a Top BB in AM. What type of backgrounds are these funds looking for? I'm thinking of lateraling after my 2nd year. Also, any idea of what compensation might be at the MD or Partner level?

Thanks all

 

Look, the best advice I can give you -- before you focus too much on "compensation...at the MD or Partner level", first ask yourself what percentage of analysts will ever make it to that level. Then ask yourself, "yes, I'm smart and hard-working, but so is everyone else in my class, so what makes me so sure I'm going to be the one to beat the odds?"

Partners and MDs make a lot, but even if I told you the average paycheck, surely you must know that average number is almost meaningless cause the standard deviation is EXTREMELY wide depending on all kinds of factors (product area you focus on, how well your firm is doing, how well your team is doing, whether you negotiated a low-volatility/low-return compensation package or a high-volatility/high-return one, etc etc etc).

Just focus on the fact that every career path on wall street can potentially lead to huge money if you're lucky. But even if it happens for you, it's 15-20 years away and you really don't have enough information to plan for it. In the meantime, just pick whatever option compensates you well now.

 
Best Response
morgantire:

Look, the best advice I can give you -- before you focus too much on "compensation...at the MD or Partner level", first ask yourself what percentage of analysts will ever make it to that level. Then ask yourself, "yes, I'm smart and hard-working, but so is everyone else in my class, so what makes me so sure I'm going to be the one to beat the odds?"

Partners and MDs make a lot, but even if I told you the average paycheck, surely you must know that average number is almost meaningless cause the standard deviation is EXTREMELY wide depending on all kinds of factors (product area you focus on, how well your firm is doing, how well your team is doing, whether you negotiated a low-volatility/low-return compensation package or a high-volatility/high-return one, etc etc etc).

Just focus on the fact that every career path on wall street can potentially lead to huge money if you're lucky. But even if it happens for you, it's 15-20 years away and you really don't have enough information to plan for it. In the meantime, just pick whatever option compensates you well now.

Or rather which job you'd like to do for the foreseeable future.

 

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