Hedge Funds COMPENSATION (London/EU)

Fellow monkeys: do you know the compensation at Hedge Funds in London? If you could provide info you know with certainty about: 

 

  • fund name

  • level (analyst, PM, ... - with years of previous experience)

  • compensation (fixed + average bonus)

 

that would be helpful - specifically for LONDON/EU! 

I met one guy from distressed HF in London (3.5B AUM) which recruits from undergrad, whose 1st year compensation is about £150,000/160,000 (including bonus). 

Share your info, I guess many are interested!

Comments (20)

 
  • Quant in HF - Other
Nov 2, 2020 - 11:18am

I can share something for quant-related roles (QR, QD, front-office SWE like C++-guy).

 

The most "elite" places can pay a lot to fresh grads in London. The numbers I have seen are up to 300K recurrent first year comp (with sign-on the upper bound I have seen is 400K GBP). The median (and ofc mean) is way lower. For companies like Citadel/Jane Street/HRT/... you look at 100-150 GBP base + bonus in the range of 50-150K GBP recurrent. But I would not really bet on getting significantly more than 100K base for fresh grad since getting more requires many factors to hold simultaneously (such as top firm, good interview perf, good background, etc). Safe to assume the average offer in these places is in the region of 200-250K GBP first year.

 

At less "elite" places the numbers are much more sad. Safe to assume something in the region of 150-180K GBP in the first years.

 

Edit: this analysis is for quant-related and tech positions. They tend to pay more upfront but the growth could be limited at ~600-700K GBP for senior employee. Have no idea about other areas of the business. Places like Citadel/JS/HRT are the most famous ones that pay upfront A LOT. 

 
  • Principal in HF - Event
Dec 10, 2020 - 9:24pm

 

I can share something for quant-related roles (QR, QD, front-office SWE like C++-guy).

 

The most "elite" places can pay a lot to fresh grads in London. The numbers I have seen are up to 300K recurrent first year comp (with sign-on the upper bound I have seen is 400K GBP). The median (and ofc mean) is way lower. For companies like Citadel/Jane Street/HRT/... you look at 100-150 GBP base + bonus in the range of 50-150K GBP recurrent. But I would not really bet on getting significantly more than 100K base for fresh grad since getting more requires many factors to hold simultaneously (such as top firm, good interview perf, good background, etc). Safe to assume the average offer in these places is in the region of 200-250K GBP first year.

 

At less "elite" places the numbers are much more sad. Safe to assume something in the region of 150-180K GBP in the first years.

 

Edit: this analysis is for quant-related and tech positions. They tend to pay more upfront but the growth could be limited at ~600-700K GBP for senior employee. Have no idea about other areas of the business. Places like Citadel/JS/HRT are the most famous ones that pay upfront A LOT. 

My experience for NYC area funds would be lower at the bottom end and higher at the top end. Your first year number translated to USD is 50% higher than mine would be and my senior employee number would be 50% higher than yours would be. Netting out it means that you see career comp growth of 100% and I see it as 300-400%, which seems like a big difference. I'm speaking of roles in the quant space which have some tech component and some investment component. Pure tech is more frontloaded, pure investment more backloaded (and with most people never getting to those higher numbers) 

 
Nov 2, 2020 - 11:41am

Not saying I don't buy it but these levels are VERY high, not sure why/how they get away with paying junior people that much unless they have directly impacted p&l that year. My own experience / friends is realistically £60-80k base + 50-100% bonus in the first 2-3years at L/S $5-10bn AUM single manager funds. 

 
Nov 2, 2020 - 11:57am

Just look at OP's profile, he's applying to SA's and is asking about PE/HF comp. There is about 3-5 HFs that do recruit from UG across strategies, of which 0 that are in the distressed space to my knowledge - but OP happy to be proven wrong in a PM 

 
  • Prospect in IB-M&A
Dec 13, 2020 - 6:26pm

Two datapoints from people I know in London:

One is a quant fund, not as famous as the others but still massive >10bn AUM (according to their latest filings, lmao >100% yoy AUM growth): 135k first year total

Other is one of the bigger and famous quant fund >10bn AUM, but not for their quant strat: 150k first year total

Also statement about top being 100k is false, pretty much any decent buyside (HF/PE) gig will pay >120k right off the bat, and some EBs start scratching that number. 

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