HF Bonus expectations
Ignore my username title I just can't be bothered to change it.
I'm coming to the end of my first year as a research analyst at an equities l/s fund and have my bonus discussion coming up.
My background: Prior to this I spent 3 yearsanalyst so I'm coming to 4 years total experience.
Current AUM: $200m
employees: 5 (investment team) and 6(tech support, finance etc..)
Pay structure: 20% performance fee above a 10% hurdle (annoyingly we have a very high hurdle rate)
returns: in the last 12 months overall we made around 25% which is approx $40m, after the hurdle rate that leaves us with around $24m and then taking our performance fee gives us around $5m in fees for 11 people
Despite being in my first year / the most junior I actually pitched a company I loved to the team as soon as I joined and they all liked it and agreed with my proposal to invest, this investment actually proved to be our most profitable investment for the last 12 months, we made over 100% returns on this trade which countered some losses in other assets and so a decent amount of that $5m performance fee came from my investment, our performance fee from my investment idea alone worked out to be a little over $1m. I now have my bonus discussion coming up and want to know realistically how much I could expect? I feel I deserve a lot given my idea was the most profitable, e.g. one of the reasons I chose ais so I can be paid based on my contribution rather than based on politics/hierarchy in places like banking and PE but at the same I understand this is only my first year as a research analyst at the fund and I'm not a PM so my bonus isn't linked to PnL
What should I expect given the above?