Hi everyone. I've been meeting with a fund where I was introduced by an investor. They recently asked me my current salary. I'm in consulting, so it's only about 110k/year (base + bonus). They laughed and made some sort of joke about not having to break the bank to get me on board. Did I screw myself over by being overly honest with them? I would be joining as a senior analyst. What kind of salary can I expect at a mid-sized fund that has very high performance (think sharpe > 1.5)? Also, I'm not actually interviewing with other funds. This opportunity just presented itself, so I can't use other offers as leverage.
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Laugh back at them and say you found it funny that they believed you. Then give them a Don Draper/Eastwood style stare until they crack and offer you bank.
They will probably pay you the same as the other analysts at your level even though you are making less now. Obviously now you cannot negotiate for more than others but I would think they would offer the standard comp that others on your level there are getting. No clue how many years of experience you are looking at but this can obviously be significantly more than what you are making now (much more so if you are really going to be a "senior" analyst).
Base as a percentage of overall HF analyst comp is low. Your base will be slightly better than your consulting base and when you get your bonus you will start moving towards "HF Money" If your split is 90/20 right now it might go something like 100/75-150 as a "senior analyst"
HF Compensation Negotiation (Originally Posted: 08/23/2013)
I know this is highly subjective, but I am in process of renegotiating my comp at my Special Sits fund. I was working at a tier 2 IB for 3 years and have been in my current role for 5. I have no CFA and no MBA. I am trying to figure out what my current pay should be, as I feel I am being paid grossly under street, 100K + 25K bonus. My responsibilities include, ideation, deal research, and trading strategy as well as document execution. Are there any HF compensation reports one could kindly point me to? What should I be expected to make?
SumZero just started a comp database, I'd say your comp looks more in the realm of what a 1st/2nd year HF analyst should be making (still on the lower end)
I am debating if I should just buy the glocap hedgefund report for $2000.. bah!
If you're 8 years out with 5 at your fund and you're only making $125k, your hedge fund is your Schwab account or something is beyond seriously fucked. How little must you have been making for 3 years in banking to accept that job? Almost find it hard to believe.
If you have to negotiate a comp raise at that level I'd just quit.
Agreed...this seems very off.
AUM and performance?
I think it's more along the lines of what Bondarb said. OP edited his post with some better detail (or at least it looks like it to me, maybe I just didn't notice it the first time) and it sounds more like an ops job than anything. That's probably only barely on the low end if it's an ops position... still isn't competitive comp though, you can probably do better with that level of experience.
Just started my first year at a small fund. Similar IB background but had the first two levels of the CFA completed during interviews. To me, that number looks really low especially the bonus #
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