LO Asset Management Comp Update (At Top 10% Shops)

Hey guys, was curious to get a LO AM comp update at various levels. Obviously lot of info on this site, but much of it is 5-10yrs old when the industry was in a much better place (clients at my shop for instance used to come in at 50bps, today it is 40bps -- and this is not even the worst, I know clients at another top shop at coming at in 30bps which is absurd). Anyway, specifically looking for the updates for top 10% of shops that are actually doing well at various levels including:

Junior Associate (Entry Level): 

Senior Associate (2-4yrs in):

Junior Analyst (5-15yrs in):

Senior Analyst (10-20yrs in):

Leaving out PM in this case that can be more wildly variable on performance / AUM levels / etc which is not to the same extent as levels below. Much appreciated 

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Comments (7)

  • Intern in AM - Equities
Nov 21, 2021 - 10:00pm

Interested--since recruiting isn't as standardized in LO AM, especially at the associate level, I feel like comp figures can be all over the place compared to IB. As an intern at an AM that's well-regarded for equities, I've heard that analysts start at 300k+ TC and it scales from there. I've also heard from someone who's entering as a junior associate at another AM--also very well-regarded for equities--that starting comp at that level is around 120k-130k. 

Nov 22, 2021 - 11:08am

Can only speak on post MBA analyst - concur with guy above me that ~$300K is the right ballpark. Path to low seven figures pretty clear cut for an analyst with solid performance / coverage. To make more than that you need to be a PM or a Partner at one of the Partnerships

Nov 22, 2021 - 4:21pm

Yup, I've heard 300k starting is the right benchmark. Though I don't know that low-7 figures is achievable for most senior analysts anymore. Agreed that would have made sense 15yrs ago but that was when fees were >70bps (sometimes even 100) while today it is closer to 30-40. My impression is that for a sr. analyst the comp is closer to 500-700k. Still good but nowhere near what it used to be. Obviously for a truly top tier senior analyst at a top shop I can see 7 figures but for vast majority that will be out of reach (ex being in the partnership)

Nov 23, 2021 - 2:44pm

Very generally speaking, industry wide:

Jr. Assoc: 85-100k

Sr. Assoc: 100-150k

Jr. Analyst: 200-300k

Sr. Analyst: 300k+

As I'm sure you're all aware, it really depends on the firm; my estimates are probably skewed downwards a bit, but that's what I've seen. Some of the lower paying shops out there have been raising base and bonuses to stay competitive which has been a decent sign. I know shops where relatively senior analysts (10+ years exp.) are "only" pulling 300 or so per year. Personally, I think that's still a great line of work since you're "only" working 40-50hrs a week generally and the work itself is incredibly enjoyable if this is your thing.

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  • Intern in AM - Equities
Nov 23, 2021 - 5:13pm

Can I ask what factors would make an AM firm pay relatively less? (AuM per head, maybe?) It feels like there's a big gap between a very senior analyst making the same as a fresh analyst at another shop. Same with a new associate making 85 vs 120 at different places. To be frank, I haven't been exposed to many different kinds of AM firms, and possibly it's typical that pay varies widely.

  • Associate 2 in PE - LBOs
Dec 3, 2021 - 3:15pm

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