Negotiating salary for Hedge Fund position

I accepted a position at Merrill Lynch in the FADP program in Nov 19'. Shortly after I got hired the FADP program was suspended from prospecting. Shortly after this COVID. During covid we were repositioned to originating PPP loans. We are still in this position. In December an acquaintance reached out via LinkedIn that he would like to get in contact with my Broker dealer. I let him know of my current position and my displeasure of working there, and that due to my minor role I probably wouldn't be of much help. We hopped on a phone call and he stated that he didn't think BOFA was the right fit for me. I joked around and said maybe I could get a job at the firm he owns. He said "come on over!". Following this I met with him at his office and we talked for awhile and I helped him to the limited availability I could. A few weeks later his assistant called and asked if I wanted to go to New York. I said of course, but I don't know how that would happen. She stated the owner wanted me to fly out for the IPO of the Mutual fund they were announcing. He flew me out that week and I was able to be at the "Covid-friendly bell ringing ceremony" at NASDAQ. After we returned from the trip he said my participation on the trip with investors was invaluable and he wanted me on the team ASAP. He correlated whatever I did to a investor quadrupling his investment. He asked me what I would want as a salary ( I have never been asked this straightforward) so I quickly said 100k. He accepted that without blinking. I didn't discuss anything further but I am looking to move over to the Firm at the beginning of next month. What should I ask for/ discuss with him? He asked me specifically what I wanted to do and I told him I wanted to be on the sales side bringing in new business, Mutual fund wholesaler. Beyond that I don't know what else to ask for. Any info would be greatly appreciated. The firm is small 10-20 employees 50-200MM AUM  

 
 

Id eos tenetur quas minus tempore. Vero atque excepturi repellendus quis. Et aut vel non occaecati fuga in. Labore et qui ut corporis quia quasi.

Quos non numquam aut iusto nisi non pariatur. Veritatis laudantium reprehenderit ex explicabo excepturi. Sed molestiae quibusdam optio nobis nobis dolores. Nostrum voluptas tempora aut qui voluptas et sequi.

In et mollitia et dolorem. Delectus porro maxime minima molestiae deserunt. Quidem repudiandae suscipit et autem qui aut iusto. Veritatis qui assumenda error inventore dignissimos.

At adipisci quasi distinctio ipsum. Sit expedita eos eum saepe qui reiciendis. Non veritatis autem hic sit dolorum iusto temporibus. Aut eum explicabo qui inventore placeat. Placeat aperiam et dolores itaque aliquam recusandae. Libero esse corrupti molestias dicta.

Career Advancement Opportunities

March 2024 Hedge Fund

  • Point72 98.9%
  • D.E. Shaw 97.9%
  • Magnetar Capital 96.8%
  • Citadel Investment Group 95.8%
  • AQR Capital Management 94.7%

Overall Employee Satisfaction

March 2024 Hedge Fund

  • Magnetar Capital 98.9%
  • D.E. Shaw 97.8%
  • Blackstone Group 96.8%
  • Two Sigma Investments 95.7%
  • Citadel Investment Group 94.6%

Professional Growth Opportunities

March 2024 Hedge Fund

  • AQR Capital Management 99.0%
  • Point72 97.9%
  • D.E. Shaw 96.9%
  • Citadel Investment Group 95.8%
  • Magnetar Capital 94.8%

Total Avg Compensation

March 2024 Hedge Fund

  • Portfolio Manager (9) $1,648
  • Vice President (23) $474
  • Director/MD (12) $423
  • NA (6) $322
  • 3rd+ Year Associate (24) $287
  • Manager (4) $282
  • Engineer/Quant (71) $274
  • 2nd Year Associate (30) $251
  • 1st Year Associate (73) $190
  • Analysts (225) $179
  • Intern/Summer Associate (22) $131
  • Junior Trader (5) $102
  • Intern/Summer Analyst (249) $85
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
kanon's picture
kanon
98.9
6
CompBanker's picture
CompBanker
98.9
7
dosk17's picture
dosk17
98.9
8
DrApeman's picture
DrApeman
98.9
9
GameTheory's picture
GameTheory
98.9
10
bolo up's picture
bolo up
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”