Yowza! This includes a guaranteed bonus of around $500K. Not sure if this person will get a discretionary annual bonus on top of that, but either way, it's a sick offer. Apparently, the job is with a "hedge fund in the northeast." My guess is it's one of paulson, soros, och-ziff, viking, or baupost.
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wtf? not possible if he didn't go to harvard
It's probably a hedge fund manager hiring his own son.
Or some guru who wrote a very impressive trading algorithm.
Could be a guy with a great record, who just took 2 years to party in business school while waiting out the great recession. Doubt this sort of job comes through OCR.
brady just
JIZZED
IN
HIS PANTS
Nah Brady is tracking down the guy and asking why he did not go to HBS. Or why the guy did not get into HBS as we speak.
Agree with above, he's either joining his HF-founder or uber-successful PM dad or he's returning to the same HF he was at Pre-MBA.
I if you read through the comments under the article, someone mentions that he was a 3rd year analyst with the firm that left for b-school and then got rehired. Obviously there is no way to tell if that is true or if the person who said that actually knows the facts, but as you mentioned, that is probably the case.
Regards
I think the most likely explanation is that he's returning to the HF he was at previously.
OMG SO MUCH MONEYS! HE DIDN'T EVEN GO TO THE HARVARD!?
You must track him down and insult him for not going to Harvard and enjoying the 2 best years of his life all the while buying bottles and being king of the town.
W.T.F.!!!!
BRADY WHY YOU THROWING SHIT WHEN IM COMPLIMENTING HARVARD BRO
I searched for him on Linkedin and couldn't find anything.
I just read that article by Poets&Quants and it is terribly written and lacks understanding of the reporting dynamics. For example, it claims that the highest paid investment banking recruit at Duke got a $200,000 base, which simply does not happen. The base is $100,000 everywhere that that is obviously a misreport (though understandable since all-in comp is around $300,000 the first full-year, after the stub year).
The information is not verified and the author is just blindly quoting shit. It is off by claiming all-in numbers for base salaries and doesn't really check facts. For example, bulge bracket and boutique banking base is $100,000 everywhere and M/B/B's are $125,000.
The $675,000 is definitely possible but somewhat unlikely. I don't know why a HF will pay so much guaranteed money for an unproven product (who isn't even a lateral hire). The $675,000 sounds fishy for me unless it is a family member / founder helping family / friend out.
Dude, not everyone that comes out of an MBA program is hired as an associate. What if some VP left to go get an MBA because he always wanted to do it and then got hired at a bank...he isn't going to be getting paid $100k base.
And, Marcus is right, the pay varies from place to place...so your definitive statements make you seem very uninformed.
$100K base salary for an associate? At a BB or even elite or lesser boutique? Probably not since 2006.
Starting associate on the street is anywhere from $110-150K. There's been quite a bit more variance these days as the trend for a greater portion of comp to be in the form of base salary continues. It used to be that there were usually two camps that most of the banks adhered to, now its increasingly the case that everyone is anywhere from 5-40K higher/lower than the next guy... it all evens out come year end, all-in comp is generally comparable. Only benefit is less of your total comp is discretionary at a higher base bank.
At 675 one would not be able to afford a decent place in New York (esp. a co-op), much less enjoy any appurtenances and raise a family. Baller is an overstatement unless he's 23.
It's really not that much and goes very quickly, even in other areas.
Stanford, I am disappointed.
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