L/S HF new hire compensation
Know a lot of us are going into comp discussions at new firms. Thought it'd be useful to spread numbers here.
Model: MM / SM -- sector specialist / generalist
Location: NYC / Palm Beach / Remote
Seniority: PM, Sector Head / Jr PM, Analyst, Jr Analyst
YoE: # of years of professional experience
Previous buyside experience: # years as PM, analyst
Previous sellside experience: # years of IB / ER / S&T
Deal terms: (if relevant) GMV, % payout, risk parameters
Ancillary terms: signing bonus, moving expenses
Coverage size: # names, sector
BUMP, OP can you share yours? I can share in a few days or weeks lol
OP here -
Model: MM -- sector specialist
Location: 50/50 NYC / Remote
Seniority: Analyst
YoE: 3.5 yrs
Previous buyside experience: 2 yrs as jr / analyst
Previous sellside experience: 0
Deal terms: N/A - $180k base, no guarantee
Ancillary terms: $10k moving stipend
Coverage size: 50-60 - Consumer
With coverage size of 50-60 names, in rough terms, what % are actionable/tradeable ideas vs watchlist names? Do you know top 20 cold and the remaining 30-40 you keep a model and up to date on story? Trying to figure out the level of detail one can keep with that many names.
I think that sounds about right. Keep in mind that coverage universes range larger - generalists can cover universes of 250+, and specialists usually ramp to 100+.
You mentioned Palm Beach in the original post, does your firm have an office there and/or is hiring by chance?
Model: SM
Location: East Coast
Seniority: Analyst
YoE: 4 YOE total
Previous buyside experience: 2 years in PE
Previous sellside experience: 2 years before PE
Deal terms: 450K all-in
Ancillary terms: 10K moving, 20K signing
Coverage size: Generalist
how big is your fund, and do you get any carry or is bonus completely disc? Also have 4 yoe, just started at my shop (l/s sm, ~$7bn), all in comp will end up at around $425. If your fund does great this year, is your comp capped at 450k (since your new), or do you think you'll see some upside to that? I hope i will lol
lol assuming most funds aren't doing so hot this year. oh how 8 months can change things.
Model: MM / specialist
Location: NYC
Seniority: Senior Analyst/Jr PM with carve-out
YoE: 4
Previous buyside experience: None
Previous sellside experience: 4 years sell side
Deal terms: $150K base, nets out to ~13% PnL with some adjustments.
Ancillary terms: N/A
Coverage size: 20 names in a TMT sector
curious -- sell side exp in er or ib? sr analyst / jr pm that fast seems impressive good for you. How big, ballpark, is your carve out?
13% is pretty darn good, assuming total takeaway is 20% net of expenses.
Following
Model: SM -- generalist
Location: NYC
Seniority: Jr Analyst
YoE: # 1.5
Previous buyside experience: 0
Previous sellside experience: 1.5
Deal terms: N/A — $125k base
Ancillary terms: N/A
Coverage size: 40-50
Model: SM / generalist
Location: NYC
Seniority: Analyst
YoE: 4
Previous buyside experience: 2 (PE)
Previous sellside experience: 2 years sell side
Deal terms: $150K base, $500k all-in
Ancillary terms: leveraged co-invest
Coverage size: ~5-7 situations at any given time
What’s the fund size here? Just approx range
how big ~ is the fund? guessing you came from mf pe?
>$10BN AUM. And yes, MF PE.
Just want to say that this is will be an extremely helpful thread for many if it continues with this level of detail. Good idea OP.
Model: SM - Sector Specialist
Location: NYC
Seniority: Analyst
YoE: 4
Previous buyside experience: 4 years PE (MF analyst program)
Deal terms: $500k base
Coverage size: Tech crossovers
$500k base...?
bro 500 base? where are you @ all in, and how big is this fund?
damn this is good for 4 yoe
Wow base seems awfully high. Good for you definitely but the first time I've seen a comp like that for base anywhere in high finance..
How is bonus calculated then?
probably fake if its from prospect in hf lol
Model: SM -- generalist
Location: London
Seniority: Analyst
YoE: 2
Previous buyside experience: 2
Previous sellside experience: 0
Deal terms: £60k base + discretionary bonus (15-40% of base)
Ancillary terms: na
Coverage size: #41 names - generalist
Jesus that's miserable, even a 1st year IB analyst makes more
...
Model: MM, generalist
Location: Remote
Seniority: Analyst
YoE: # 5 industry, + 5 years of unrelated work
Previous buyside experience: 2
Previous sellside experience: 3
Deal terms: 125k base + 50k bonus + discretionary bonus based on PM mood/performance
Ancillary terms: None
Coverage size: generalist. stocks i got into the the portfolio Smallest cap was 700m, largest was around 25B
How often do firms allow remote work? Are you allowed to live in different state from your firm?
I am 100% remote. No restriction to living anywhere as far as I understand. I don't think this is a normal situation, but who knows with remote work becoming more acceptable.
Model: $10Bn+ Aum, not Tiger cub
Location: NYC
Seniority: Analyst
YoE: # 2 years PE analyst
Previous buyside experience: 0
Previous sellside experience: 0
Deal terms: 200k base, 400-500k target comp, ~$1M actual Y1 comp. Comp has stepped up since then.
Ancillary terms: N/A
Coverage size: N/A
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