^ haha, i obviously meant if you wanted to be an equity manager
I know…its just a relatively slow morning. Just some friendly joking.
In my firm…the path goes analyst…asst Pm…PM…fund manager… - just to clarify. And by fund…i dont mean hedge fund…i mean mutual fund.
investment assoicate… junior PM… PM… fund manager however some do research or product in place of IA this is only my firm
The funny thing is that while most of us on THIS forum are likely trying to get to PM #3, the fact of the matter is that most PM #1s in Canada probably make more money. First, the recent long bull run in the markets, real estate values and the migration of the average age of the Canadian to the silver hair range has made the need for “PMs” with CFAs pretty high. If you can build a decent book of business, lets say a 5-year business plan to take you to $200 million, you’ll easily best the average Canadian Equity Fund manager, who I would say pulls down a total comp in the high $180Ks to low $200Ks. Its really about what you want…PMs have to chase benchmarks and “PMs” have to chase clients. I don’t really know who has the better “quality of life” ratio but I’ll let you know when I find out. Thanks for the kind words. Willy
my old firm, it went…grunt, Associate PM, PM. By fund, I mean, mutual fund, pooled fund or hedge fund.
“you’ll easily best the average Canadian Equity Fund manager, who I would say pulls down a total comp in the high $180Ks to low $200Ks.” You low-balled that…average APMs on the desk pull that down.
Meh…go on. Where? At RBC/TD Funds? Or are you talking like Howson Tattersall, Mawer and middle sized shops? I seriously cannot see a PM at RBC making more than $200,000 for managing a fund. The SVPs [who manage the PMs and Analysts] may-be $300,000 because they also manage institutional accounts personally…but I just don’t see a bunch of RBC Executives saying “Yeah we’ll go ahead and approve Bill’s $500,000 comp package for him to closest index the TSX all year”. Willy
Yeah, I would never be talking about the bank owned shops…just like I would never consider working at one unless I was parachuted in at lead PM.
Wow, I work at a big US mutual fund firm and those numbers would be laughably low for a PM here, even with the CAD at parity. What size funds are we talking here?
I’m taking Willy at his word here about the bank owned firms. I can guarantee him that any PM at one of the major or mid-size CAD independents make average double that. APMs bases would almost be on the low-end of his scale.
its true, cnd PMs make pennies compared to us PMs
PMs at Janus make several million a year. 200k ?? cmon…25 yr old IB associated pull down more than that.
It’s a different story in Canada. The finance salaries don’t compare to the States or the UK. The life-style is good but if you want to chase the money you have to move to where the money is.
jbisback Wrote: ------------------------------------------------------- > PMs at Janus make several million a year. 200k ?? > cmon…25 yr old IB associated pull down more than > that. You are right on the money. People throw around the term PM way too loosely here. Real fund managers in NYC are making minimum minimum 7 figures. As for the IB Associates, yes their bonuses are usually around that much.
WillyR Wrote: ------------------------------------------------------- > The funny thing is that while most of us on THIS > forum are likely trying to get to PM #3, the fact > of the matter is that most PM #1s in Canada > probably make more money. First, the recent long > bull run in the markets, real estate values and > the migration of the average age of the Canadian > to the silver hair range has made the need for > “PMs” with CFAs pretty high. If you can build a > decent book of business, lets say a 5-year > business plan to take you to $200 million, you’ll > easily best the average Canadian Equity Fund > manager, who I would say pulls down a total comp > in the high $180Ks to low $200Ks. Its really about > what you want…PMs have to chase benchmarks and > “PMs” have to chase clients. I don’t really know > who has the better “quality of life” ratio but > I’ll let you know when I find out. > > Thanks for the kind words. > > Willy actually i want to be the first type of PM, ive ehard they have the ebst quality of life but its more sales and relationship management orientated which is good for me because it fits my personality perfectly.
What about managing ETFs? I know its not active port. mgt. Would like to know your thoughts on that…
That’s right, in NYC the salaries are ridiculous. 3rd year IBD analysts with no real skills are pulling in 200k with top bonus buckets at Bulge brackets. They have nothing but a good undergrad. IBD associates with fresh top MBAs often get 200k bonuses…
That’s right, in NYC the salaries are ridiculous. 3rd year IBD analysts with no real skills are pulling in 200k with top bonus buckets at Bulge brackets. They have nothing but a good undergrad. IBD associates with fresh top MBAs often get 200k bonuses…
Do you mean implementing a portfolio using ETFs, or do you mean managing a portfolio that is sold to investors as an ETF?