JohnThainsLimoDriver Wrote: ------------------------------------------------------- > mo34 Wrote: > -------------------------------------------------- > ----- > > I have no idea how much they make, but just > > wondering what can someone fresh out of school > do > > that is worth 250K ? Excel ? PowerPoint ? > > > The racist speaks the truth. haha…Now leave the poor guy.
JohnThainsLimoDriver Wrote: ------------------------------------------------------- > mo34 Wrote: > -------------------------------------------------- > ----- > > I have no idea how much they make, but just > > wondering what can someone fresh out of school > do > > that is worth 250K ? Excel ? PowerPoint ? > > > The racist speaks the truth. Again with angry donkey who worked hard all his life hoping to become a horse, only to remain a donkey 
Good to see you around donkey boy.
I’m curious how old you are and what you do, JTLD. You seem to be incredulous about compensation practices that are pretty commonplace in the industry.
My CSI skills, JTLD, 37, male, fund manager
^bite your tongue, 37 is out of KarenC’s age range.
storko Wrote: ------------------------------------------------------- > My CSI skills, > JTLD, 37, male, fund manager JTLD: Angry - White - Fat - Greasy - Salesman of some type - Day trader at best.
^of course he had to throw “white” in there…right on cue.
JohnThainsLimoDriver Wrote: ------------------------------------------------------- > ^of course he had to throw “white” in > there…right on cue. well played
cfa2grunt Wrote: ------------------------------------------------------- > I’m curious how old you are and what you do, JTLD. > You seem to be incredulous about compensation > practices that are pretty commonplace in the > industry. I thought he was a hf guy. They have different hiring and compensation practices than the more staid institutions.
I work as an associate/junior analyst at a BB firm doing equity research. The associate working before me (he worked for three years) went to HBS and now works at Fidelity as a research analyst. He told me he makes less than what he used to make working on the sell side. He is not the type who lies.
JohnThainsLimoDriver Wrote: ------------------------------------------------------- > ^of course he had to throw “white” in > there…right on cue. lol
Like Grunt and Banni alluded to, 2009 is a dicey year for variable comp since their whole biz is % of AUM, so when AUM falls thru the floor it hits their bottom line (not to mention that retail investors after getting burnt hard in the last couple years may scrutinize their mutual funds and start migrating to lower fee funds, although I don’t have evidence if this trend is occuring just my speculation). I’m curious whether the buyside (and sellside) will also start slashing starting base salaries as well, since obviously they have the leverage to do that if they want to, and with a lower base, new hires would likely expect lower bonuses as well. “He told me he makes less than what he used to make working on the sell side” Somewhat apples/oranges since he left when things were frothy (you may also work in a group that kills it on commissions and your sector IB group had tons of deals) and even if his job has higher status, things obviously are tight out there, but I’m sure if things get back to normal his decision to go to b-school will pay off as Fido isn’t going anywhere.
>I have no idea how much they make, but just wondering what can someone fresh out of >school do that is worth 250K ? Excel ? PowerPoint ? For a year the analysts are trained, they meet companies, work with the senior analysts, attend conferences and PMs. Then they start picking stocks their sector. While its true that the 225k salary might not be justified in the first year, the company hopes over a period of time it pays off. A lot of recruits do tend to stay in the company for long so attrition is not a problem Since the analysts are recruited from the top institutes Fidelity feels recruiting smarts (who will hopefully stay long) and paying them a good salary will pay off over a period of time.
@cfaboston you are way off the mark dude. I have worked in the Bangalore office of Fidelity as one of the “analysts” (actually sector specialists is the designation) you talked about. >>>Their equity dept is in RI and Fixed Income is in NH. Summer street office is full of technology and ops folks. As I said earlier I worked in Bangalore supporting PMs and analysts in summer street. I have even been there a couple of times. Second there are no analysts in India only sector specialists in ER and associates in FI (both do grunt work not high level analytical work done in Boston or Merrimack). There are about 10 sector specialists in ER in Bangalore VS 100 (Analysts, PMs and associates) in summer street. The number of FI associates in India is also about 10.
Indian employees making $250K = laugh.
R250K I could buy.
mo34 Wrote: ------------------------------------------------------- > I have no idea how much they make, but just > wondering what can someone fresh out of school do > that is worth 250K ? Excel ? PowerPoint ? Well, these people usually have pretty good prior work experience at top investment banks or consulting firms before coming to school. One of my mutual fund buddies makes less now than he did before he came to school when he was a VP in IB. So it’s not really so crazy.
batterinram Wrote: ------------------------------------------------------- > >I have no idea how much they make, but just > wondering what can someone fresh out of >school do > that is worth 250K ? Excel ? PowerPoint ? > > For a year the analysts are trained, they meet > companies, work with the senior analysts, attend > conferences and PMs. Then they start picking > stocks their sector. While its true that the 225k > salary might not be justified in the first year, > the company hopes over a period of time it pays > off. A lot of recruits do tend to stay in the > company for long so attrition is not a problem > Since the analysts are recruited from the top > institutes Fidelity feels recruiting smarts (who > will hopefully stay long) and paying them a good > salary will pay off over a period of time. So you mean that their “assumed long term stock picking ability” is worth 250K ? The only two ways (I know of) that someone would be offered this kind of money (in the real world) as starting salary are: 1 - He is bringing with him/her at least 10 times that in AUM. 2 - He is coming with an audited P/L (for 3 years or so) that clearly proves his/her stock picking ability.
>>>Indian employees making $250K = laugh when did I say that. I said analysts make that much and I had also mentioned there are no analysts in India there are only sector specialists, you clearly are comprehending properly. If you are interested Indian sector specialists in Bangalore make about 30K USD/year including bonus.
>So you mean that their “assumed long term stock picking ability” is worth 250K ? The >only two ways (I know of) that someone would be offered this kind of money (in the real >world) as starting salary are: >1 - He is bringing with him/her at least 10 times that in AUM. >2 - He is coming with an audited P/L (for 3 years or so) that clearly proves his/her stock picking ability. I am not saying their assumed long term stock picking ability" is worth anything it was the company’s view not necessarily mine. Your experiences are clearly different from mine. I am only giving info I gleaned as an insider in Fidelity for close to 2 years. My figures have been confirmed by others on this forum. I have nothing to gain by lying in a public forum, beleive what you want. Peace