Here’s what I can gather so far, but I’m not even sure any of this is substantiated: Combination of salary, fees, bonuses and commissions: Portfolio Manager (Retail/Private Client Groups): New ~$200,000 Experienced ~$4000,000+ Hedgfund Manager New ~$400,000 Experienced ~$4,000,000+ Commodities Broker New ~$150,000 Experienced ~$1000,000+ Investment banker New ~$150,000 Experienced ~$5000,000+ Asset Manager (Institutional) New ~$400,000 Experienced ~$4000,000+ Proprietary Trader New ~$150,000 Experienced ~$2000,000+ New meaning fresh out of university. Experienced meaning 20+ years in the business (age 43+).
Maybe ok for the new guy numbers. For the experienced guys, if you’re looking at average numbers, I’d say you’re on the low end.
In my view it only makes sense to compare these things at a relatively junior level and without accounting for future upside potential. The whole point is the large upside, which can only be evaluated on a specific basis imo.
tj2001 Wrote: ------------------------------------------------------- > New meaning fresh out of university. Experienced > meaning 20+ years in the business (age 43+). Who is a PM right out of university? Same with HF manager.
mwvt9 Wrote: ------------------------------------------------------- > tj2001 Wrote: > -------------------------------------------------- > ----- > > New meaning fresh out of university. > Experienced > > meaning 20+ years in the business (age 43+). > > Who is a PM right out of university? Same with HF > manager. chuck norris, batman, and this kid -> http://www.dailymail.co.uk/news/article-1369595/Jacob-Barnett-12-higher-IQ-Einstein-develops-theory-relativity.html
mar350 Wrote: ------------------------------------------------------- > and this kid -> > http://www.dailymail.co.uk/news/article-1369595/Ja > cob-Barnett-12-higher-IQ-Einstein-develops-theory- > relativity.html lol
Oh man. I love the Daily Mail. It’s probably my favorite newspaper. Take this story, for instance: http://www.dailymail.co.uk/news/article-1371091/Swansea-house-looks-like-Hitler-complete-naff-parting.html
mwvt9 Wrote: ------------------------------------------------------- > tj2001 Wrote: > -------------------------------------------------- > ----- > > New meaning fresh out of university. > Experienced > > meaning 20+ years in the business (age 43+). > > Who is a PM right out of university? Same with HF > manager. Alright, well “New” is probably an exaggeration on the part of PM, HFM with respect to them coming straight out of university. And the high end figures are just approximate. I can’t recall but I’ve read somewhere that the profit potential for PMs could be much higher than IBers on the experienced end.
ohai Wrote: ------------------------------------------------------- > Oh man. I love the Daily Mail. It’s probably my > favorite newspaper. Take this story, for > instance: > > http://www.dailymail.co.uk/news/article-1371091/Sw > ansea-house-looks-like-Hitler-complete-naff-partin > g.html hahahahaha, that’s great. i love silly english people.
Straight out of MBA, you want to say
I am amazed that the “Experienced” figures I posted could be considered on the low end. I actually thought these were high-balling it.
Just remember: lots of survivor bias on the “experienced” end. Compensation figures are a very skewed distribution too, so median compensation will generally be a better indicator than mean compensation. I don’t know what those figures actually are… CFAI seems to be dragging its feet on doing another compensation survey, probably because the financial crisis and recession might do a bunch of funky things to the figures and also make them look less appealing than earlier in the decade. WSJ did report that compensation is back up to 2007 levels, at least at banks, but presumably those high figures are going to a smaller employed pool.
This looks dated but: http://www.consumerismcommentary.com/want-to-make-450k-a-year-become-a-portfolio-manager/ According to this (mean results however, not median), PMs make more than IBs who make more than RAs. The interesting question though is when it’s referring to PMs, is it referring to both institutional AND retail portfolio managers (i.e. managing managing a book of a select group of extremely high networth private clients)? And is there a disparity between those who manage institutionals and those who manage private clients?