I'll start
Assoc Year 1 - 300k
Assoc Year 2 - 300k (bad year but downside protected)
Snr Assoc Year 1 - 500k
Snr Assoc Year 2 - 600k
Only guaranteed in my first year when switching from 2 years of banking
| +35 | Interesting juncture: L/S Hedge Fund or MM Private Credit? | 7 | 17h | |
| +27 | JD or CFA for Distressed Debt/Activism? | 8 | 21h | |
| +20 | MM BD people make LSD/MSD $m?? | 25 | 2d | |
| +19 | Undergrad HF Internships? | 25 | 15h | |
| +17 | Does cfa matter? | 5 | 9h | |
| +17 | Are distressed HFs still viable? | 12 | 2h | |
| +16 | Road to Working at a Hedge Fund? | 14 | 3d | |
| +15 | Credit comps | 9 | 1d | |
| +14 | Large HFs in SF / Bay Area | 10 | 4d | |
| +10 | What is Good in HF? | 6 | 2h |
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Rates RV Pod after 2 years trading at BB and 2 years grad school (title was always "Trader"):
Y1: 170k (half year)
Y2: 500k
Y3: 700k
Y4: Hoping to break 7 figs this year but there's a lot of time left
What grad program did you do?
Are you an analyst or do you manage risk?
I have trades in the book and help manage risk but don’t have my own sleeve or carve out
There was a thread a while back about this (something like "who has made 7 figures before" or something like that). There's no typical path. One person's path could be completely different than another's - there are far too many variables. For example:
If I had to take a while swing at it... low to mid 6 figures if you have no P&L, maybe like 500-700k in a normal year, 7 figures in a good year, zero or laid off in a bad year.
Year 1: Summer Analyst $375K
Year 2: Summer Associate $750K
Year 3: Returned as FT Associate: $1.45M (firm didn't do well)
Year 4: Expecting $3.05M or I'll jump
You get the idea
How old were you/ what was your prior experience before Year 1?
Which prep school did you go to. Those numbers look weak bruh so trying to avoid sending my ten children there
When will you become PM
bump curious to hear others. My stats below - ignore title, I joined a pod (consumer l/s) 4 years ago from PE. $2-4b gmv [if this bump is successful and people start adding their #s, please include approx size / gmv of your pod...]
Y1: 340k
Y2: 400k
Y3: 550k
Y4: 1.2m (got small carve and did well)
Y5: tracking nicely, at ytd pnl on carve, would be $2-3m
I did pe analyst program not associate, for those wondering. Late 20s.
Congrats! This seems like a great outcome, do you have any tips for ramping? (Going to start working in a pod very soon)
Bump following
Year 0: ≈225k
Year 1: ≈250k
Year 2: ≈325k
Year 3: ≈150k (blow up)
Year 4: Not looking great lol
Academy?
yes
Sorry to hear. How much responsibility was yours in the blow up and is p72 willing to put you on another pod? Or did you have to look at a different MM? Would be really helpful to know
Blow-up didn't have a ton to do with my coverage, I didn't get that many names into the book that early since that PM used to be very skeptical of the academy and the people that came out. Eventually, we hit our stride but just got caught in bad positioning for a few names mid-quarter. Perfect storm type of situation...
The re-podding is done at most shops, what this means is you're basically recruiting internally and have to interview etc, if no one is hiring then you're out of luck. Sometimes, if you're very early in your gig and blow up, the academy has you do rotations to let PMs see your work (free of charge) and see if they want to hire you. This is if you blow up very early or so from what I've seen, not really the same when you're in the seat for a year+.
The risk in this career is real, but you get a few attempts to bat. So I wouldn't worry about being unemployed or canned out of the industry in your 20s, its more weighing up the upside/downside of having to restart your process every few years with a new team (big risk) vs doing a more linear, progressive path through IB/PE.
I feel like this isn’t a bad outcome at all - you only had 1 bad year so far (unless this year doesn’t pan out better)
You’re young enough such that if you’re a good analyst you could easily just go to another pod and turn things around, or even exit to LO or single manager if you wanted
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