Hi monkeys
For a SM L/S equity (AuM >£3bn) in London, what kind of salary base can i expect? I have ~3YOE of xp (straight from uni) at a MF. Does anything from £110-130k sounds reasonable (align w/ PE, MM?)
Cheers
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Which SMs are you targeting? U.S. based here but thinking about making the switch
Would expect a slight discount to MMs. Big comp in LDN SM comes from making partner.
Do you have data points for the latter? base and bonus
Depends on the SM. AKO/Egerton expect big discount (~80k), Gladstone type 110-130 sounds reasonable, TCI/TCI spins you take whatever they give you and be grateful lol.
appreciated! without giving too many details, it is a TCI spin. so basically, i should take whatever number they give me? do you have a rough feeling for base salary?
I work at a pod, I've done multiple comp negotiations with bizdev. You should ask for them to match your current base (inflate by 30%) and ask for a GP bite. Let us know the name of the fund so I can apply after they flame you out ;)
But yeah, I'd take what you're given. Congrats
Yea there’s not much room to negotiate and highly doubt theyd lowball you. I’d expect at least £100k and at most £150k based on your YOE, if they ask you for a # just give them your current base. I was once quoted £125k for one of them by a HH.
Does the answer to the above vary a lot depending of YOE? I will soon have 5 YOE (of which 3 on buy-side in a Mega fund, 2 in IBD).
Current base comp is £160k ($200k) so some of the numbers above would imply a really big discount (50%).
No one leaves MFPE for AKO/Egerton (the ones that pay 80k). You’d be looking basically at TCI and its associated funds which you can expect to match your PE comp since that’s their pipeline (and as an associate you will be credited for your YOE). Occasionally people go to MM which can be very flexible on comp so would expect them to match whatever your base comp is too, if they don’t I would see it as a red flag on that specific PM/seat.
Thank you, super helpful!
Maybe should be more of a separate thread but does anyone have insight into interview processes at AKO, Egerton, or Gladstone? Rounds, material, etc.?
Recruiters will brief you on these in advance if/when you are being seriously put forward for the role
don't listen to the below about taking what you're given. If you proved yourself in the interview and they gave you an offer, it is normal to ask for more money. Speak to other recruiters to get a feel for how the market is and try to align yourself. Last thing you want is to be mugged.
Surprised you did not mention the bonus, I would take a lower base for the prospect of a higher bonus/progression.. what do you cover? what do you want to do? all part of the formula...
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