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Fund managers' compensation running contrary to bankers'
23 June 2009By Sarah Butcher
COMMENTS
A big two fingers to all the jealous detractors especially on this site in the past few months suggesting that bonus culture was over, permanently with municipal intervention. Ha! Read all comments »While bankers’ base pay is rising and - as a proportion of total compensation - their bonuses are (meant to be) falling, the fund management pay trend appears to be moving in the opposite direction.
According to a study by Create Research, 58% of fund managers have frozen base pay and have either moved or are moving towards a more performance-oriented compensation model.
It comes at a time, when banks are espousing higher fixed costs. The Financial Times reported yesterday that base salaries for managing directors have jumped from about $250k (€180k) a few months ago, to closer to $400k now.
Source: Create Research
COMMENTS
Millionaire, Research, Tue 23 Jun 09
Sell-side bonuses appear to be falling? Its going to be about triple 2009 levels (on average, across the board), ie similar to 2007 levels, and no I don't work at Goldmans.
Add your comment »Sarah, Editor, eFinancialCareers, HR & Recruitment, Tue 23 Jun 09
@Millionaire - What I really meant was that bonuses are supposed to be falling as a % of total comp. I've changed the article so that this is v much more obvious.
Add your comment »Millionaire, Research, Tue 23 Jun 09
OK awesome.
Base salaries double what they used to be, and thus so extremely comfortable to live on month to month, and bonuses back so total comp comes back to 2007 levels... things seriously have never, ever been better :-)
A big two fingers to all the jealous detractors especially on this site in the past few months suggesting that bonus culture was over, permanently with municipal intervention. Ha!
djm, Trading, Tue 23 Jun 09
So slightly under 60% of fund managers "link the bonus of investment professionals to individual OR team results."
You really have to wonder what the other 40% are basing their bonus structure on.
SwissHeir, Equities, Tue 23 Jun 09
Millionaire u r such an idiot, it's quite funny! :) and no, i'm not jealous because i'm a very fortunate heir
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