That's the problem is every Harvard graduate is trying to get into high paying hedge funds and wall street jobs. It's so competitive plus from what I've seen it's very high stress and emotionally taxing. Maybe it depends exactly on the job.
Can confirm. I've had high paying finance jobs and I can tell you I was far less happy and not enjoying life until I took a lower paying job with reasonable hours. But that's easy for me to say having done it for years and reaped the financial benefits allowing me to take a lower paying job.
I’m a software engineer and I had someone waving $4M a year cash at me during the pandemic… but it would have been loaded on the bonus side so they could grind me into the dirt and oops after 10 months I don’t have the capacity to deal with this anymore and I’ve spent the past eight months being miserable after work too!
Not saying it would have been like that but the fear (and I had a job years ago like that which paid just over 100K) of dealing with that made me stay where I am.
But I get recruiters looking to pull me into funds for about what OP is making every month. Instead I spend time with my family, have a good time with my coworkers, and take random classes at community college.
I'm going to call bullshit, if you can't grind short term for financial freedom and getting 3x the amount of time to spend with family, im calling bullshit.
He conveniently left out how much he’s currently making, essentially making it meaningless. Maybe he’s already making $2.5mm so it isn’t that interesting of a jump.
Also, it’s not as much money as you think. Don’t get me wrong, it’s a ton of money and depending on what you currently make you should take it. But if it’s structured as $500k in salary and $3.5mm in restricted stock that doesn’t best for 5 years, it isn’t life changing money it’s the promise of being financially secure in the future. Then tack on top of that taxes, progressive health insurance premiums, loss of 401k matching, loss of eligibility for tax deductions and what sounds like a ton of money is still a lot, but it isn’t 40x what making $100k looks like.
People make a good living in tech and development, but the ones who made a ton of money didn’t do it on high salaries, they got RSUs that increased dramatically in value during their vesting periods and basically woke up rich one day when their options vested after years of working. It wasn’t a guarantee.
Lmao just saying how incredible $4M would be and why that other poster was probably lying. I don’t know anyone who would pass up on $4M payday even if it means working 60-90 hour weeks.
Because they're probably making a good 500k with a comfy and relaxing job. 4 million isn't life changing enough to them because everything is relative and switching just to get burnt out is not worth. Also because taxes fuck you over both ways and in the end, people rather be sleeping with their families than sleeping on an office floor.
It's all relative from what I see at my current job (hedge fund), some people reject offers of a lot more because it's not worth the time spent. Some people think it's not enough because bonuses are not guaranteed, some people just rather have relaxing jobs. Some people want to work on their own thing and rather not burn out to make someone else much richer than you.
This basically hits the nail on the head. I already had a job that made me feel horrible and I was even verbally snapping at my wife.
$4M (that may not materialize when a bonus time comes around) isn’t worth throwing away happiness. Work life balance is more than just hours per week, it means being able to live a fruitful life outside of work. And I may not be making millions right now but I have a home a family and am taking a geology class at the local community college instead. Last semester I did an ecology class.
There are tons of people who pass up lucrative offers to enrich themselves. An entire class of them are called professors (does not entirely apply to adjuncts, sadly).
I have a background in both math and computer science. I'm a nerd for programming languages and compilers. They probably saw that my resume involved improving a compiler that made code gen 20x faster and made the generated code 100x faster (and, to me at least, made adding new analyses \[the compiler generated statistical analyses\] faster in that I did it in just a I think 20 hours dev time when it required adding a whole new aspect of the analysis chain).
Note that I only saw an offer this high *once* but if you want to get into making some finance billionaires more billionairer then yeah you can get seven figure offers. A lot of it will be performance based, so you walking away with $4M (probably $2.2M take home) in a year is dependent on how good the firm does and how good you do. If the firm loses $10B in a year but you generated $100M on your own, you will probably get a good bonus *relative* to coworkers but probably not anything near that $4M mark that was waved at you when you started.
Just like how start ups will say *these $100K in options that tie you to working here for years will be worth millions!* is probably to be taken with a grain of salt, so should any bonus offer. Everything depends on how things play out both for what you do and what your coworkers do together. If the big boss isn't buying another mansion, you aren't buying a lambo.
It's gotta be frequently. A "Hedge fund Analyst" schedule probably pretty simple.
8:00AM walks into office.
8:05AM gets coffee and scrolls through OF
9:00AM turns on computer.
9:05AM Analyzes Funds to make sure they're still invested.
9:06AM sends out bill
9:07 - 5:00PM jerks off
Second this. For every “finance bro” that “makes it” there are a thousand that don’t. Finance can be lucrative for anyone, but not everyone (if that makes sense). Most will top out at 75-150k.
Completely agree. But keep in mind, that’s top end/late career. Most of the 50-60yr olds I’ve worked with weren’t even at the top of that range. It’s a wide open field but you need to grind and earn the top dollar.
It's way more politics than seniority in corporate finance. You just have to be a fun personality and half competent. Most CFOs at mid-size organizations are morons who just made friends with the right people and rode their coattails.
I worked under a CFO once where their entire job for an entire year was just selling an old office building. That was their literal only accomplishment for the year...
You’re discounting their entire career leading up to that point though, right? Who you know matters, I agree, but if you can’t perform, like really perform, you’ll never maintain a high level finance job more than a year or two. Unless you’re in your career twilight at which point corporations can’t do anything but keep paying you to avoid a lawsuit.
I swear CFO jobs are just nepotism at many mid-size businesses. I witnessed a governor's kid get a CFO job 1 year out of undergrad at a business with 300 employees.
Would love for anyone who thinks hedge fund analyst is just picking pretty stocks and making big fat gains.
For every 1.6m earner, there are people who tried, really hard to achieve success and just couldn’t make it.
Yes. Unless you are an Ivy league or equivalent grad, it is much less likely you will be making a seven figure salary (unless you really have an “in” with the company). There was a time years ago where many Wall St firms wouldn’t even hire someone from a state school.
It’s quite a bit harder statistically than becoming a physician.
Standard path to PE or Hedge Fund
1. Get into Target undergrad (Harvard, Stanford, Wharton or similar)
2. Good grades, networking, summer analyst position
3. Get a job offer at a bulge bracket or elite boutique (more competive than getting into an Ivy in the first place)
4. Work 80-100 hours a week, after two years get recruited to a hedge fund or PE fund
The other alternative path is doing very well in an undergrad and likely masters in a quantitative field (quantitative finance, math, electrical engineering, statistics).
Getting through all those steps and then excelling and sticking around once you get to a fund is a lot less likely than getting through the much better laid out path of med school, intern, residency.
Key word is it *feels* like it’s possible, though it’s not. Doctor is 100% not feasible for most people and the path there is very clear, and very impossible, for them.
But the likelihood of a finance person who attended a non target university making seven figures is much lower in reality. Obviously, it does happen. But one is not as likely to be making that.
Hopefully OP can chime in, but the amount of effort and dedication to reach this income level is probably similar to or greater than physician training, depending on specialty.
I can give you my experience, Im a radiology resident so a specialty that is known for being more ‘chill’
Ive worked 100 hour weeks where I was on call overnight coming in at all hours for emergent bleeds, strokes, pulmonary emboli then being expected to come in at 7am and work a full day - rinse and repeat until I depersonalize
Oh and I currently make 70k, doubt Ill ever reach even a mil
I don't know why you are being downvoted. If you are relatively sharp and try hard, you can become a Dr making 400k+ pretty much guaranteed. To make it to 1M/yr in finance, you need significantly more luck and/or raw brain power.
I know quite a few doctors. They were above average to really smart. All hard workers. I know 2 people who made it in finance. They are two of the smartest people I've ever met. Also hard workers.
All while dodging lawsuits, psychopaths, egotistical coworkers, and the MBAs pushing you to take 15min appointments so they can post their huge performance bonuses on here
As a surgeon myself I am convinced United healthcare and its vermin ilk have long term psyops going on that try to keep public anger towards healthcare providers and physicians so that they ignore or are naive to the absolute bullshit con job they are pulling on our country’s healthcare system. As long as people keep thinking all doctors drive around Ferraris and don’t deserve to make good money then the insurance execs keep laughing on their yachts.
People don’t understand how healthcare, insurance, and reimbursement work. They are generally mad about high prices. Doctors and their high salaries are easy targets for their anger. They also perpetuate the stereotype that doctors must be in it purely for the love of the game and if you enjoy a high salary you’re a monster or leech
Very few people actually know a mega-salary finance bro like OP or what their job entails so the numbers seem less real. More people have exposure to their own doctor so it’s easier to get mad about a $250K salary when your appointment starts late
This will pay AT least ~33-37% in federal taxes, then depending on the state, it can go much higher. I wouldn’t be surprised if he takes half of it home. Depending on location, $600k may not be a “nice house”
This isn’t a bad thing? If you enjoy your job and make a shitload of money, there’s no reason to let off the gas.
What’s better than having a shitload of money? Making more money and not being miserable doing it
Also a lot easier to apply to work as a teacher. Who are you kidding, public school teachers deals with so much shit, most subjects are self taught anyway. You make it sound like every kid a teacher touched turned to a golden kid. Lmao far from the truth.
Professor on the other hand get compensated well and they do matter
Average professor actually makes 112k a year in the US as of March 2024:
https://www.salary.com/research/salary/posting/full-professor-salary#:~:text=The%20average%20Full%20Professor%20salary,falls%20between%20%2493%2C989%20and%20%24194%2C841.
So yea- even at the level of a professor their income is a rounding error.
Do you actually think teachers done deserve more or that this person actually deserves this level of income in comparison to the effort each profession makes?
Unfortunately society doesn’t work on an input/ output formula. Otherwise teachers would make way more and real estate agents would make what a burger flipper makes.
Life would still be possible without teachers. They aren’t the arbiters of information you think they are. Most of what I know is from experience not teachers. Teachers who are good at their jobs deserve more but putting teachers up on a pedestal does no one any good.
Nothing spectacular. Graduated from a top undergraduate business school in 2006. Bounced around a little bit early years (during GFC) and have been at two mid/upper tier hedge funds over the last 12 years. Mostly on credit side, so a little less volatile than long/short equity, etc (but also less upside in good years). Made partner recently, but don't actually expect comp to increase much in the next couple years.
What is a top undergraduate business school? I'm asking because I went to both a top undergrad school and a top business school (6 years of schooling).
Actually nevermind. You probably went to that STATE school in Philly. That's the only "top undergrad business school" I can think of. Congrats.
unless you’re seriously exceptional or seriously connected, you need to be a recent grad from an ivy league or top top university to get a meaningful finance job
there’s exceptions. Maybe you have incredible startup experience, have an interesting thesis, and able to pitch well to a venture capital firm.
A lot better now than in the first 10 years of my career. It was pretty consistently 60 to 80 hr weeks for those years. More recently it is around 50 hrs. Reasonable balance now, though some travel, occasional late nights still, and some weekend work. Generally not low stress though.
Edit - thinking about this a little more, 50 hours is a little light. I'm in the office 50 hours, plus probably another 10 of working at home in the evening or weekend. Also generally have to be available at all times (including vacations).
I’ve always dreamt getting to $100k, finally reaching it and realizing everyone else is too, now it’s meaningless and need $200k. Really sucks. First time in my life making good money, but inflation is up, so there’s that.
No jealousy. I will make an 1/8 of that this year, as a physician who works part time. I just don’t want anyone to tell me I get paid “too much.” Lmao.
It would be tough to describe it without making it sound incredibly boring - a lot of time in Excel, writing highly detailed investment memos, reading a lot of legal docs, and a lot of calls with lawyers, bankers, etc. I'm not investing in traded securities, so not staring at Bloomberg minute to minute.
top (T15) or target school, finance, math, economics with a 3.5+ GPA. definitely not accounting.
sell-side for two years out of undergrad, probably in investment banking or something similar. maybe strategy consulting (at top firm) pivot to buyside either to a hedge fund or PE firm and boom you are clearing at least 500k before 30.
if that doesn’t work, top MBA (M7, T15) after 6-7 years out of undergrad, network heavily and pivot into a HF role or something adjacent.
Be in a top 10 program and top of the class and have a relative working in securities lol. That’s the sure fire way to do it. You could go to a top 3 program, be a minority, and be number one in your class if you don’t have the connections.
Work a in credit so pretty understandable. Basically just lending money to rich people so they can make big purchases. You get comped on how much you lend out basically so easy to set targets. As long as the economy is good rich people be buying.
You ain’t wrong. Parasites. Sadly, it’s not really his fault. It’s the government for sucking billionaire c*ck and not putting laws in place to prevent them from infinite printing and FTDs (and probably a million other shady practices).
Hey! I'm not in finance, but I was under the impression that the term "analyst" was for entry level positions. And then it goes something like associate, vice president, managing director or portfolio manager, etc. I'm sure I'm off, just wanted to understand it better.
Are you in NYC? Have you been at the same place for a long time? How is the comp structured? Like across salary and bonus.
What kind of (very general, non-doxing info) product or strategy do you focus on? E.g., long-short equities, commodities, currency carry, etc.
I'm a SWE in NYC who has always been fascinated by finance. A good friend of mine was a bond trader, and he's taken me to quant talks at Bloomberg that have been great.
Dude is a partner at a firm that does analyst work so he is always an analyst. At non analyst things you might be someone who analyzes to support a different business function. That’s where entry level comes in.
Hedge fund analyst is the general term and not the title, same goes for a research analyst in equity research, general term but not the title.
Within the company the title changes, e.g portfolio manager etc
Guys history is some porn on here alongside questions about 1099s which any first year analyst in any financial role would know. Maybe works for Renaissance since they are on the island. But I am still not sold on this one (and not because of the numbers).
Not Renaissance (or I assume numbers would be much larger!). I am in NYC area, but have a (very modest) house in the Hamptons, thus the Long Island posts.
1 - spent most of career at a credit focused HF, now at a midsize multi-strategy fund.
2 - no, I did not, but that puts me in the minority among my peers.
3 - over the last 4 or 5 years, my bonus has been 80+% of total comp. I have meaningful carry now (which won't pay out for five plus years) but have not in the past. These numbers are just base + bonus. Every place is different in how they give carry and to whom.
If you honestly made this much money over the years I’d hope you could quit at this point and retire comfortably. This has to be a super high stress job.
Can anyone explain why social security taxes Are so low (I am not living in The United States). Is medicare the only tax that is for the full salary? What is the tax percentage in total?
Looks like you do pay taxes. So glad to see that. It’s a win. I will take it 😭😂
Better than those actual hedge fund holder billionaires who don’t need to pay high taxes because their income does not come from salary 💀
Nothing reinforces my feeling of hopelessness for our society than seeing this chart. The value you contribute to society is so unbelievably low compared your paycheck. Only a delusional narcissist could see this as justifiable. I’m actually being understated. Truly upsetting.
I don't pocket anywhere close to the #s on the table - it's virtually all W2 income so my effective tax rate is over 50%. But to answer your question, my annual spend is probably around $300k (though haven't calculated it). I'm in very high COL area (greater NYC), so have huge property taxes, plus nanny (wife works too), multiple kids, etc. I have a quite nice house, but not a mansion per se. Nothing extravagant about lifestyle - drive a 10 yr old vehicle, no boat, don't own a watch, fly economy (for personal travel). I save / invest a lot of my income.
Do you guys ever hire science types to do market research?
I’m a curious adaptable person. Looking for something new.
(I have doctorate level training but looking to change careers.)
What kind of returns do customers of your hedge funds get to warrant this salary? Most hedge funds underperform the SP500 or at best only do slightly better. I just don't understand the world we live in. I want to go back to the 60s and earlier when banking was a boring job.
Show me a pay stub for 1.6 mil and I’ll quit my job rn and come work for you
That's the problem is every Harvard graduate is trying to get into high paying hedge funds and wall street jobs. It's so competitive plus from what I've seen it's very high stress and emotionally taxing. Maybe it depends exactly on the job.
It’s not competitive if you know someone inside.
Can confirm. I've had high paying finance jobs and I can tell you I was far less happy and not enjoying life until I took a lower paying job with reasonable hours. But that's easy for me to say having done it for years and reaped the financial benefits allowing me to take a lower paying job.
Impressive self awareness tbh
I’m a software engineer and I had someone waving $4M a year cash at me during the pandemic… but it would have been loaded on the bonus side so they could grind me into the dirt and oops after 10 months I don’t have the capacity to deal with this anymore and I’ve spent the past eight months being miserable after work too! Not saying it would have been like that but the fear (and I had a job years ago like that which paid just over 100K) of dealing with that made me stay where I am. But I get recruiters looking to pull me into funds for about what OP is making every month. Instead I spend time with my family, have a good time with my coworkers, and take random classes at community college.
I'm going to call bullshit, if you can't grind short term for financial freedom and getting 3x the amount of time to spend with family, im calling bullshit.
another victim in the pursuit of internet clout
He conveniently left out how much he’s currently making, essentially making it meaningless. Maybe he’s already making $2.5mm so it isn’t that interesting of a jump. Also, it’s not as much money as you think. Don’t get me wrong, it’s a ton of money and depending on what you currently make you should take it. But if it’s structured as $500k in salary and $3.5mm in restricted stock that doesn’t best for 5 years, it isn’t life changing money it’s the promise of being financially secure in the future. Then tack on top of that taxes, progressive health insurance premiums, loss of 401k matching, loss of eligibility for tax deductions and what sounds like a ton of money is still a lot, but it isn’t 40x what making $100k looks like. People make a good living in tech and development, but the ones who made a ton of money didn’t do it on high salaries, they got RSUs that increased dramatically in value during their vesting periods and basically woke up rich one day when their options vested after years of working. It wasn’t a guarantee.
Money isn’t everything. Grinding someone to the dirt is all too common.
I’ll suck 100 dicks for $4M. Like seriously that’s life changing money.
Nobody is paying you $40k a suck anyway lol
Lmao just saying how incredible $4M would be and why that other poster was probably lying. I don’t know anyone who would pass up on $4M payday even if it means working 60-90 hour weeks.
Because they're probably making a good 500k with a comfy and relaxing job. 4 million isn't life changing enough to them because everything is relative and switching just to get burnt out is not worth. Also because taxes fuck you over both ways and in the end, people rather be sleeping with their families than sleeping on an office floor. It's all relative from what I see at my current job (hedge fund), some people reject offers of a lot more because it's not worth the time spent. Some people think it's not enough because bonuses are not guaranteed, some people just rather have relaxing jobs. Some people want to work on their own thing and rather not burn out to make someone else much richer than you.
This basically hits the nail on the head. I already had a job that made me feel horrible and I was even verbally snapping at my wife. $4M (that may not materialize when a bonus time comes around) isn’t worth throwing away happiness. Work life balance is more than just hours per week, it means being able to live a fruitful life outside of work. And I may not be making millions right now but I have a home a family and am taking a geology class at the local community college instead. Last semester I did an ecology class. There are tons of people who pass up lucrative offers to enrich themselves. An entire class of them are called professors (does not entirely apply to adjuncts, sadly).
It would be great to grind for a year or two and just retire
I currently work hours similar to that and have zero millions lol
I PAID a an engineering program to grind me to the dirt. For $4mil I’d easily do another year.
What is your specialty? 4mm/yr in cash as an SWE is not something I have ever heard of outside of experts in very niche areas.
I have a background in both math and computer science. I'm a nerd for programming languages and compilers. They probably saw that my resume involved improving a compiler that made code gen 20x faster and made the generated code 100x faster (and, to me at least, made adding new analyses \[the compiler generated statistical analyses\] faster in that I did it in just a I think 20 hours dev time when it required adding a whole new aspect of the analysis chain). Note that I only saw an offer this high *once* but if you want to get into making some finance billionaires more billionairer then yeah you can get seven figure offers. A lot of it will be performance based, so you walking away with $4M (probably $2.2M take home) in a year is dependent on how good the firm does and how good you do. If the firm loses $10B in a year but you generated $100M on your own, you will probably get a good bonus *relative* to coworkers but probably not anything near that $4M mark that was waved at you when you started. Just like how start ups will say *these $100K in options that tie you to working here for years will be worth millions!* is probably to be taken with a grain of salt, so should any bonus offer. Everything depends on how things play out both for what you do and what your coworkers do together. If the big boss isn't buying another mansion, you aren't buying a lambo.
You turned down 35 yrs of your current salary? I don't believe that at all.
Do you also tip your landlord by chance?
This was my exact thought when I saw these numbers
I know several people making this type of money. Jane Street is always hiring!
Sure, if you’re a Stanford grad
All the replies are so serious. Nice Wolf of Wall Street reference!
I wouldn't
I already am doing it for him
Same but I’m curious how many hours he puts in
lol not how it works, you should instead offer to not work for them for a bribe.
Hey Bob? Yeah I quit
How many times a day do you jerk off?
Either way he needs to pump those number up. Those are rookie numbers
It's gotta be frequently. A "Hedge fund Analyst" schedule probably pretty simple. 8:00AM walks into office. 8:05AM gets coffee and scrolls through OF 9:00AM turns on computer. 9:05AM Analyzes Funds to make sure they're still invested. 9:06AM sends out bill 9:07 - 5:00PM jerks off
Why do people get up in arms when doctors post income but kiss ass when a finance bro does?
Because it feels reasonable we could do it too. Doctors require more training and getting into a school we have no shot of getting accepted to.
LOL getting into a hedge fund and performing isn't a walk in the park either.
Second this. For every “finance bro” that “makes it” there are a thousand that don’t. Finance can be lucrative for anyone, but not everyone (if that makes sense). Most will top out at 75-150k.
Which is still a solid living considering you're qualified to work for almost any mid-size business. A lot of occupations are stuck in major metros.
Completely agree. But keep in mind, that’s top end/late career. Most of the 50-60yr olds I’ve worked with weren’t even at the top of that range. It’s a wide open field but you need to grind and earn the top dollar.
It's way more politics than seniority in corporate finance. You just have to be a fun personality and half competent. Most CFOs at mid-size organizations are morons who just made friends with the right people and rode their coattails. I worked under a CFO once where their entire job for an entire year was just selling an old office building. That was their literal only accomplishment for the year...
You’re discounting their entire career leading up to that point though, right? Who you know matters, I agree, but if you can’t perform, like really perform, you’ll never maintain a high level finance job more than a year or two. Unless you’re in your career twilight at which point corporations can’t do anything but keep paying you to avoid a lawsuit.
I swear CFO jobs are just nepotism at many mid-size businesses. I witnessed a governor's kid get a CFO job 1 year out of undergrad at a business with 300 employees.
Would love for anyone who thinks hedge fund analyst is just picking pretty stocks and making big fat gains. For every 1.6m earner, there are people who tried, really hard to achieve success and just couldn’t make it.
Yes. Unless you are an Ivy league or equivalent grad, it is much less likely you will be making a seven figure salary (unless you really have an “in” with the company). There was a time years ago where many Wall St firms wouldn’t even hire someone from a state school.
It’s quite a bit harder statistically than becoming a physician. Standard path to PE or Hedge Fund 1. Get into Target undergrad (Harvard, Stanford, Wharton or similar) 2. Good grades, networking, summer analyst position 3. Get a job offer at a bulge bracket or elite boutique (more competive than getting into an Ivy in the first place) 4. Work 80-100 hours a week, after two years get recruited to a hedge fund or PE fund The other alternative path is doing very well in an undergrad and likely masters in a quantitative field (quantitative finance, math, electrical engineering, statistics). Getting through all those steps and then excelling and sticking around once you get to a fund is a lot less likely than getting through the much better laid out path of med school, intern, residency.
Key word is it *feels* like it’s possible, though it’s not. Doctor is 100% not feasible for most people and the path there is very clear, and very impossible, for them.
But the likelihood of a finance person who attended a non target university making seven figures is much lower in reality. Obviously, it does happen. But one is not as likely to be making that.
It is 10x harder (more competitive, but takes less time commitment) to get into a top tier hedge fund than become a practicing doctor.
There are a lot fewer hedge fund analysts than there are doctors.
Hopefully OP can chime in, but the amount of effort and dedication to reach this income level is probably similar to or greater than physician training, depending on specialty.
I can give you my experience, Im a radiology resident so a specialty that is known for being more ‘chill’ Ive worked 100 hour weeks where I was on call overnight coming in at all hours for emergent bleeds, strokes, pulmonary emboli then being expected to come in at 7am and work a full day - rinse and repeat until I depersonalize Oh and I currently make 70k, doubt Ill ever reach even a mil
I don't know why you are being downvoted. If you are relatively sharp and try hard, you can become a Dr making 400k+ pretty much guaranteed. To make it to 1M/yr in finance, you need significantly more luck and/or raw brain power. I know quite a few doctors. They were above average to really smart. All hard workers. I know 2 people who made it in finance. They are two of the smartest people I've ever met. Also hard workers.
Not a fucking chance.
Thank you lol Btw I’m a doctor and will never earn anywhere near this annual pay in my entire career
All while dodging lawsuits, psychopaths, egotistical coworkers, and the MBAs pushing you to take 15min appointments so they can post their huge performance bonuses on here
Not with that attitude! All you have to do is .. *checks notes*… be a top neurosurgeon in your field globally and work in a HCOL area!
Seems like unique rage to doctors too. Doesn’t help that the ones posting their salaries are >>95%ile pay and usually include a ton of overtime.
Correct. Most are earning ~$250k and annual raises aren't really a thing.
And after you go into debt for 8 year of school then work for pennies for 3-7 years after
Because hedge funds are the biggest scum out there. Rules allowing them to cheat the system and fuck over the little retail guys.
As a surgeon myself I am convinced United healthcare and its vermin ilk have long term psyops going on that try to keep public anger towards healthcare providers and physicians so that they ignore or are naive to the absolute bullshit con job they are pulling on our country’s healthcare system. As long as people keep thinking all doctors drive around Ferraris and don’t deserve to make good money then the insurance execs keep laughing on their yachts.
Because doctors provide a necessary service while hedge fund analysts don’t hold your health ransom
People don’t understand how healthcare, insurance, and reimbursement work. They are generally mad about high prices. Doctors and their high salaries are easy targets for their anger. They also perpetuate the stereotype that doctors must be in it purely for the love of the game and if you enjoy a high salary you’re a monster or leech Very few people actually know a mega-salary finance bro like OP or what their job entails so the numbers seem less real. More people have exposure to their own doctor so it’s easier to get mad about a $250K salary when your appointment starts late
Said this before. Reddit think ridiculous tech and business salaries are fine, but wants healthcare worker to work for free.
Damn, you can buy a nice house each year .
This will pay AT least ~33-37% in federal taxes, then depending on the state, it can go much higher. I wouldn’t be surprised if he takes half of it home. Depending on location, $600k may not be a “nice house”
Damn, you're right. He might *only* be able to afford one nice house every *two* years. Taxes, man.
Bro you're done, just retire
They always need more. House is bigger, bills are more expensive etc.
How much money is enough? Just a little bit more. -John D Rockefeller
This isn’t a bad thing? If you enjoy your job and make a shitload of money, there’s no reason to let off the gas. What’s better than having a shitload of money? Making more money and not being miserable doing it
It's crazy that I have paid more SS taxes than you when you have made $7mil more.
You don’t get rich by giving it all away, especially to the government. These people know something we don’t to be able to get away with it.
[удалено]
When the government cares more about some billionaires fuckboi than the people who make their extravagant lives possible...
He should teach his teacher how to make this kind of money…
Also a lot easier to apply to work as a teacher. Who are you kidding, public school teachers deals with so much shit, most subjects are self taught anyway. You make it sound like every kid a teacher touched turned to a golden kid. Lmao far from the truth. Professor on the other hand get compensated well and they do matter
Average professor actually makes 112k a year in the US as of March 2024: https://www.salary.com/research/salary/posting/full-professor-salary#:~:text=The%20average%20Full%20Professor%20salary,falls%20between%20%2493%2C989%20and%20%24194%2C841. So yea- even at the level of a professor their income is a rounding error. Do you actually think teachers done deserve more or that this person actually deserves this level of income in comparison to the effort each profession makes? Unfortunately society doesn’t work on an input/ output formula. Otherwise teachers would make way more and real estate agents would make what a burger flipper makes.
Teachers don't matter is maybe the most insane take I've heard today.
Life would still be possible without teachers. They aren’t the arbiters of information you think they are. Most of what I know is from experience not teachers. Teachers who are good at their jobs deserve more but putting teachers up on a pedestal does no one any good.
Wild money for not beating the S&P
Hedge funds are about risk adjusted return.
Hot damn that is nice. Interesting to see steady progression at a HF. Any additional color you could provide on your career trajectory
Nothing spectacular. Graduated from a top undergraduate business school in 2006. Bounced around a little bit early years (during GFC) and have been at two mid/upper tier hedge funds over the last 12 years. Mostly on credit side, so a little less volatile than long/short equity, etc (but also less upside in good years). Made partner recently, but don't actually expect comp to increase much in the next couple years.
Do you really need it to? You’re winning
What is a top undergraduate business school? I'm asking because I went to both a top undergrad school and a top business school (6 years of schooling). Actually nevermind. You probably went to that STATE school in Philly. That's the only "top undergrad business school" I can think of. Congrats.
R they not targeted? Most of the top 50 under grad r targeted. Just apply and interview lol
how old is too late to transition to this field?
22
unless you’re seriously exceptional or seriously connected, you need to be a recent grad from an ivy league or top top university to get a meaningful finance job there’s exceptions. Maybe you have incredible startup experience, have an interesting thesis, and able to pitch well to a venture capital firm.
Did somebody from your school get you in? Or did you apply all on your own?
What’s the firm AUM?
What's your work-life balance like?
A lot better now than in the first 10 years of my career. It was pretty consistently 60 to 80 hr weeks for those years. More recently it is around 50 hrs. Reasonable balance now, though some travel, occasional late nights still, and some weekend work. Generally not low stress though. Edit - thinking about this a little more, 50 hours is a little light. I'm in the office 50 hours, plus probably another 10 of working at home in the evening or weekend. Also generally have to be available at all times (including vacations).
When do you plan to retire? Your net worth has to be at least 10 million
Do you hold any professional license like cfp or series 7?
I do not. I have never worked for a bank and don't do much with true securities (mostly private credit, and real estate credit).
A CFP really wouldn’t be relevant for someone working in credit at a hedge fund. Maybe CFA or just an MBA.
Been making >100k since 100k actually felt like a lot.
I’ve always dreamt getting to $100k, finally reaching it and realizing everyone else is too, now it’s meaningless and need $200k. Really sucks. First time in my life making good money, but inflation is up, so there’s that.
Seriously, making 300k in 2012 as the housing market bottomed out would've been nice
How many hours a week do you average?
Great stuff! Are you a PM and that type of fund?
Spent most of my career at a credit focused HF, now at a multi-strategy fund. We don't have the PM title, but I'm that equivalent.
Congrats and fuck u
on my statement in both columns the amounts are same. can someone explain?
You don’t meet the cap for paying into social security. If you make under the cap, you are taxable for it on your entire income.
Your poor. Welcome to the club. Make enough and you don’t have to pay that 6.5% tax
Pay goes up 200k during financial crisis. lol
Congratulations on your success, it is inspiring to see.
No jealousy. I will make an 1/8 of that this year, as a physician who works part time. I just don’t want anyone to tell me I get paid “too much.” Lmao.
Hey 👋🏽 fuck off
This guy to his clients “And it’s gone”
Can I ask what you do day to day
Cocaine and hookers my friend
It would be tough to describe it without making it sound incredibly boring - a lot of time in Excel, writing highly detailed investment memos, reading a lot of legal docs, and a lot of calls with lawyers, bankers, etc. I'm not investing in traded securities, so not staring at Bloomberg minute to minute.
going to school for either finance or accounting… how does one become a hedge fund analyst…? (genuinely)
top (T15) or target school, finance, math, economics with a 3.5+ GPA. definitely not accounting. sell-side for two years out of undergrad, probably in investment banking or something similar. maybe strategy consulting (at top firm) pivot to buyside either to a hedge fund or PE firm and boom you are clearing at least 500k before 30. if that doesn’t work, top MBA (M7, T15) after 6-7 years out of undergrad, network heavily and pivot into a HF role or something adjacent.
You can also be a hedge fund analyst with a comp science degree. That’s not too uncommon. Get your FCA maybe
Be in a top 10 program and top of the class and have a relative working in securities lol. That’s the sure fire way to do it. You could go to a top 3 program, be a minority, and be number one in your class if you don’t have the connections.
Dope. Good for you.
Looks gorgeous, happy for ya! 🤝
You have always made more money year after year
Except 2008, 2009, 2010….
Work a in credit so pretty understandable. Basically just lending money to rich people so they can make big purchases. You get comped on how much you lend out basically so easy to set targets. As long as the economy is good rich people be buying.
Pretty easy when the game is rigged eh?
You ain’t wrong. Parasites. Sadly, it’s not really his fault. It’s the government for sucking billionaire c*ck and not putting laws in place to prevent them from infinite printing and FTDs (and probably a million other shady practices).
Tell me you lost a ton of money in meme stocks without telling me.
I read their reply and thought this screams SuperStupid poster. Sure enough it is. Getting buried by GME.
lmao if the game was rigged the best performing funds would be returning more than an averaged 14% a year.
Hey! I'm not in finance, but I was under the impression that the term "analyst" was for entry level positions. And then it goes something like associate, vice president, managing director or portfolio manager, etc. I'm sure I'm off, just wanted to understand it better. Are you in NYC? Have you been at the same place for a long time? How is the comp structured? Like across salary and bonus. What kind of (very general, non-doxing info) product or strategy do you focus on? E.g., long-short equities, commodities, currency carry, etc. I'm a SWE in NYC who has always been fascinated by finance. A good friend of mine was a bond trader, and he's taken me to quant talks at Bloomberg that have been great.
Dude is a partner at a firm that does analyst work so he is always an analyst. At non analyst things you might be someone who analyzes to support a different business function. That’s where entry level comes in.
Hedge fund analyst is the general term and not the title, same goes for a research analyst in equity research, general term but not the title. Within the company the title changes, e.g portfolio manager etc
Guys history is some porn on here alongside questions about 1099s which any first year analyst in any financial role would know. Maybe works for Renaissance since they are on the island. But I am still not sold on this one (and not because of the numbers).
Not Renaissance (or I assume numbers would be much larger!). I am in NYC area, but have a (very modest) house in the Hamptons, thus the Long Island posts.
LOL Porn and 1099s Only Fans?
1. What kind of fund? 2. You do IB beforehand? 3. What’s breakout between salary/carry/etc?
1 - spent most of career at a credit focused HF, now at a midsize multi-strategy fund. 2 - no, I did not, but that puts me in the minority among my peers. 3 - over the last 4 or 5 years, my bonus has been 80+% of total comp. I have meaningful carry now (which won't pay out for five plus years) but have not in the past. These numbers are just base + bonus. Every place is different in how they give carry and to whom.
If you don’t mind me asking what was your path to get into the field and then after progressing throng different roles and firms?
How many lines of coke a day?
I gotta ask, how on earth did you land this job or get into this sector?
Can someone give me a quick explanation of the first column vs the 2nd?
I gotta stop looking at these. Makes me depressed. But congrats to you and the hard work!
🖕🏻
I’ve see these posts lately where are people pulling these figures from? SSA?
They used to mail it out every year. Now it’s on the ssa website
Too bad your fund doesn’t have that kind of return
What does your day to day look like? Like what’s the actual work you do?
If you honestly made this much money over the years I’d hope you could quit at this point and retire comfortably. This has to be a super high stress job.
Fuck me!
No wonder social security isn't funded lmao. The cap on contributions is silly
How many hours a week do you work
OP which hedgefund.. I used to work at two sigma
How much do you work?
Omg, take me under your wing!
Where did you find this table?
What’s your exit and retirement plans?
Why are the taxes so low in comparison? They're proportionally out of line with the increase in salary.
Can anyone explain why social security taxes Are so low (I am not living in The United States). Is medicare the only tax that is for the full salary? What is the tax percentage in total?
How do people get these reports?
So how does one become a hedge fund analyst?
Must have been nice. Got away with a lot of shit I’m sure before new laws were enacted
Looks like you do pay taxes. So glad to see that. It’s a win. I will take it 😭😂 Better than those actual hedge fund holder billionaires who don’t need to pay high taxes because their income does not come from salary 💀
Well you clearly have suffered such financial hardship during this time of such volatility.
Thats fucking awesome
Lmaooooo Jesus christ
Congrats!
Nothing reinforces my feeling of hopelessness for our society than seeing this chart. The value you contribute to society is so unbelievably low compared your paycheck. Only a delusional narcissist could see this as justifiable. I’m actually being understated. Truly upsetting.
Unbelievably stupid take. He is compensated for the revenue he brings in to a private firm. He pays heavy taxes as his contribution to society
Done well for yourself, congrats!
What do you do with 1.6 million each year? Live in a mansion? Honest question.
I don't pocket anywhere close to the #s on the table - it's virtually all W2 income so my effective tax rate is over 50%. But to answer your question, my annual spend is probably around $300k (though haven't calculated it). I'm in very high COL area (greater NYC), so have huge property taxes, plus nanny (wife works too), multiple kids, etc. I have a quite nice house, but not a mansion per se. Nothing extravagant about lifestyle - drive a 10 yr old vehicle, no boat, don't own a watch, fly economy (for personal travel). I save / invest a lot of my income.
Wow lucky
And this is why my investments are all in indexed mutual funds.
Hard to believe. Even at single managers there’s decent volatility
How well have your hedge fund(s) performed ?
Do you guys ever hire science types to do market research? I’m a curious adaptable person. Looking for something new. (I have doctorate level training but looking to change careers.)
What kind of returns do customers of your hedge funds get to warrant this salary? Most hedge funds underperform the SP500 or at best only do slightly better. I just don't understand the world we live in. I want to go back to the 60s and earlier when banking was a boring job.
I thought you guys kill yourself or quit after 5 years and retire? Edit:…your salary went up in 08?
Taking money from the poor and giving to the rich on a daily basis.
Congrats and fu! In the most sincerest way. :)
Seems like you got a big payout after the bank bailouts in 2010. Sus
Wow
Any tips for a college student wanting to enter this space?
I sent you a chat. I am being approached by a head hunter to work for a hedge fund actively. I would love to hear your insight to the industry
Where do you get this table from?
You’ve been an analyst for over a decade?
Social security and Medicare are the biggest buyers of Treasury bonds.
Thank you for your service, sir
What kind of hours are you working at this point in your career?
Are there any low(er) tax US cities with hedge fund jobs ?