Compensation Report: Hedge Fund Compensation Expected to Drop for First Time Ever
September 12th, 2008 | Posted in Compensation Report, Blogroll
It is not surprising that the global economic meltdown will affect MBA compensation, but the hedge fund world was supposed to “thrive” amid the ups and downs, as these funds are designed to perform amid volatility. Well, apparently, no one is immune to this downturn. According to the New York Times, recruiting firm Heidrick and Struggle has a watch list of one hundred hedge funds that it considers likely to fail. Meanwhile, Glocap, another recruiting firm that also tracks compensation trends, expects hedge fund compensation to drop by 16-19%, the first drop since the firm began tracking these trends in 2001. Granted, the average junior salary would still be $174,583 and the average senior salary (four years+) $393,333, but, nonetheless, nobody likes a paycut.
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