Anyone who says the American Dream is dead doesn’t work at a hedge fund.
Last year, hedge fund employees earned more money for lower performance.
The 2015 Hedge Fund Compensation report indicates that hedge fund professionals’ bonuses and salaries increased this year, and that funds plan to boost hiring in the near future. However, according to the report, bonuses were not necessarily tied to fund performance.
The eighth annual report, released by Benchmark Compensation, indicates that average base salaries increased by 7% this year, while average bonuses jumped by 16%. Average cash compensation registered at $368,000, a 12% increase over last year. The average hedge fund employee reported their base pay was about $167,000 and that bonuses would comprise 54% of their total cash compensation.
“Again this year, solid fund performance results in significant bonuses,” said David Kochanek, publisher of the report. “The difference this year is we saw a reduction in the correlation between fund performance and bonus levels.”
More here – FINalternatives.