Compensation

The executive suiteWhen he woke up on the morning of Oct. 5 — a beautiful fall day when many New Yorkers started raking leaves — Mark Guindi never imagined he would rake in something else: a cool $12,000. “It was the craziest thing,” says the handsome 24-year-old Brooklynite, who scored big in a fantasy football tourney called FanDuel NFL Sunday Million. “I wake up one day, put up a $25 entry fee, and I make 12,000 bucks.” Guindi is now making a name for himself in the upper leagues of daily fantasy football, drafting a team of real-world athletes to pit against other players. In three weeks, he’ll be trading his winter jacket for suntan lotion as he hits Vegas for the ultracompetitive Fantasy Football Championship sponsored by daily fantasy sports league site FanDuel. There, he’ll be vying for a $2 million jackpot, against the country’s top 100 players…Guindi is just one rising star in a constellation of fantasy players in the US and Canada — about 41 million, up 5 million in the last year alone. While only a small percentage is composed of money-hungry DFS players, their numbers are also on the rise. FanDuel expects to pay out more than $500 million in prizes this year and more than $1 billion in 2015. Its active users will likely hit 1 million this year — more than quadruple the previous year. [NYP via Matt]

bill grossThe compensation committee keeps the minutes of its meetings private, but considering that Gross far surpassed any expectations parent company Allianz might’ve set in the aforementioned areas, it seems obvious crows1 and alienation figured significantly in his 2013 pay. Read more »

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Janus Warns Shareholders On Effects Of Hurricane Bill

bill_gross_mustache3Luring the Triple Crown of Newport Beach to Denver comes at a cost. Read more »

  • 17 Oct 2014 at 4:33 PM

Compensation Watch ’14: Fed Chairs

Screen Shot 2014-10-17 at 4.32.03 PMJanet Yellen apparently needs to sit her boss down for a frank talk re: how much she’s valued by this organization. Read more »

Figures from Emolument.Com, the real time pay data company, suggest that pay for young people in front office investment banking jobs increases rapidly between the ages of 25 and 30. When the investment banker salary and bonus are combined, Emolument puts average total pay for 25 year-old bankers at ‘just’ £67k ($109k). Five years later, it puts average pay for 30 year-old bankers at £196k ($320k) – an increase of 193%, or an average of £25.8k a year. If you’re a 25-year-old who works in investment banking, it clearly makes sense to hang around for another five years – at least. After 30, Emolument says average compensation in investment banking continues to increase, but at a slower rate. Between the ages of 30 and 35, the average banker experiences another 80% increase in total compensation, to £354k ($578k). Between the ages of 35 and 40, total pay increases by another 48%, to £430k ($702k). [eFinancial via Matt]

Almost nine out of 10 women polled reported that men in equivalent positions received more pay, while 51 percent of men agreed, according to the survey released yesterday by eFinancialCareers. A third of women, who made up 30 percent of total respondents, said they’ve been discriminated against because of their gender, the job-search website operator said. [Bloomberg]

…in which case, better luck next time. Read more »

  • 21 Aug 2014 at 11:49 AM

Pay Hike Watch ’14: Raises For Everyone (Under 25)!

Well, raises for everyone at Goldman Sachs, Morgan Stanley, and Bank of America. JP Morgan and Citi are still pondering this one. Read more »