You didn't have to be a star portfolio manager and a hugely successful hedge fund to rake it in this year. Although it helps.
Hedge fund professionals have seen higher compensation for the third consecutive year, with the average salary for an entry-level analyst at a mid-performing hedge fund totaling $335,000 in 2013, an industry report has found.
Portfolio managers at large hedge funds should also be grinning right now, given that average salaries have reached $2.2 million, the 2014 Glocap Hedge Fund Compensation report, released Thursday found.
The hike in compensation levels was largely the result of an increase in bonuses rather than base salary rates, the report found….
Entry-level analysts at large firms saw a rise in bonuses between 0 to 10 percent in 2013, while portfolio managers and other senior professionals at large firms saw bonuses ranging from a decrease of 5 percent to an increase of 20 percent.