While their banking brethren received word of compensation with directions to go outside if they had to cry, adolescent portfolio managers at hedge funds did well to quite well for themselves last year, as did everyone else they work with.
Hedge fund firms generally had little to boast about in 2013, with the industry trailing a racing stock market and long-short managers hamstrung by their short positions. But there was good news: compensation. Fueled by fat bonuses, total compensation for senior portfolio managers rose 27.6 percent, to $1,465,468, according to the 2014 Hedge Fund Compensation Report by Institutional Investor's Alpha. Junior-level portfolio managers did even better, with their compensation surging 81.3% over 2012, to a mean of $887,717. Across the board, investment professionals enjoyed substantial pay hikes in 2013, with total mean compensation hitting $947,443 last year, an 18.5 percent increase over 2012, when they took home $799,259.