If you're one of them sad impoverished bankers staring down the barrel of another bonus season bereft of hope and upside, you might want to stop existentially pitying your bros over in asset management...
Hedge fund professionals are expecting year-end bonuses to climb 39 percent at the end of this year, according to a survey of 500 buy-side investors. That view may be too optimistic, said a partner at the firm that did the polling.
Respondents on average said they’re looking for bonuses rising to $562,000 from $405,000 a year earlier, recruitment firm Odyssey Search Partners said Monday in a statement. Sector heads, partners and portfolio managers expect a 79 percent rise to $1.38 million.
That's right, the hedge fund industry - the one that's dying so hard because everyone hates active management and the fees it rode in on - is about to give out all the money. It's almost as if hedge fund bonuses aren't completely tied to performance.
Eat your hearts out, Bank of Americans.
Hedge Fund Managers Expect a 39% Bonus Bump [Bloomberg]