{ "media_type": "text", "post_content": "I work as a quant/associate at a large (>300 billion aum) long only mutual fund. Ive been here for about a year, but seeing how crazy the job market is, I’m wondering if I should put feelers out again. I like my coworkers and I work good hours. I get 110k as base, and got a 10k sign-on bonus. They said min bonus is 15k, but I’m not sure what the range is as I haven’t been around for a bonus cycle. This in a HCOL city. I also get 30% match in my retirement accounts. I have ~2 YOE. Thoughts?", "post_id": "61742bc5df479c0027470682", "reply_count": 11, "vote_count": 1, "bowl_id": "5b7c3919448e9300186d3deb", "bowl_name": "Private Equity and the Buy Side" }

I work as a quant/associate at a large (>300 billion aum) long only mutual fund. Ive been here for about a year, but seeing how crazy the job market is, I’m wondering if I should put feelers out again. I like my coworkers and I work good hours. I get 110k as base, and got a 10k sign-on bonus. They said min bonus is 15k, but I’m not sure what the range is as I haven’t been around for a bonus cycle. This in a HCOL city. I also get 30% match in my retirement accounts. I have ~2 YOE. Thoughts?

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Excuse the weird job title, not sure why it’s showing up like that. Also, they run VERY lean for the amount of assets they manage. I know every job talks about growth prospects, but that is a tempting factor. I’ve heard the higher ups get paid a lot…anecdotally.

I’d be cautious around leaving with <1yr at your current job and you def want to stick around for bonus season if you don’t hate your life. But nothing wrong with putting feelers out or generally getting a sense of what your “market rate” is

Thanks, that’s what I’m thinking. Def going to stick around until bonus season. Thoughts on my comp rn? I know it’s not really comparable to hedge funds/PE, but I don’t really work more than 45+ hrs a week, most of the time it’s around 35-40. Also, any advice on figuring out what that market rate is? I got this job by just applying, but I’ve heard headhunters/recruiters can be helpful.

Don’t have advice, but would be interested in how you got this role/what you did before

I did basically the same thing at another buy-side fixed income shop out of college. That was a two year associate program, and I applied for similar jobs (buy-side quant-y jobs at long fixed income shops) as it was ending. Honestly, pretty nice life. Not super stressful, but from what I’ve read I’m probably not making as much as some other buy side places, like hedge funds/PE. I did have offers from places like that last time I looked for a job, but I place a premium on work/life balance. Downside to this world is that I’ll need a CFA + MBA to move up, but it’s not the biggest deal in the world.

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It depends on your YOE and how many previous roles you have had in the past (Ie if this is your first role and you’re leaving < yr, a red flag… if you’ve had other roles w longer track records, less impactful). I think fixed income may pay a little less than equity, but your comp (if relatively new grad) doesn’t look too far off.

Yeah, I graduated about 2 years ago. This is my second job out of college, was in my first for about 1.5 years

When you say 30% deferred, do you mean you get at least (110 base + 15 bonus)*1.3 ~ 162-175 (without and with signing bonus included)? It sounds in line with top long only funds’ pay for junior quants without grad degrees. Would try to put out resume to see if you can land quant hedge funds, which would pay more like 250+ Source: worked as junior quant at LO with 1T+ AUM. Interviewed with Citadel/AQR and know some numbers from there

Yeah that’s right. To get the full 30% I have to stick around for a few years I believe to get all of it, don’t remember how long off the top of my head.

I’m not sure the “crazy hiring mkt” really applies to AM. At a big long only shop and analyst roles are pretty hard to come by. If you like the role/firm, probably worth asking what the promotion likelihood looks like. I feel like long only funds tend to underpay their associates but analyst comp ramps pretty significantly.

Thanks. I’ve heard the same about associates not making as much at AM. Mind if I message you about this? Have some other questions for someone else in this world

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