"ATP*" wrote in message
...

"Ed Huntress" wrote in message
...


The NYT says starting salaries for freshly minted analysts in areas that
deal with risk, such as hedge funds, are running up to $200,000/yr.
That's *starting* salaries.

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Ed Huntress

I think that's a very small number of the best Wharton grads, or at the
quant funds like Renaissance, exceptional math PhD's. In addition, the
bottom may be about to fall out of that market. But I agree the
compensation is incredible. Private equity firms charge 2% of money under
management and 20% of net gain. Many of these funds are over a billion
dollars and the firms may consist of relatively few employees whacking up
a pretty big prize. Makes the rest of us wonder why we didn't even think
of a career in finance......

As you say, though, it comes and goes like the tides. At one time a seat on
the NYSE was a license to print money. Then it started to go south, and
various kinds of arbitrage took its place, ending with risk arbitrage
(Robert Rubin's former career). Then it was currency, and then a few other
things, and, today, hedge-fund and private-equity-fund management.

Those jobs aren't very transferable so you have to make it quick. In some of
those jobs, it's assumed you will commit suicide or quit before you're 50.
They give huge bonuses and it's very déclassé to spend them. You're supposed
to save $10 or $20 million or so for your early retirement.

It's not for me, although there are times...

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Ed Huntress