For all of the talk about tremendous salaries for hedge fund managers and executives, they earn an average of $250,000 a year, and only 3% earn more than $1 million a year or more. Managers earn an average of $364,566 a year, and analysts earn $205,381.
But 75% are dissatisfied with that level of compensation, Dow Jones reports, citing a Hedge Fund Search Digest survey of 232 executives from 200 hedge fund firms.
Evidently, greed is good, but greedier is better. When hedge fund executives hear about peers earning hundreds of millions of dollars a year, that leads to jealousy, said David Kochanek, president of the Digest.
“Even when you’re getting paid three-quarters of a million or a million a year, there’s still that, ‘What’s possible? If I make the move, am I able to double what I’m making today?’” Kochanek said.
As a result, there is high turnover at hedge funds, he added.
The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.