Monday, 27 April 2015
Last updated 2 days ago
Mar 15 2013 | 12:43am ET
Pay at hedge funds surged last year, fueled by a big increase in bonuses—themselves fueled by strong returns at the industry's best-performing firms.
Overall cash compensation rose 15% to reach an average of $314,000, according to this year's Hedge Fund Compensation Report. Most of the increase was due to a 31% jump in bonuses; the average hedge fund salary rose only 4%.
The increases were seen across the industry, with little difference between the largest firms and their smaller competitors.
"This year, we discovered a significant correlation between fund profitability and bonus size," report published David Kochanek said. "Employees of the best-performing hedge funds took home average bonuses of just over $200,000."
"Given similar performance, we expect 2013 bonuses to rise even further as many funds will reach their high water mark."
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…