Saturday, 23 August 2014
Last updated 16 hours ago
Mar 24 2009 | 2:00am ET
Amidst the populist uproar about taxpayer-funded bonuses at insurer American International Group, here’s a tidbit bound to bring a smile to the faces of schadenfreudicts: Hedge funders made a lot less money last year.
The average total compensation for hedge fund professionals fell 15.5% in 2008, and the average cash bonus fell 24%, according to Alpha magazine.
Alpha’s third-annual hedge fund compensation report found that the average total compensation for all hedge fund professionals fell from $940,000 in 2007 to $794,000 last year. Worse still for hedgies, a quick rebound seems altogether unlikely.
“A third of this industry is going away and not coming back,” John Pierson, CEO of search firm 10X Partners, said.
Alpha polled 800 professionals at almost 550 hedge funds in 30 countries.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note