As bankers on both sides of the Atlantic worry about government moves to reduce—or take their share—of their pay, hedge fund employees are breathing easier this holiday season.
Most of those working for hedge funds say they expect a decent pay hike this year, according to a report from Hedge Fund Job Search Digest. But that’s not to say that they are happy with the compensation.
More than 60% of hedge fund employees say they aren’t happy with their pay, including more than 80% of analysts. Back-office staff were much more satisfied with their remuneration.
Still, the average hedge fund employee is expected to make almost $300,000 this year. More than 7% expect to make more than $1 million. More than a quarter say their pay will rise 15% from last year, with 9% expecting to double their compensation from 2008.
But that comes at a price: Just 25% of hedge fund employees say their work/life balance was “good.” The average hedge fund staffer works between 50 and 60 hours a week, according to the survey.