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How to earn $360k in finance when you have no experience. UBS expanding investment bank

Where in the financial services industry can you achieve a job paying $360k when you haven’t worked in a relevant role previously? If the latest pay survey from U.S. recruitment firm Glocap is to be believed, you can earn that sort of money in the hedge fund industry.

Glocap’s data suggests that junior analysts at large hedge funds (those managing more than $4bn) can expect to earn $360k in 2015, following a 9% increase in base salaries and a 5% increase in bonuses. Sounds impressive? Portfolio managers at mid-size funds (managing between $500m and $4bn) are reportedly averaging $950k in compensation.

Before anyone gets too excited though, it’s worth bearing in mind that there aren’t many hedge funds out there that hire the utterly inexperienced. Yes, a few of the very, very biggest hire graduates, but most still prefer to take the pick of the crop from banks’ training programmes. A junior hedge fund analyst may therefore not be quite so unsophisticated after all.

Separately, the Telegraph notes that UBS is actually expanding its investment bank. While rivals are shrinking the size of their investment banking balance sheets, the Telegraph points that UBS is doing polar opposite: Sergio Ermotti said this week that he’s lifting the cap on UBS investment bank’s risk weighted assets from CHF70bn to CHF85bn.

From Goldman to SocGen (Reuters) 

A corporate finance MD just left Goldman Sachs and joined SocGen in Paris.

Jefferies Poaches From Citi (Bloomberg) 

Jefferies just hired this senior US treasuries trader from Citi.

And So Does Nomura (Bloomberg)

Nomura just hired Citi’s head of equities trading for the Americas.

Citi Hires FIG Banker (Reuters)  

Citi just hired a senior FIG banker from Deutsche.

RBS's Shrinking Investment Bank (Bloomberg) 

This could be the end of RBS’s US investment bank.

Deutsche's Legal Woes (Bloomberg)

European employees at Deutsche Bank hid information from US employees at Deutsche Bank to avoid getting into trouble.

Lloyd Blankfein's Routine (CNBC) 

Despite having cancer, Lloyd Blankfein is in the office every day. And when he’s not in the office, he’s on the phone.

There's Money In PR (FinNews) 

Credit Suisse is paying a quite enormous amount of money to its new head of PR.

Up All Night (Financial News)

Chronic sleep deprivation still totally normal in investment banks.

Getting In (Fast Company) 

How to get a good job when you have no experience.

What to do with your hands during a job interview. (BusinessInsider)

Stellar Opportunity (NASA)

Now hiring: astronauts. 

Quote of the Day:

“Show your palms: This gesture indicates sincerity and for centuries has been linked to honesty and submission,” what to do with your hands during interview.

AUTHORSarah Butcher Global Editor

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