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.
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