Hedge funds guys top NYC Salary Guide

<img src=http://www.oaktreecapital.com/OCM_Public/gifs/principals_2005.jpg>

I'm sorry but these fcks don't look like they could even trade their way out of a paper bag! Yet they got $26 BILLION under management!

www.oaktreecapital.com - a "hedge fund."

LMAO
 
here's the directors of this two-bit hedge fund, Greentree Capital...

<img src=http://www.oaktreecapital.com/OCM_Public/gifs/photos/howard%20marks.jpg>
Howard - after having one too many.

<img src=http://www.oaktreecapital.com/OCM_Public/gifs/photos/Karsh_Bruce.jpg>
the president - a very good basketball player.

<img src=http://www.oaktreecapital.com/OCM_Public/gifs/photos/russ%20bernard.pg.JPG>
Russel - practices sucking things.

<img src=http://www.oaktreecapital.com/OCM_Public/gifs/photos/Clayton_Kevin.jpg>
Kevin - works on brushing his hair to the right. also sucks on things.

<img src=http://www.oaktreecapital.com/OCM_Public/gifs/photos/Frank_John.jpg>
their attorney - good at picking things out of his nose.

<img src=http://www.oaktreecapital.com/OCM_Public/gifs/photos/Kaplan_Sephan.jpg>
Stephen ("it's Stephen NOT STEVEN!!") moonlights as a aftershave model.

<img src=http://www.oaktreecapital.com/OCM_Public/gifs/photos/larry%20keerejpg.JPG>
Larry - has regular contact with aliens.

<img src=http://www.oaktreecapital.com/OCM_Public/gifs/photos/K_David.jpg>
David - likes taking "cutie" pictures.

<img src=http://www.oaktreecapital.com/OCM_Public/gifs/photos/richard%20masson.jpg>
Richard - drinking buddy of Howard.

<img src=http://www.oaktreecapital.com/OCM_Public/gifs/photos/S_Stone.jpg>
Sheldon - dropped one too many hits of acid. Now works on walking up and greeting people on the street. Also plays Rudolf the red-nosed reindeer at his kid's school Christmas play.
 
Shiet Coinzy, that really gave me a belly laugh!

BTW, that paper bag that they couldn't trade their way out of, would it be brown in color? :D

PS. Do I detect an unhealthy obsession with these "chick-magnets" ??? :D :D :D
I bet they party after hours with women of "loose" (wow, one of the few ETers that spells that word correctly under the context) morals. :p

Then again maybe not...
 
Yes and no. Like any complex organization, it is hard to generalize what people at an ibank do, similarly, what does a person at IBM do? People in ibank do a large variety of things, investment banking (what you are referring to), trading, sales and trading, financing, modeling / quant, risk, retail brokerage, asset mgmt, etc.

Often, if one is lucky (or have good relationships), one can get into a new area in ibank. Those type of jobs can be very creative and rewarding at the same time. For instance, derivative trading in the mid 80s, hedge fund sales in the mid 90s, convertibles in the late 90s, e-commerce in the mid to late 90s, etc. Imagine doing a startup with a $500M bankroll and if some one runs interference successfully, almost free reign.

View from a 2nd year analyst is drastically different from that in 10-15 years. Yes, most of the skills required will be soft, it is entirely feasible that an MD will have no idea how to do a full valuation model, but that's no different from a law firm partner have not written a full brief in 20 years, or a CS professor haven't written a line of code in 20 years, etc. they don't have to, they would manage the "high level" concepts, it is up to the apprentices to do the grunt work. It is what the junior people are paid to do, until they paid their dues, and shown some promise, then they would be given some opportunities.

Quote from mahras2:

40%? What about those equity desks that basically fired during the recession (particularly the salemen). How about the bond and arb desks fired during 1998. Yes IB work still needs to be done. Winging means you can BS. Tell me does IB work need any incredible creativity? No. You basically look at what pitch books in the past said and take part in a grand ball of plagarization. Directly from a 2nd year analyst at MS. And yes the MDs and VPs are a bunch of arses which is for sure.
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Quote from nitro:

I agree that people in US government are payed way too little for the level of responsibility. In fact, it is probably the reason that we have so little choice who to hire (vote for) in the field.

120K for Chelsea is too much imo given her experience. Or perhaps it is too little!!!??? Either way, her salary seems strange to me.

nitro
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Singapore is a small country of 4M people but the president makes more than the president of the US. And the government does not hide that fact. Rather the government confronts the people about it, since she believes that it needs to attract talent, and reduce corruption. I rather have that than politicians trying to make money elsewhere, say through their healthcare stock trades.
 
Let's not forget Philip Purcell (former CEO Morgan Stanley) was former McKinsey too. How much value did he and his board of directors (many also McKinsey) destroy?





Quote from fxpeculator:

McKinsey lead Enron into collapse. The CEO Jeff Jeffrey Schilling was from McKinsey and they brought an entire barrage of consultants over to Enron before taking it into the ground. The corrupt and misguided "Asset Light" strategy all started at McKinsey and was praised as genius in the consultant community, before Enron sunk of course.

Now, McKinseyites are not your average guys, resumes with 4.0 1550 SAT's attached for the most are getting thrown in the trash, 165 LSAT or 650 GMAT, , don't think about it. Also, if your applying, make sure your from the right school as I know of a college graduate with perfect grades 4.0 and and 1590 on the SAT who did not make the first round of interviews because he was from the "wrong school". You would have to come from one of their feeder schools. I would have to say to my knowledge, there is no entity in America that is more elitist than McKinsey, save Skull & Bones.

These people who make it into McKinsey don't only have top 1% of their class grades and test scores and are from the "right schools" they have outrageous resumes like building the biggest snowman on record, working for the Gore campaign, Rhodes scholarship, fighting in Desort Storm, working for the UN, doing charity work in Sudan, stuff like that.

McKinsey has "in the box brains" meaning your not going to find billionaire ideas there, these billion dollar ideas are for the college dropouts to develop. But within the conventional box of intelligence, it would be hard to find better brains than McKinsey. It is a great place to "be from" as it is the "Bentley" of Corporate America but not a great place to be at.

But why would a trader think about working at McKinsey where top partners only bring in a couple million annually while top traders and fund managers bring in hundreds of millions? (Soros, Simon, Kovner, Lampert, etc.)

If you want bank and you have brains, boldness/balls, are emotionally detached, and have creativity, the markets are the best place for this person, not sitting in an office for 80 hrs a week trying to convince some hack CEO what is the best plan for him and his company to make a killing.
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Quote from rufus_4000:
A small story to show how cheap some wealthy people can be. I flew to Monterrey for a hedge fund conference once, a fund manager I know wanted to go together (sharing a rental car, etc, etc). Okay, no problem, when we were buying the plane tickets, this guy pulls out a "two-for-one" companion fare coupon for ATA airlines (imagine my eyes)! And wanted to stay at a Red Roof Inn (!!) 40 miles away. It is hilarious that we were spend the day in our suits with wealthy potential investors, then drive 40 miles back to our Red Roof Inn rooms. And when I mentioned to a mutual friend, he said, "do you know how much money he has?" "err, no, not really" "He has a Park ave south apt, next door to Henry Kissinger!" I was *floored*. I mean, this guy, whose *apartment* is worth > $5M, flies ATA and stays at Red Roof Inn. Of course it goes without saying that if we were not with clients, we were eating ... you gussed it ... McDonalds.

Rufus 4000:
As Money managers go, there are more egregious examples walking around. My wife works at an elite global long/short equity fund in S.F. capitalized at around $5 billion. The founder is notoriously frugal. Everyone is required to do all printing on both sides of paper. No manilla folders may be thrown away, they must be stickered and re-labeled. Everyone flies coach or Jetblue, including him. He never tips, and doesn't allow any tipping on any of the company credit cards. He once argued with the Coke machine vendor for 40 minutes over a nickel increase because he didn't get an advance notification. The litany of anecdotes go on, however I suppose this quality is what helps to make him one of the greats. Maybe you know of him.
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Quote from fxpeculator:

McKinsey lead Enron into collapse. The CEO Jeff Jeffrey Schilling was from McKinsey and they brought an entire barrage of consultants over to Enron before taking it into the ground. The corrupt and misguided "Asset Light" strategy all started at McKinsey and was praised as genius in the consultant community, before Enron sunk of course.

Now, McKinseyites are not your average guys, resumes with 4.0 1550 SAT's attached for the most are getting thrown in the trash, 165 LSAT or 650 GMAT, , don't think about it. Also, if your applying, make sure your from the right school as I know of a college graduate with perfect grades 4.0 and and 1590 on the SAT who did not make the first round of interviews because he was from the "wrong school". You would have to come from one of their feeder schools. I would have to say to my knowledge, there is no entity in America that is more elitist than McKinsey, save Skull & Bones.

These people who make it into McKinsey don't only have top 1% of their class grades and test scores and are from the "right schools" they have outrageous resumes like building the biggest snowman on record, working for the Gore campaign, Rhodes scholarship, fighting in Desort Storm, working for the UN, doing charity work in Sudan, stuff like that.

McKinsey has "in the box brains" meaning your not going to find billionaire ideas there, these billion dollar ideas are for the college dropouts to develop. But within the conventional box of intelligence, it would be hard to find better brains than McKinsey. It is a great place to "be from" as it is the "Bentley" of Corporate America but not a great place to be at.
More...

This is exactly correct.
For better or for worse (you decide) Mckinsey is probably the most sought after job for top tier grads.
The only comparisons are:

Goldman Sachs for finance
Cravath/Wachtell for law
Microsoft/Google for techies


Don't plan on working less than 60 hrs/week at any of these places.
 
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