The top 5 percent of hedge funds have increased the gap betweenthe amount they pay traders and what Wall Street banks offer,recruiter Ilana Weinstein said.
“The chasm there is great, and maybe it's time to stop comparingthe sell side to the buy side,” Weinstein, founder of IDW GroupLLC, said in a Bloomberg Television interview with Erik Schatzkerand Stephanie Ruhle. “It's never been bigger, that divide.”
The biggest investment banks, including New York-based GoldmanSachs Group Inc. and Morgan Stanley, are setting aside a lowerportion of revenue for employee pay amid regulatory pressure andshareholder demands for higher returns. Hedge funds run by Paulson& Co. and Elliott Management Corp. posted yearly gains, andBarclays Plc said this month the industry may see the largest netinflows since 2007.
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