The top 5 percent of hedge funds have increased the gap between the 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 comparing the sell side to the buy side,” Weinstein, founder of IDW Group LLC, said in a Bloomberg Television interview with Erik Schatzker and Stephanie Ruhle. “It's never been bigger, that divide.”
The biggest investment banks, including New York-based Goldman Sachs Group Inc. and Morgan Stanley, are setting aside a lower portion of revenue for employee pay amid regulatory pressure and shareholder demands for higher returns. Hedge funds run by Paulson & Co. and Elliott Management Corp. posted yearly gains, and Barclays Plc said this month the industry may see the largest net inflows since 2007.
Continue Reading for Free
Register and gain access to:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world case studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
