I know it's a tough job market but this is ridiculous

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iheartiheartmath

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Saw this job posting on an employment website. I have an idea which fund this is, but 30K for 2 years of investment banking experience is just a straight-up insult.

Position Available - Junior Investment Analyst

Location New York, NY
Sector Net-Net Activist Fund
Salary $30K/year but increasing as AUM increases
Well known activist fund that went from $1 billion in AUM to just over $50MM in AUM mostly due to redemptions. Rebuilding JUNIOR team and need two junior analysts.
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Need hard working JUNIOR analysts with two years of investment banking experience. Not looking for more experience than that or for people with different skill sets. We are rebuilding and can only afford to pay a minimal amount, but salary will increase as AUM increases. Pre-MBA and hard working.
 
they should make that a -30k and make the analyst pay they to grow that aum
 
How can you survive with 30k in NYC? This is pretty bad but. Despite the economy I think any guy qualified for this job could find work elsewhere.
 
Agree. I know a lot of senior-level people working for practically free these days, won't be hard to find some IB schmo from Jefferies who wants to work for a hedge fund.
 
Unemployment benefits might pay you more than this job. Good for recent grad or for interns but should not qualify as a FT job.

I am sure many I-bankers who used to brag about their 25$ job (120K for 16 hrs/day) might be crying as PE/HF industry is their main exit strategy.

This HF needs to close down. I mean from 1B to 50M is kinda shame for the HF manager.
 
iheartiheartmath Wrote:
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> Agree. I know a lot of senior-level people working
> for practically free these days, won't be hard to
> find some IB schmo from Jefferies who wants to
> work for a hedge fund.



+1 for Jefferies knock.

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With many out of work 10+ months....hurting to find $$ to pay daily bills.....and depressed...I am sure they will have no problem filling this. Just to do something till a better opportunity arises...
 
If I were going to take that type of career risk for that paltry sum, I'd be asking for equity. Then again, if the salary increases 1:1 with AUM, you are in pretty good shape by $250mm, assuming anyone will give money to that fund! Heck, it could be just founder money in the fund now.
 
Given the number of people that are out there looking for jobs, they probably won't have any trouble finding anyone. However, whoever takes it will likely only stick around long enough to find another job with better/more certain pay.
 
I think this is the most interesting part:

"Rebuilding JUNIOR team and need two junior analysts."

So basically, he's saying that everyone in the hedge fund except him was fired or quit. Eh..
 
Has anyone figured out what fund this is? Post it up. Why don't they just hire one analyst for $60k+ and give someone a "real" job.
 
iheartiheartmath Wrote:
-------------------------------------------------------
> Saw this job posting on an employment website. I
> have an idea which fund this is, but 30K for 2
> years of investment banking experience is just a
> straight-up insult.
>
> Position Available - Junior Investment Analyst
>
> Location New York, NY
> Sector Net-Net Activist Fund
> Salary $30K/year but increasing as AUM increases
> Well known activist fund that went from $1 billion
> in AUM to just over $50MM in AUM mostly due to
> redemptions. Rebuilding JUNIOR team and need two
> junior analysts.



Col. Hans Landa: I'm aware what tremendous feats human beings are capable of once they abandon dignity.
> --------------------------------------------------
> ------------------------------
> Need hard working JUNIOR analysts with two years
> of investment banking experience. Not looking for
> more experience than that or for people with
> different skill sets. We are rebuilding and can
> only afford to pay a minimal amount, but salary
> will increase as AUM increases. Pre-MBA and hard
> working.
 
I had an interview with Chapman back in 2008 but I said F this when I saw what a sham the fund was. The people were whackjobs too.
 
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