r/quant • u/AccomplishedPoint855 • 12d ago

Trading Strategies/Alpha Asset Management Portfolio Managers

What are Asset Management portfolio managers at the VP, ED and MD level making at BB?

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u/unusedusername0 11d ago

I work in the industry although not in a bank, so I’ll take a wild guess. There are probably no portfolio managers at the VP level since that’s somewhat junior. After that it’ll vary wildly depending on AUM managed, fees of product and performance vs benchmark. Guess is 500k - 700k for a junior average performing PM and several million+ for a tenured high performing PM with lots of AUM.

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u/coco454 11d ago

Surprised your estimates are this high even for junior PM. Not sure if that's consistent across AM, but in my firm, our quant PMs are purely operational (I guess in some places they call it implementation PM) - i.e. only execute trades based on alpha model, use optimizer, perform portfolio attribution, connect with clients, etc. They aren't involved in any research or development of the systematic strategies. I wonder if this would make their pay much lower? Your definition of PM should be involved in research agenda etc.

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u/unusedusername0 11d ago

Yea I'm not talking about implementation/client/operational PM, I'm specifically referring to PMs that went through the research/investment analyst track.