Hedge Funds

Still getting the best pay

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Professionals employed by hedge fund groups typically earn 69% more than their peers at more traditional investment shops, according to the findings of a recent study by New York-based Russell Reynolds Associates and Charlottesville, Va.-based Association of Investment Management and Research.

The survey found that salaries have remained relatively steady across the wider investment industry, though average cash bonuses fell from $50,000 in 2001 to $30,800 in 2003. While compensation was strongest with hedge funds, professionals at endowments, banking groups and pension consulting funds felt the crunch of the recession the most. The median for global equities analysts fell