Hedge Fund Relationship Managers
Overview
Introduction
Many investment banks have prime brokerage departments that provide financing, brokerage and trading, custody, information, risk management, and administrative services to hedge funds. These services help the fund grow its business, attract investment capital, and operate smoothly. Relationship managers act as the go-between between the prime brokerage department (and other departments at the investment bank) and hedge funds. They educate hedge fund managers about the services provided by the prime brokerage and connect them to key ...
Quick Facts
Median Salary
Employment Prospects
Minimum Education Level
Experience
Skills
Personality Traits
Earnings
Prime brokerage relationship managers employed in New York City earned median salaries of $231,000 in January 2016 (the latest year for which data is available), according to Indeed.com. Earnings range from $80,000 at small hedge funds to $300,000 at firms with more than a $1 billion in assets under management. Relationship managers typically receive benefits such as paid vacation and sick days...
Work Environment
This career is fast-paced and sometimes stressful because hedge fund managers need information and other services quickly, and tens-of-millions of dollars are at stake if the relationship manager can’t fulfill a request promptly. Relationship managers work in traditional office settings. They must be available whenever a hedge fund manager needs them—so this job can involve work at nights and o...
Outlook
The U.S. Department of Labor does not provide an employment outlook for hedge fund relationship managers, but it does report that job opportunities for customer service representatives and financial analysts who are employed by firms that deal with funds, trusts, and other financial vehicles are expected to grow by nearly 22 percent from 2018 to 2028, or much faster than the average for all car...