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March 24, 2004 at 07:00 PM
NAPERVILLE, Ill. (HedgeWorld.com)–Executive search firm HQ Search Inc. unveiled a survey of hedge fund industry executives and firms with the goal of creating a benchmark for industry pay.
HQ executives hope to create a statistically valid range of both base compensation and bonuses for just about any kind of hedge fund-related job, including positions in back office, customer service, trading, risk management and computer systems. “There’s a lot of different studies out there but nothing that can be considered an industry benchmark,” said Kathleen A. Graham, principal of HQ Search.
Given how hot the market is for qualified hedge fund personnel, the topic of compensation draws a lot of attention from both employers and employees. But industry players often are leery of sharing their salary and bonus information with outsiders.
To help attract as many participants as possible, HQ took steps to keep participants anonymous and will provide some survey results to participants for free.
Ms. Graham said survey participants will remain completely anonymous and the results will be filtered so that she will not be able to identify participants from their answers. HQ hired an independent market researcher, Janelle M. Barcelona, assistant professor of management and marketing at North Central College, Naperville,Ill., to compile and filter the raw data. Ms. Graham will have access to only filtered data, Ms. Barcelona said.
TASS Research, the hedge fund database unit of Tremont* Capital Management Inc., Rye, N.Y., is assisting with the survey by recommending to its database participants that they participate.
Ms. Graham said that use of a free email service, such as Microsoft’s Hotmail service, is allowed and that TASS members will be assigned a specific email to use if they want to use it.
