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Hedge Funds Widen Pay Chasm Over Banks

Recruiter says gap in trader pay has never been wider; investment banks deny that means the best traders are jumping ship.

By Michael J. Moore, Bloomberg | Updated on January 29, 2014

The top 5 percent of hedge funds have increased the gap between the amount they pay traders and what Wall Street banks offer, recruiter Ilana Weinstein said.

“The chasm there is great, and maybe it’s time to stop comparing the sell side to the buy side,” Weinstein, founder of IDW Group LLC, said in a Bloomberg Television interview with Erik Schatzker and Stephanie Ruhle. “It’s never been bigger, that divide.”

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