2009 turned out to be the best year ever for big money earners in hedge fund jobs, according to an article in HedgeFund.net. Quoting the annual survey of top earners released by AR: Absolute Return + Alpha Magazine, it showed the top 25 hedge fund managers made a total of $25.33 billion in 2009. That’s a jump of $2 B over the previous record of $22.3 B in 2007.
Among the top earners were hedge fund stars such as Appaloosa Management’s David Tepper ($4 billion), George Soros ($3.3 billion), Renaissance Technologies James Simons ($2.5 billion), John Paulson ($2.3 billion, and SAC Capital Advisor’s Steve Cohen ($1.4 billion).
The Hedgefund.net article also quotes well-known hedge fund recruiter Bob Olman, of Alpha Search Advisory Partners, as saying that hiring has gone from near-zero to hero, since mid-2009. Olman says firms cut too deep during the crisis and now have to beef up their teams.
Demand for distressed debt specialists has waned. While interest is up for those with sector-specific equity-long short, marketing skills and contacts, and particularly those with long-term relationships with big institutional investors.
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