People need to change their perception regarding most well earning profession. General stereotype points out towards the investors like Warrant Buffet, who earn in billions. But the people who manage these massive investments are also not behind in terms of income. The hedge funds such as big pension funds performed average last year, but the people who managed those funds on behalf of the investor community have been earning a massive amount.
The data released during annual ranking by Alpha magazine, a publication for institutional investors suggest that first 25 hedge fund managers earned a combined salary of $11.62 billion last year. The hedge funds, once a lucrative investment is now growing at very low single digit rates but its managing executives are earning well. The Standard & Poor’s benchmark 500 index have been increased by 13.68 percent last year along with reinvested dividends. Interestingly no woman has made to the list of top hedge fund managers yet, these executives are managing ever-growing firms.
These corporations are becoming powerful and their influence is surpassing the boundaries of the Wall Street. The companies have power to decide the advisers of the US government along with important officials in the American central bank. The hedge fund lobby is one of the powerful in the Washington and makes significant contributions to national political campaigns. Kenneth Griffin became the highest paid hedge fund manager by taking $1.3 billion in the form of compensation. Griffin started trading convertible bonds during his student days at the Harvard University.