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Opalesque Exclusive: Hedge fund salary expectations for 2009 are low, but competition remains fierce – insights on positioning yourself in a job search From Kirsten Bischoff, Opalesque New York:

Negative performance in 2008 resulted in an average salary decline of 24% for most hedge fund professionals (according to the recently released Alpha Magazine 2008 Salary Survey), and 2009 may be bleaker yet. Many hedge fund firms face a 12-24 month positive performance climb to reach high water marks before performance fees will take hold again and that will result in a direct hit on bonuses for 2009.

Outlook is not completely dire – the buzz on “building bench strength” With hedge funds also facing a diminished asset base, the management fees that pay for base salaries, benefits, and many other things will also be reduced in 2009. However, recruitment firms predict base compensation will not decline further but remain flat.

Firms are not looking to specifically lower compensation, but the upside will not be there as it was in years past says Deborah Markus, Founding Partner at New York-based executive recruitment firm Columbus Advisors (www.columbusadv.com)

And yet, even with lower salary expectations for the foreseeable future, hedge fund firms will enjoy one of the most competitive job markets in its history. For those firms expe......................

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