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From Kirsten Bischoff, Opalesque New York:
For most hedge funds 2010 was a year dedicated to finding steady ground. Managers fought their way back to high water marks and worked hard to reassure an investor base that was still rocking from the losses, and now many are starting to feel as though they are back on solid footing. Even though base salaries remain flat, year-end bonuses are expected to rise 5% over 2009 (according to HFR). "In 2010, managers had a 'savers mentality'. People have been cost conscious and are hesitant to give away too much in compensation as they recovered from 2008 and 2009," says Jodi Wechsler, co-founder of executive search firm iFind Group.
iFind Group, which specializes in placing accountants and financial professionals at hedge funds says that for financial and compliance professionals, 2011 will be defined by the continuing demands from regulation and taxation legislation, and provide many opportunities for candidates with accounting, compliance, and valuation backgrounds.
Wechsler said that there was a steady increase in hiring of compliance and financial professionals through 2010 as hedge funds that looked to third party administrators for the first time required accounting professionals to deal with the increased flow of information. Whereas many thought third party administrators would lighten the load on in-house staff, in the end, the information generated for ...................... To view our full article Click here
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