Chelsea Clinton is changing jobs. Apparently tired of the consultant’s life, the former first daughter is leaving McKinsey for a new gig at, natch, a hedge fund, Avenue Capital Group, according to Ben Smith in the Daily News. At McKinsey, she reportedly started with a $120,000 annual salary. How much does she stand to make as a hedgie? We checked in with one — an old high-school friend, who clearly makes much more than we do — to find out.
As a first-year analyst at a hedge fund with some but not a lot of relevant experience, she’ll probably pull in $100k base and maybe $150k bonus (though the bonus will depend wildly on the year that Avenue has).
He added: “This is how you know the bubble is over.”