Chapter 1158 Sun Zhenping
"I heard that Mr. Joe from the Indian Ocean Fund received a full US$100 million in bonuses this time!"
"Wow, my God, is that exaggerated?"
"There may be more. You must know that the Indian Ocean No. 3 fund managed by Jiang Dashen has been the hedge fund with the second highest return rate in the world in recent years.
Second only to the company’s highest god, the ‘Big Boss’. ”……
In the morning, in the office lobby of Xiangjiang Hanhua Financial Center, several employees were gathering together and talking quietly, without noticing Sun Zhenping getting closer and closer behind him.
Several people made a bunch of envious remarks, and a young Chinese man in his twenties suddenly said:
“Do you think this bonus package is fair?
Our entire team, including researchers, traders, risk control and other support positions, together we have a total bonus pool of just over 40 million US dollars, which is less than half of Lao Qiao’s bonus. ”
An old employee glanced at the newcomer who spoke and sneered:
"Fair? To be fair, you should first be promoted from analyst to manager.
Then if you are promoted to a senior manager, you can get a bonus of hundreds of thousands of dollars like me.
If you are promising enough and rise to the position of VP, you can manage a small team of four or five people, and then you can make money. I heard that our boss got millions of dollars this time. ”
The new analyst who asked the question was named Cao Yang. When he heard the number of millions, he looked envious and said:
"So much? And it's just performance bonus? It doesn't include half-year bonus and year-end bonus."
As an old employee, the senior manager continued to show off and said with a pretentious look:
"Is this a lot? Which of the real big names on Wall Street doesn't earn tens of millions or even hundreds of millions of dollars a year?"
Cao Yang smiled and didn't answer. It was too far away and he didn't dare to think about it. He felt that VP Vice President was his next goal.
An old employee next to him couldn't stand it anymore and laughed and cursed:
"You guys are talking nonsense again. Shouldn't the real big shots be shareholders like 'Jiang Dashen' and 'Sun Yanwang'?
In fact, Lao Qiao is just a wage earner like us, but he is a wage earner. ”
The senior manager grinned, quickly changed the subject, and asked Cao Yang:
"Man, what college did you graduate from? What degree?"
"I graduated from the Department of Mathematics of Huaqing University with an undergraduate degree. I went to study in the United States two years ago and received a master's degree in financial engineering from the University of California, Berkeley. I came to Hanhua during the school recruitment."
"Then your resume is still a bit thin. Among the newcomers who came in at the same time as you, you are the worst.
Several other Ph.D.s were assigned the rank of Associate Manager, and one seemed to have switched jobs from Goldman Sachs and was also a Manager. ”
Cao Yang could only laugh at this. Who said this was Hanhua?
After seven or eight years of hard work, Hanhua is now the world's top private equity institution.
The two major funds, Pacific and Qinglong, have always occupied the first place in the world's major fund rankings in the two categories of private equity and hedge funds.
And it has dominated the list for four consecutive years.
It can be said to be famous and famous all over the world!
One of his classmates failed to pass the Goldman Sachs interview two years ago, so he had to go back to study for a master's degree, and finally got into Goldman Sachs this year.
Hearing that he had interviewed at Hanhua and passed the internship, his classmate's eyes almost popped out of his head, and he immediately began to lament the unfairness of his fate.
This is because investment banks, except for their self-operated departments, are all sellers and have large teams, so there is a huge demand for recruitment and it is relatively easy to get hired.
The hedge fund department of Hanhua Xiangjiang Office belongs to the buyer, with dozens of people managing tens of billions of dollars in funds. The recruitment demand is small and it is difficult to enter. It basically does not recruit fresh graduates, only those with work experience.
Extending to aspects such as salary, professional resume and growth potential, hedge funds, the crown jewel of the financial industry, are also stronger than investment banks.
Is there a big boss in an investment bank with an income of hundreds of millions of dollars?
Goldman Sachs CEO Blankfein's income last year was only US$44.07 million, and the CEOs of several other major investment banks were almost at the same level.
The only way to get rich is to work in a hedge fund!
A few people laughed and laughed for a while, and were about to start today's work. When they turned around, they saw Sun Zhenping looking at them with a smile, and everyone's smiles instantly froze.
Sun Zhenping raised his watch and glanced at the time, and said with a smile:
"You're lucky. It's official working time in two minutes. If I see you continuing to do nothing like this during working time next time, everyone, get out of here."
Several employees who were chatting together just now immediately slid the chairs under their buttocks and dispersed in panic. Every one of them was frightened.
Cao Yang, in particular, is very afraid of losing his hard-won job. Working in a top hedge fund is also the dream of countless students from prestigious schools.
Even if you study in a prestigious school, not everyone can enter the financial industry.
You have to prepare and compete from your freshman and sophomore years, squeezing your brains out every year for internship opportunities released by top financial institutions.
Every summer, Morgan Stanley receives approximately 90,000 internship applications for analyst and assistant positions provided by its summer program, but the acceptance rate is less than 2%;
Goldman Sachs' acceptance rate is also pitifully low, with an acceptance rate of 2.06%.
In comparison, Harvard University’s acceptance rate of 5.9% is considered high.
And this is just an internship opportunity, and it’s only for investment banking.
As a fresh graduate, it is self-evident how difficult and lucky it is for him to join a private equity giant like Hanhua, or the most dazzling hedge fund department.
To the outside world, they are the pride of heaven, but in the global financial world, they can only be regarded as small soldiers.
They are not even considered soldiers at the moment. They cannot go into battle and can only do odd jobs, collect and organize information, and pour coffee.
Sun Zhenping scolded him and left.
Cao Yang glanced in the direction where the boss was leaving with lingering fear.
Looking at the colleagues around me, one by one, they are all in working mode, looking at the six-screen computer in front of them intently, and starting to obtain today's financial information.
I have to work hard too, Cao Yang clenched his fists!
After Sun Zhenping entered the office to handle the work at hand, he took the elevator to the top floor of the building.
"Here you come? Come and play two shots."
Xu Liang was playing golf on the golf course in the office. When he saw Sun Zhenping coming, he immediately greeted him.
Sun Zhenping didn't show any politeness. He picked up the club next to him and played with Xu Liang for a while.
"It's not satisfying. I can only putt. What do you think if a first-floor office is converted into a golf course?"
Sun Zhenping said with a smile: "The floor height is not high enough, so you can't swing?"
Xu Liang: "That's a pity."
Sun Zhenping stopped chatting with Xu Liang and talked about serious matters.
"Jiang Ping was ready to take action. If he said it was too late, he would miss the opportunity."
Xu Liang nodded and then asked: "What about you?"
Sun Zhenping said with a smile: "Of course I want to take action, but I need you to come forward and negotiate with several investment banks about the margin ratio.
Hanhua is not what it used to be, and it can be considered a credit guarantee in the global financial community. They can no longer cooperate with us based on the previous set of standards. ”
Xu Liang nodded.
"I support reasonable requests, but there is no need for me to come out to talk in person, right?"
"Mr. Xu, that's tens of billions of dollars in funds. I, the president of the Xiangjiang office, am not qualified."
"Don't underestimate yourself. The 'Indian Ocean No. 1 Fund' you have managed in recent years has become famous in the global hedge fund industry."
Xu Liang is not a compliment. The ‘Indian Ocean No. 1 Fund’ is basically on the list of the world’s top 10 hedge funds every year, including Bloomberg Businessweek and Fortune. "You have given me the prize. I am just following the rules. Without you leading the way, the 'Indian Ocean No. 1 Fund' would not have developed so well in these years."
"You're being humble. 'Xiao Gui Cao Sui' sounds very simple, but not many people can do it."
Who can enter Hanhua and have some achievements, who is not a domestic C9, a foreign Ivy League master's or doctorate, an elite who has fought out from thousands of troops?
These people have their own pride.
I simply can't bear the irresponsible remarks of others and play "Xiao rules and Cao Sui".
And copying homework also requires skills.
Stocks, bonds, positions, positions, delivery, every step requires careful consideration.
Under Sun Zhenping's five-year operation, the 'Indian Ocean No. 1 Fund' has maintained a rate of return of nearly double every year. It is stable, efficient and not blind. The trading funds have also expanded from US$1 billion at the beginning to US$10 billion now.
Over the past five years, it has generated nearly $19 billion in revenue for the company.
Net returns exceeded $8 billion.
Ranked seventh among all hedge fund managers in the world.
Check out the 16-9 book bar to see the correct version!
This talent and character can be called a dragon or a phoenix among people.
Xu Liang waved, and Li Jinling immediately handed over a document.
After taking it and taking a look.
"Old Sun, in view of your outstanding achievements over the years and the generous returns you have created for the company, the company's management committee has decided to promote you to 'senior partner'."
Xu Liang handed over the document.
Nowadays, as Hanhua's development continues to reach new heights, the size of its staff is also expanding rapidly, and the company's ranks are constantly being adjusted.
It is divided into nine levels: analyst, manager, senior manager, general manager, vice president, senior vice president, partner, senior partner and executive director.
It can be understood as P1~P9 in major Internet companies, with basic salaries determined according to rank.
If a powerful trader achieves results, his bonus income can exceed that of a small boss vice president;
If the small-boss vice president leads a small team and does a good job, the bonus may exceed that of senior executives above the level of partners.
Partners are equivalent to the bosses of Hanhua's first-level business departments, such as the head of the Magic City office, the head of the Xiangjiang office, etc.
VC, PE, secondary market and other departments only have one senior vice president.
Relatively speaking, Hanhua is relatively stingy in setting ranks and does not issue indiscriminately.
At present, it is only a company that has only been established for more than seven years. It has been issuing ranks indiscriminately since the beginning. It will be difficult to promote in the future. You can't create a few ranks, right?
As far as Xu Liang knows, UBS has actually done this and created a level above MD, GroupMD, while Goldman Sachs has created a PMD, also known as: Partner Managing Director.
There is nothing we can do about it. Goldman Sachs has more than 2,000 MDs, and their ranks are completely ruined.
In Xu Liang’s rank planning for Hanhua, analysts and managers are all grassroots employees;
Senior managers and general managers are all small bosses in a fund and belong to the middle level.
Each is responsible for an investment group/track, such as consumer, medical, technology, etc.;
The Vice President and Senior Vice President are the heads of one or more funds;
A partner is the boss of a department, such as the Xiangjiang office of Hanhua Capital, or the South China Branch of Hanhua Securities, etc.
As for the senior partners above, they can get virtual shares of their subsidiary companies, also known as dry shares.
The company will receive dividends based on the profits generated by its subsidiaries every year, which is more favorable than the current situation of only receiving dividends from “profits created by this fund and this department”.
As for the shares of the head office of Hanhua Group, they will not be handed over to anyone except Xu Liang and Jiang Xiaoyang.
Even if it was separated many years ago, it would have been bought back long ago.
And it was exchanged for the equity of its subsidiary.
Hanhua's strategy is very clear. The subsidiaries can be listed, but the head office cannot be listed.
The last level of Hanhua is ‘Executive Director’.
Once you reach this level, you can join the Hanhua Decision-making Committee and truly enter the inner circle.
Have the right to express opinions on all major decisions of Hanhua.
From the establishment of Hanhua to the present, the number of people who can truly qualify as ‘executive directors’ is less than two palms in total.
Sun Zhenping currently serves as the head of the Xiangjiang office. As a veteran Hanhua employee, his rank is "partner" and his rights are similar to those of Goldman Sachs' "partners".
Goldman Sachs also has a lot of partners, between four and five hundred.
In addition to the high fixed salary, there are stock and option awards and, most importantly, the right to participate in internal investment funds.
Hanhua is similar.
But there are fewer ‘senior partners’.
"Thank you Mr. Xu and the head office for trusting me."
Sun Zhenhua said with some excitement.
After being promoted to 'Senior Partner', he will be able to participate in Hanhua Capital's annual dividends.
It is one of the eleven largest offices in the world under Hanhua Capital.
The annual revenue from venture capital, private equity and hedging exceeds US$13 billion (not counting the three funds of Pacific, Qinglong and Phoenix that Xu Liang is responsible for).
Senior partners can share 0.2% of net profits, and can receive more than 10 million U.S. dollars per year, and sometimes a few million U.S. dollars less.
In addition to money and benefits, what is more important is the improvement of status.
The total number of ‘senior partners’ of Hanhua within the entire group does not exceed 20.
Outside, top financial elites, whether at home or abroad, will be treated politely.
"Work hard, I'll wait for the day when you will be promoted to 'Executive Director'."
"Yes."
After smiling and patting his shoulder, Xu Liang said: "What time is it?"
"There are still fifteen minutes and nine o'clock, we should set off."
Xu Liang nodded and smiled: "In order to get me to come over, Jack Ma has made more than a dozen calls, on average once every three days. I am really annoyed by him, so I should go there early to save him from calling again and nagging me."
When he came to Xiangjiang this time, the main thing was to participate in the Ali IPO.
Sun Zhenping nodded in agreement.
The group simply tidied up and quickly left the office.
(End of chapter)