Multi-strategy hedge fund Brevan Howard has significantly increased compensation for its graduate recruits, lifting starting pay from £90,000 to £150,000 as competition for junior talent intensifies across the sector, according to a report by eFinancial careers.
The pay increase, understood to represent a rise of around 67%, comes as hedge funds place greater emphasis on building internal talent pipelines rather than relying on lateral hires. It is unclear whether the new £150,000 starting package applies across all graduate roles at the firm.
Brevan Howard runs graduate programmes in London, New York and Abu Dhabi, spanning risk, trading, technology and AI, quantitative research and venture capital. The firm declined to comment.
The move reflects a broader shift among large hedge fund platforms toward cultivating portfolio managers and investment professionals in-house. At Citadel, for example, 66% of portfolio managers within its fixed income and macro businesses are understood to have been developed internally. Similarly, around two-thirds of equity portfolio managers at Point72 are home grown.
Meanwhile, Millennium Management is preparing to launch a new investing internship programme for college graduates starting in 2027, further underlining the industry’s focus on early-career recruitment.
Brevan Howard’s uplift in graduate pay appears substantial, particularly at a time when the firm has faced performance challenges, but market sources suggest the revised compensation is broadly in line with prevailing rates for top-tier hedge fund entry programmes.
