If you’re a trader who wants to work for a hedge fund, Millennium has something going for it. The hedge fund is divided globally into independently run teams, each of which is rewarded proportionate to its own results. Whereas other large funds pay on the basis of ‘netting’ (gains minus losses) across strategies, Millennium’s pay structure is more granular – if your team’s strategy does well, you’ll be rewarded, even if all other teams at the fund make a loss.
What does this mean for salaries and bonuses at an individual level? Millennium doesn’t divulge pay globally, but the fund’s two UK-based entities, Millennium Capital Management Ltd. (the UK holding company, which includes all administrative and investment staff) and Millennium Capital Partners LLP (the partnership comprised predominantly of the investment staff) publish annual accounts, with pay figures included.