Ex-Morgan Stanley Bankers: "Strangers" How Much Belle Burden's Husband Was Actually Earning
The Wall Street SkinnyShow Notes
Send us Fan Mail No one is talking about the insane thing that's happened to Big Law partner compensation over the past decade — and how it stacks up against Wall Street. In this deep dive we broke down EXACTLY what's going on. What started as an attempt to quantify how much Belle Burden's husband — from the cultural phenomenon Strangers — was actually earning during their marriage, after he left Davis Polk and landed at an equity long/short hedge fund, turned into a full-blown investigation: how Big Law and hedge funds really make money, what the compensation structures look like, and who actually comes out ahead. We were positive we knew the answer. We were wrong. Here's what we're not going to spoil — but here's what's on the table:
One firm reportedly offered $80 million over three years to poach a single partner. That's not a typo. That's hedge fund money… for a lawyer.
The top firms are clearing eight figures per partner — and we name them.
The Financial Times has reported some hedge fund traders are being offered 9 figures comp packages but how does it vary roles by role, firm by firm and year by year,
We get into the lockstep model, the eat-what-you-kill brutality of the buy side, "two and twenty," and the math of who's really ahead at 25, at 35, at 45 — plus the quiet shift that flipped the entire game while almost nobody outside the industry was watching. 📩 The FULL breakdown, complete with financial model if you want to see play with key assumptions lives on our Substack: https://substack.com/@thewallstreetskinny 🎧 Our original breakdown of Strangers: https://youtu.be/3fbWStK44P0?si=N5Qif1UhVxz06i7l 🏛️ For the deal nerds — our Caesars Palace coup series: https://youtu.be/VKROBLck-RA?si=oF8tiwyuwvthXM26
Shop our Self Paced Courses: Investment Banking & Private Equity Fundamentals HEREFixed Income Sales & Trading HERE Subscribe to our Substack: https://substack.com/@thewallstreetskinny
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Everyone in the financial media is telling you the same story: Scott Bessent's surprise Treasury buyback announcement is a thumb on the scale of the bond market, and it's making Kevin Warsh's job at the Fed harder. But what if the headlines have it exactly backwards? What if the Treasury Secretary is actually running interference for the one thing the Fed Chair can't do himself? Fresh off asking Bessent this question face-to-face at the Charlotte Economic Club, Jen breaks down why she thinks there's a stealth rate hike hiding inside what looks like yield suppression, and why the best way to understand it is a three-act magic trick straight out of The Prestige.