The market for compliance and legal personnel is dynamic, with strong demand for skilled personnel. The Regulatory Compliance Association recently presented a program devoted to current compensation and hiring trends for compliance and legal professionals at private funds, traditional asset managers and sell-side firms based on the recent placement experience of executive recruiting firm JW Michaels & Co. (JWM). The program featured Jason M.E. Wachtel
, founder and managing partner of JWM; Justin M. Mandel, JWM managing director and head of compliance; David Sawits, JWM vice president; and Mitch Avnet, founder and managing partner of Compliance Risk Concepts. This article explores the key takeaways from the presentation. For more on compensation of legal and compliance personnel at fund managers, see our series of two-part interviews with David Claypoole: “How Have Industry Developments Affected the Value of Legal and Compliance Staff?
” (Feb. 2, 2017); “Will Industry Deregulation Affect the Value of Legal and Compliance Staff?
” (Feb. 16, 2017); “What Is the Value of Legal and Compliance Staff?
” (Mar. 12, 2015); and “Trends in Legal and Compliance Hiring and Staffing
” (Mar. 19, 2015). For additional surveys on hedge fund personnel compensation, see our coverage of the reports by HedgeFundCompensationReport.com: 2015 Report
and 2013 Report
; and our coverage of the Greenwich Associates/Johnson Associates annual compensation studies: 2014 Compensation Study
; 2013 Compensation Study
; 2012 Compensation Study
; and 2011 Compensation Study