Here's how much people make working for a hedge fund

Hedge funds have a reputation for being shrouded in mystery.

But SumZero, an online community of buy-side professionals, has just made them a little less mysterious by revealing how much some people in the industry get paid.

Their 2017 compensation report for hedge fund professionals analyzes the 2016 compensation information of approximately 4,500 of their more than 13,000 members.

The report breaks down the compensation of those users based on job title, years of experience, firm size and investor performance.

"Title remains an important factor in compensation at hedge funds, even when accounting for experience," the report said. "Thus while years in the industry are important, titles and the corresponding responsibility come with greater monetary rewards."

The median pay for hedge fund executives, including bonuses, was $400,000. That number is flat compared to 2015. Now that may not sound like a lot when you think of all the billionaire hedge fund managers covered in the media, but SumZero's community skews younger, and wealthier members tend not to disclose their information.

In addition, it is important to note that there are thousands of hedge funds, with a large number of small funds and a handful of industry giants. Some of these small funds might be staffed by a single employee.

Unsurprisingly, those working at bigger funds tend to earn more. As the chart shows below, those with five years experience currently working at a fund with more than $250 million in assets have higher levels of compensation.

SumZero members hail from cities around the globe, including financial hubs such as London and Singapore. According to the report, major American cities boast the highest median pay. New York City is king with a median pay of about $230,000. The figure is even higher for those working at funds with more than $250 million in assets.

To read the report in full, click here.