Bill Gross might not be making as much money at Janus as he did at Pimco, but he may be working to revamp his tarnished reputation than for the dollars, according to Marketwatch. Co-founder of Pimco, Bill Gross shocked Wall Street with the announcement he was leaving the legendary fund for a much smaller one. What is also smaller seems to be his compensation. Gross was taking home an estimated $200 million annually at Pimco.
Janus does not need to disclose the details of its compensation package, but it is likely to be less than what Gross made at Pimco. Gregg Warren, equity analyst at Morningstar, said, “I don’t think he is making anywhere near what he was making at Pimco.” However, Warren thinks it will possibly be evened out, since some of the compensation is likely to be performance-based, “To bring someone of his caliber in, there has to be some agreements in place where there are incentives for him.”
Gross’ net worth is around $2.3 billion, so maybe he isn’t with Janus for the money, but to bolster his reputation, which was compromised when his fund lost money last year.