Total compensation for hedge fund portfolio managers is expected to climb 40 percent, to $1.4 million, in 2018, according to Institutional Investor’s second annual All-American Buy-Side Compensation Survey. The hedgies on average reported a 25 percent jump in base pay — to $346,164 — and more than $1 million in variable compensation. Portfolio managers at hedge funds with more than $5 billion in assets are feeling even more flush, as they are expected to earn $2.8 million in total compensation.