IMO a lot of the information in this article is suspect. Perhaps the terminology is different in the states, but decision makers tend not to be known as "traders" in the UK: they're portfolio managers. Traders are middle-office guys who handle execution. Secondly, there are very few shops that can charge two and twenty these days. Even in the good days, two and twenty was the 'sticker price', a point at which to begin fee negotiations. Any client with a decent-size ticket would pay less.

As a junior / mid-level front office hedgie I made £120k last year. I wouldn't be surprised if my boss made double that. Not a stunning amount, but easily enough to be comfortable and save for the future. Unless you're an equity partner at a hedge fund, that's what you can expect to earn in the uk.

The appeal of asset management is mostly about the lifestyle rather than the comp: interesting, varied work, with fifty hour weeks and no weekend work. On a per hour basis, you might do better than someone on the sell side, but those guys work a lot of hours.