pimco executive salaries pimco executive salaries

How much do PIMCO employees make? Does anyone have insight into product strategy at PIMCO? Convex Energy is a forward-thinking player in the European commodities markets, trading power, gas and CO2 emissions throughout the continent. Pimco hasnt lost any portfolio managers since Mr. Former deputy chief investment officer Daniel Ivascyn now serving as Grosss replacement as Pimcos chief investment officer took home a $70 million bonus. In 1968, the family moved back to New York when his father took a position at the United Nations. In November 2013, he delivered the luncheon speech at the IMF's Annual Research Conference that also featured Ben Bernanke, Olivier Blanchard, Stanley Fischer, Ken Rogoff, and Larry Summers. If you value other things outside of work, like spending time with family, hobbies, anything outside of working and satisfying basic human needs (eat, sleep, bathe, work, repeat), this isn't the place for you. [54] In 2010, he delivered the Per Jacobsson Foundation Lecture[55] in Washington, D.C. The estimated total pay for a Executive Vice President at PIMCO is $478,995 per year. [4] Named for four years in a row as one of Foreign Policy's "Top 100 Global Thinkers," he has written two New York Times Best Sellers, including, The Only Game in Town: Central Banks, Instability, and Avoiding the Next Collapse published in January 2016 by Random House. Overall good. Tony Crescenzi is a market strategist and portfolio manager at PIMCO, and is also a member of the firm's investment committee. [12] He added: He would go there in a heartbeat! Site by, The new, must-have technology thats tackling lendings greatest challenges. [12], El-Erian has served on the boards of trustees of several educational institutions, including Pegasus, St. Margaret School, Cambridge in America and KAUST. PIMCO is a global investment manager with a presence on-the-ground in Europe since 1998, and a longer history of managing assets for European clients. He helped deliver investment performance for clients and grow PIMCO's assets under management from under $1 trillion to $2 trillion. Barry Ritholtz, Guess How Much Money Bill Gross Made Last Year? Since Mr. The work of the institute will look to appropriately combine economics and finance with neuroscience, psychology, politics and behavioral finance to better understand how people actually make decisions rather than how narrow theory assumes they will. Based on 22 salaries posted anonymously by PIMCO Account Analyst employees in Radcliffe, England. The realignment of power among bond managers is only just beginning. Almost 16 percent of Pimcos revenue is a material amount of money that would normally require disclosure in the U.S. Base salary is the fixed component of compensation that is determined . [12][10] The daughter was accepted to Georgetown with assistance from the tennis coach, who is now also being criminally charged, and she never played tennis at the university. This includes base salary as well as any potential stock compensation and bonuses. [58] He has also spoken before the Economic Club of Canada, Soka University, ProBono Economics, Boston Security Analysts, Rabobank, Citadel, ETF, National Rural Utilities Cooperative, Cisco, BTG Pactual, Euromoney, NMS, Mortgage Bankers Association, CME, Rabobank, the Global Financial Forum and many others. [citation needed], He also served as an executive committee member and on the Board of Directors of the Securities Industry and Financial Markets Association (SIFMA). The firm's Pimco Income Fund, now its largest bond fund after overtaking the firm's marquee Total Return fund, holds $75.4 billion in assets, up nearly $10 billion over the past six months alone.. Pimcos profits are down by 7.9 percent in the third quarter of this year, and the firm saw saw almost $50 billion in outflows last month. I originally published this at Bloomberg, November 14, 2014. This base compensation is the equivalent of $40 per hour assuming a 40 hour work week (2,000 hours per year). The bonus is expected to cost an average of 33 million euros before taxes for each of the next five quarters and 10 million euros each for the remaining six quarters, the insurer said. [citation needed]. Youve missed the point, Anxiety over tax refunds on the rise, Bankrate.com study shows, Gensler steps up warnings to money managers. Executive Vice President salaries at PIMCO can range from $326,589 - $357,526. It has had a specialty in fixed income since it was cofounded in 1971 by Bill. Lead Analyst Logan Mohtashami explains. After his studies at Oxbridge, El-Erian settled in the US in 1983, taking a position at the International Monetary Fund in Washington, D.C., where he rose to become deputy director. He is President of Queens' College, Cambridge, and chief economic adviser at Allianz, the corporate parent of PIMCO where he was CEO and co-chief investment officer (200714). He was chair of President Obama's Global Development . When Allianz bought into Pimco, it picked up about $250 billion in assets under management. Beyond the sheer size of Pimcos bonuses, there are other aspects of its compensation practices that should give pause to everyone involved in institutional asset management. Pacific Investment Management Co. paid its former Chief Investment Officer Bill Gross a bonus of about $290 million in 2013, a year in which his Total Return Fund trailed a majority of peers, according to documents provided to Bloomberg View by someone with knowledge of Pimcos bonus policies. PIMCO follows a total compensation approach when rewarding employees which includes a base salary and a discretionary bonus. Jefferies' CEO Rich Handler has released his new leadership letter, written in conjunction with Jefferies President Brian Friedman as a follow-up to his earlier offering of boomer wisdom from deep history, when rates were more than 1%.. [43] He is a member of the Council of Foreign Relations. A publicly traded German insurer, Allianz has released some details about Pimcos operations in its quarterly earnings reports. Bill Gross and Mohamed El-Erian, PIMCO's now-ex co-CIOs and co-CEOs, reportedly each received over half a billion dollars in bonus compensation ($290 million to Gross and $230 million to El-Erian)." The award recognizes outstanding leadership in international economic and financial policy, melding creativity and vision with expertise to promote global prosperity. Our portfolio management team is headed by our chief investment officers (CIOs), led by Daniel J. Ivascyn. Intense love does not measure, it just gives. [1][2] He received an undergraduate degree from Dartmouth College (BA in Economics, 1979), and an MBA from Harvard Business School (1984). New broad-based salary data compiled by The Creative Group, a unit of Robert Half International, show that salaries for the top two marketing positions remained flat from 2018 to 2019. PIMCO is a global leader in active fixed income with deep expertise across public and private markets. In July 2014, the Egyptian Cancer Network gave him the Lifetime Achievement Award for his support of cancer treatment and cures for children in Egypt. Read what they think about their salaries on our Compensation FAQ page for , Get started with your Free Employer Profile, Vice President salaries - 62 salaries reported, Account Analyst salaries - 59 salaries reported, Associate salaries - 58 salaries reported, Senior Associate salaries - 56 salaries reported, Portfolio Associate salaries - 50 salaries reported, Account Associate salaries - 43 salaries reported, Administrative Assistant salaries - 42 salaries reported, Portfolio Manager salaries - 38 salaries reported, Account Manager salaries - 37 salaries reported, Compliance Analyst salaries - 27 salaries reported, Software Engineer salaries - 19 salaries reported, Financial Engineer salaries - 19 salaries reported, Technology Analyst salaries - 17 salaries reported, Developer Senior salaries - 16 salaries reported, Senior Software Engineer salaries - 16 salaries reported, Portfolio Analyst salaries - 16 salaries reported, Senior Developer salaries - 15 salaries reported, Senior Administrative Assistant salaries - 15 salaries reported. In a recent Allianz presentation following Gross departure from Pimco, the firms new chief executive, Doug Hodge, stated, We dont comment on matters of compensation.. Given how high inflation is right now, why arent mortgage rates even higher? The pay packages included 29.9m earned by the fund manager's highest paid director, which dwarfs the $23m (14m) that Jamie Dimon, chief executive of JP Morgan, received in 2011. GROSS, EL-ERIAN The estimated salary at PIMCO ranges from approximately $61,000 per year for Campus Recruiter to $229,472 per year for Senior Vice President. Since 2007, he has served as chair of the Microsoft Investment Advisory Committee. He is a member of the Financial Times "A-List"[20] of writers, has a monthly column in Foreign Policy and is a contributing editor at the FT. The bank cited its asset and wealth management business as the area offering the most significant growth opportunity. Portfolio Manager, Opportunistic and Alternative Strategies. Executive Compensation Guide : Reviews fundamental characteristics of some common executive compensation plans including restricted stock, stock options . Wendy W. Cupps, the global head of product management, garnered $50 million, making her one of the highest-paid woman in finance. Here's what people are saying about Pimco. In the 50+ years since, we have worked relentlessly to help millions of investors pursue their objectives - regardless of shifting market conditions. The Leadership Team. With our innovative approach combining trading, technology, and meteorology expertise, we constantly push boundaries . 2023 InvestmentNews LLC. Finance, Business Insider as well as Fortune/CNN[3] and Foreign Policy. How Greed and Easy Money Corrupted Wall Street and Shook the World Economy Part of the reason for Grosss longevity after the Allianz takeover and another element of the firms enormous wealth is what we might call the Pimco Premium. Despite being in a competitive field including giant companies such as Vanguard and Blackrock, Pimco manages to charge more than the industry standard for access to its funds and its separately managed accounts. Have you ever wondered about the number of sacrifices a winning athlete has to make? We can estimate earnings by looking at the largest Pimco funds. [8] He was also on PIMCO's executive committee, and on the global executive committee for Allianz Asset Management, the governing body of asset management for the Allianz Group. However, despite stellar returns evading Pimco last year, it possesses highly rated funds and investors continue to deposit money. [59] He also is a contributor to LinkedIn's Influencer series and was ranked third on their top 10 influencers of the year. Its London-based staff grew from 168 in 2010 to 231 last year. As CEO of PIMCO, El-Erian was responsible for setting the strategic direction of the firm and leading its operations globally. The estimated additional pay is $260,767 per year. Rocket has a plan to drastically cut costs. Investment decision-making at PIMCO, however, is very much a team effort, one that draws upon the skills and insights of our portfolio managers and analysts around the globe. Thus Pimco based in Newport beach, California, and 6,000 miles removed from its majority owners remained fully autonomous. It has been four decades since it was spun out of Pacific Life Insurance Co., a move that was made in part to allow Gross a freer hand to manage the insurers fixed income portfolio. Asia Pacific; EMEA; Latin America; UK Solicitors; UK Bar; United States Avg. Mr. (More: The Barry Ritholtz post that broke the story) Mr. Black, whose Apollo Global Management oversaw $161 billion at the end of last year, got about $369 million in distributions from his stock ownership of the company. The estimated hourly pay at PIMCO ranges from approximately $17.97 per hour for Office Assistant to $72.36 per hour for Cloud Engineer.. Browse 100 estimated salaries at PIMCO in the United States Aurora extends the Better.com merger deadline once again, Real estate agents wonder if inventory levels will ever return to normal, Optimizing client engagement and communication in 2023, Shared Equity: A required intervention for home affordability. Bonus range: $5,000 - $106,000. This element of partnership has always been in place and has been a basis of success at Pimco. `if you are a master in politics and smart person, you can thrive here EQ is way more important than IQ here. A subsequent restructuring in 2011 saw Gross and his team gain even greater control over the firm. Next month, free of Gross and El-Erian, these three will have an extra half a billion or so to keep to themselves or distribute to the other managing directors. Apart from Balls, Joseph McDevitt, William Benz, Bradley Paulson, Craig Dawson, Douglas Hodge, and Lew Jacobs all served on Pimco's European board. Executive VP, Strategist, Portfolio Manager Jun 2009 - Present13. Pimco trustee assails exec's salary. Pimcos enormous, self-paid bonuses come right off of the top of the returns those outside investors might otherwise receive. HEDGE FUNDS. [30] In 2017, he again was listed on Worth's "power 100." Half of PIMCO salaries are above $106,688. . (The film was produced in part by StarWing Sports Management, which represents Sinner. Bloomberg, November 14, 2014. He is the former CEO of Pacific Investment Management Company (PIMCO), the world's largest bond manager. This is a great place with lots of projects to work on. [41] In November 2015, The Middle East Institute in Washington DC honored him with their Visionary Award. [39] In September 2012, he was given the Creative Leadership Award by the Louise Blouin Foundation. Sure, you will gain great experience to the Fixed income industry, however although you work hard and may take on additional projects outside your typical responsibilities you will not be rewarded for doing so. [63], On July 1, 2019, El-Erian was appointed Senior Global Fellow at The Lauder Institute and Part-Time Professor of Practice at The Wharton School. [3][4], Hodge worked first as a bond trader at Salomon Brothers from 1984 to 1989. His philanthropic efforts over the years have emphasized education and health, including major gifts to the Children's Cancer Hospital in Egypt as well as the University of Cambridge and Queens' College. In 2012 he was chosen to present the Homer Jones Memorial Lecture[56][57] at the Federal Reserve Bank of St.Louis. That gave Pimco so much freedom in relation to its corporate parent that, as one analyst described it to Bloomberg News, it appeared as if it was the tail wagging the dog.. Wendy W. Cupps, the global head of product management, garnered $50 million, making her one of the highest-paid woman in finance. Terms and Conditions. El-Erian remains a member of the parent company's (Allianz) international executive committee, chairs its International Advisory Committee, and is an advisor to the management board. And that's all I'm going to say.[12][13] he paid a total of $850,000 to Singer. Douglas Hodge, 57, who was chief operating officer until he took over as CEO in January, received a bonus of about $45 million, and the firms president, Jay Jacobs, was given about $22 million. For one, Pimco has been part of a publicly traded company Allianz for the past 15 years. Amid the redemptions, Mr. Pimco has a very sweet deal going: its managing directors get to keep 30% of all the firm's profits. Only 4 months of experience and offer is 98k w/ 10-20% bonus plus 15k relo/ sign on. HW Media connects and informs decision makers across the housing economy. To search for jobs in other locations, fill in the title and locations to begin your search. [12][13], Also according to the affidavit, in August 2018 Hodge called Singer to ask about getting his youngest son into Loyola Marymount University. 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Average salary for BlackRock Senior Executive Assistant in Cohoes: US$1,44,186. As of December 31, Pimco managed about $2.2 trillion in assets, which placed it among the largest money managers. His Pimco Total Return more than doubled in size from 2008 to its peak of $293 billion in April 2013, when it was the worlds biggest mutual fund. ", "Douglas M. Hodge; Chief Executive, PIMCO,", "Former Pimco CEO Doug Hodge to Retire After 28 Years at Firm", "Pimco paid billionaire Gross $290 million bonus in 2013,", "Douglas Hodge: 5 Fast Facts You Need to Know", "Former PIMCO CEO Faces Judge For College Admission Scam", "Calif. parent in college bribery scheme appears in Boston court", "Affidavit in Support of Criminal Complaint", "Ex-Pimco Chief Is Ready for Prison -- But Wants New Hearing", "Laguna CEO Charged in Admissions Scandal", "Ex-CEO of investment giant Pimco given longest sentence to date in college admissions scandal", https://en.wikipedia.org/w/index.php?title=Douglas_Hodge_(businessman)&oldid=1082841083, This page was last edited on 15 April 2022, at 12:01. Pacific Investment Management Company (pimco) salaries are collected from government agencies and companies. Glassdoor has salaries, wages, tips, bonuses, and hourly pay based upon employee reports and estimates. [2][4][1], He joined Pacific Investment Management Company (PIMCO) in 1989. The estimated base pay is $218,228 per year. Hodge assured Singer that I'm not going off script here That foundation has its stated mission is to help underserved kids basically get into you know, through get through college. Hi - looking for insights into PIMCO Account Manager (post MBA) total compensation breakdown and comp trajectory. If you suffer from mental illness (depression, anxiety, etc. Learn more about reprints and licensing for this article. Glassdoor has salaries, wages, tips, bonuses, and hourly pay based upon employee reports and estimates. Bilingual Universal Banker, Mandarin, Cantonese and English. Subscribe for original insights, commentary and analysis of the issues facing the financial advice community, from the InvestmentNews team. The Team works directly with Product Management, Account Management and Portfolio Management groups of PIMCO and reports to the Executive Office. He has also spoken at CFA, FT, and Economist conferences. In the world ofsports, you would have to take the total salaries, winnings and endorsement deals of LeBron James, Lionel Messi, Kobe Bryant, Tiger Woods and Roger Federer together to be on par with Gross. PIMCO follows a total compensation approach when rewarding employees which includes a base salary and a discretionary bonus. In the U.S., it is hard to imagine $1.5 billion in spending on anything not being disclosed. From 197173, they lived in France, where El-Erian's father was the Egyptian Ambassador to France. Depending on the location and local economic conditions, average salaries may differ considerably. El-Erian has served on several boards and committees, including the U.S. Treasury Borrowing Advisory Committee, the International Center for Research on Women, the IMF's Committee of Eminent Persons, and the Peterson Institute for International Economics. Click to share on Twitter (Opens in new window), Click to share on Facebook (Opens in new window), Click to share on LinkedIn (Opens in new window), Click to email a link to a friend (Opens in new window), Click to share on SMS (Opens in new window), 2006-2023 HW Media, LLC. This estimate is based upon 8 PIMCO Vice President salary report (s) provided by employees or estimated based upon statistical methods. Pacific Investment Management Company (pimco) average salary is $121,859, median salary is $110,000 with a salary range from $61,875 to $285,000. In this case, $1.7 Billion backed by 19 legacy | 13 comments on LinkedIn Francis Saele on LinkedIn: Pimco Is Saddled With a $1.7 Billion Default in Office-Market Meltdown | 13 comments The 10th Annual IA 25 Reveals Honorees for 2012", "Mohamed El-Erian: The 2013 IA 25 Extended Profile", "Worth Power 100 The 100 Most Powerful People in Finance", "Worth Announces 3rd Annual Worth Power 100: The 100 Most Powerful People in Finance", "The Power 100 | The 100 Most Powerful People in Finance", "Emininent Egyptian American Economist, Mohamed A. El-Erian Donates 1 million dollars to Egyptian Cancer Network 57357 and AFNCI", "Top 100 Most Influential Economists 2018 (List of Famous Economists)", "Investcorp Adds Mohamed A. El-Erian To International Advisory Board", "PIMCO - Secular Outlook May 2009 El-Erian", "PIMCO's El-Erian Explains The "New Normal"And It Blows", "Spain is not Greece and need not be Ireland", "Resetting Egypt's economy | The Great Debate", "Egypt's Improbable Path Traces Four Points: Mohamed A. El-Erian", "Prepare for a shock from the Middle East", "Davos Moguls Adjust to Fast, Slow, Reverse: Mohamed A. El-Erian", "The Per Jacobsson Lecture: Navigating the New Normal in Industrial Countries", "Viewpoints - Evolution, Impact and Limitations of Unusual Central Bank Policy Activism", "Bernanke, El-Erian, Powell Headline 2014 GFLC", "Egypt Economic Development Conference Program", "Fortune's must-watch Global Forum conference starts Monday, Nov. 2", "Shoulders of Giants CFA Sociaty Chicago Annual Dinner 2015 Interview with Mohamed El-Erian", "LinkedIn Top Voices 2016: The 10 must-know Influencers", "2016 New York Jets preview Mohamed El-Erian", "Altius Announces Filing of Preliminary Prospectus for Altius Renewable Royalties Corp", "Faculty of Economics Receive USD 25m gift", "Inside the Showdown Atop Pimco, the World's Biggest Bond Firm" by Gregory Zuckerman and Kirsten Grind, "Making the grade: Face to Face with Harvard's Mohamed El-Erian,", https://en.wikipedia.org/w/index.php?title=Mohamed_A._El-Erian&oldid=1135292388, People educated at St John's School, Leatherhead, Articles with unsourced statements from August 2018, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 23 January 2023, at 19:52. He is also a regular op-ed contributor to Project Syndicate. PIMCO employees earn $73,500 annually on average, or $35 per hour, which is 11% higher than the national salary average of $66,000 per year. The plan applies to all employees that are not participating in the Pimco profit pool, including senior portfolio managers below the level of managing director, Allianz chief financial officer Dieter Wemmer said on a conference call Nov. 7. Pacific Investment Management Company PIMCO pays an average salary of $80,000 per year. The figures provide a rare glimpse of how some executives were paid at Pimco, even as performance at the firms main fund stumbled and clients started to pull out. A longtime trustee for Newport Beach's $1.9-trillion Pimco funds lashed out at the reported $200-million annual salary of Bill Gross, the billionaire bond . How Pimco became such an earnings machine is a quirk. They may also reveal information or provide tips on interviewing skill requirements, and other factors that could help when applying for a position at that company. A Pimco spokesman denied Salmons claim, responding that The numbers cited in your blog post today are wildly inaccurate.. Bloomberg Law speaks with prominent attorneys and legal scholars, analyzing major legal issues and cases in the news. Mohamed El-Erian, Pimco's former chief executive officer and one-time heir apparent to Gross, received $230 million. [16] He was imprisoned in the Federal Correctional Institution, Otisville and was released on 03/19/2021. Andrew, brother of shadow chancellor, and five others share pay as revealed in documents filed by bond investment firm, Original reporting and incisive analysis, direct from the Guardian every morning, Andrew Balls, brother of shadow chancellor Ed. On December 21, 2012, President Obama announced the appointment of El-Erian as the chair of the president's Global Development Council, leading the council in its role of informing and providing advice to the president and other senior U.S. officials on global development policies and practices. Pimcos success in the federal governments program to jumpstart consumer lending and a variety of mortgage-backed security programs added more luster to its reputation. Dimon has been billed as Wall Street's highest paid banker. Based on 21 salaries posted anonymously by PIMCO Senior Account Executive employees in Hoddesdon, England. [6] He concluding by saying that for the industry to restore trust, "it starts at the top, with us, the leaders of the financial industry. Making money for the company is their number one priority and you are simply a variable to run sensitivity analysis on. Average pay per director remained at around 8m. To put that in perspective, Jamie Dimon, the chief executive of JPMorgan Chase and one of the most powerful figures in American finance, got a quarter of that. According to our data, the highest paying job at PIMCO is a Senior Software Engineering Consultant at $313,000 annually while the lowest paying job at PIMCO is a Communications Associate at $35,000 annually. If ever there was a moment when investors could demand more competitive fees from their bond managers, it is now. (At least it did, until recent bad bets on rising interest rates by Gross torpedoed the 1-, 3- and 5-year record of the flagship Total Return Fund.). Compensation for money managers is typically tied to the amounts they oversee and the returns they produce. Shareholders of the Total Return Fund netted about $10 billion from its mortgage plays. In March 2015 he was a featured speaker at the Egypt Economic Development Conference in Sharm El-Sheikh, Egypt. Read what they think about their salaries on our Compensation FAQ page for PIMCO. [18] Despite this, El-Erian praised Gross as "a brilliant investor anchored by three things that you hardly ever find in an investor: Strong fundamentals including economics, a really good feel for the market and strong bond math" when Gross departed Pimco.[19]. None of those things resonated with me, so it really wasn't a good fit for me personally. Global offices throughout the Americas, Europe and Asia, Portfolio Managers with an average of 17 years of experience, Investment professionals who have been at PIMCO for 10 years or more. For more than three decades, Pimcos managing directors have maintained a substantial interest in the firm, currently 30 percent of profits, and this provides an important means to attract and retain the best investment talent to serve our clients. That data, along with mutual fund disclosures and filings, provide hints about the firms revenue. [12][13], Singer wrote to Hodge in an e-mail: Obviously we have stretched the truth but this is what is done for all kids. [29] He appears regularly on CNN, CNBC, and Bloomberg as well as other media outlets. Because they are a lean group of elites, they tend to try to harvest as much information they can out of you. As of 2020, he is a member of the Harvard Global Advisory Council. By Looking at Glassdoor, bonuses seem higher than quoted by the hiring manager. Company culture is a leftover from 1970s, with self interested managers offering very little help to junior employees. Operating profit at Pimco declined 7.9% to 594 million euros in the third quarter from a year ago, Allianz said in a presentation of its earnings. The Special Performance Award comes on top of bonus and salary policies already in place, and consists of a cash award to be granted in the fourth quarter and paid over the next 12 to 30 months, Allianz said in its quarterly report. Menu Home; Rankings. Bloomberg Views fee analysis suggests Allianz takes about 70 percent of the total revenue Pimco generates annually (plus or minus a few percentage points). Any one familiar with comp for a Portfolio Associate roll at PIMCO on their mortgage backed securities team? Learn More Get subscriber-only insights and news delivered by Barry every two weeks. [22] His first book When Markets Collide was a New York Times and Wall Street Journal bestseller. [31] In 2011, 2012, and 2013, he was included in Investment Advisor's annual IA25 list honoring the most influential people in and around the advisor community. Subsequently, he was appointed CEO and president of Harvard Management Company, the entity that manages Harvard's endowment and related accounts. After twenty months at Harvard, El-Erian returned to PIMCO in December 2007 as CEO and co-CIO. Share Your Design Ideas, New JerseysMurphy Defends $10 Billion Rainy Day Fund as States Economy Slows, This Week in Crypto: Ukraine War, Marathon Digital, FTX. It said variable personnel expenses, which are tied to profit, fell 8%. Active management fees going down?