4 ms·
> Id say the industry average for somebody moving to a new firm and trying to replicate what they did at their old firm is about 5%. Because 95% of experienced
by chronic7202h 2y ago
> Id say the industry average for somebody moving to a new firm and trying to replicate what they did at their old firm is about 5%.
Because 95% of experienced candidates in trading were fired or are trying to scam their next employer.
“Oh, yeah, my <insert HFT pipeline or statarb model> can do sharpe <random int 1 to 10> for <random int 10 to 100> million pnl per year. Trust me bro”. Fucking annoying
- flourpower471 2y agoObviously not true. The deals for most of these set ups are team founders/pms are paid mostly by profit share. So the only scam is scamming yourself into a low salary position for a couple years till they fire you. Orders of magnitude more leave their jobs of their choosing than are fired.
- chronic94057 2y ago> The deals for most of these set ups are team founders/pms are paid mostly by profit share. These PMs are not the ones job hopping every year. And 95% of interview candidates are not PMs. > So the only scam is scamming yourself into a low salary position for a couple years till they fire you. 200k-300k USD salary is not low. And 1 year garden leave / non compete? That’s literally 0.5M over 2 years for doing jack shit. This is very appealing for tech SWEs or MBA product managers who are all talk and no walk. But even with profit share / pnl cut, many firms pay you a salary, even before you turn a profit. It eventually gets deducted when you turn a profit. > Orders of magnitude more leave their jobs of their choosing than are fired. Hedge fund, maybe. Prop trading, no.