On my last round for a P72 research role. For reference, current physicist coming from outside of Wall Street. Have already been told by hiring manager to expect 80 - 100 hours / week, but I assume that's the norm. Anyone have any other candid insights on what the culture is like there compared to other tier 1 hedge funds?
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is this for a QR role? seems q high, i thought its generally 10-12 hrs a day x5 so about 50-60 a week.
Yep, QR role. But good to hear this may be an exaggeration. Not sure if it's because I'm coming from academia so they wanted to see if i'd be up for more hours
If you’re joining one of the elite cubist teams then the hours make sense as I’ve heard compensation is substantially higher than street
Interesting question, because at MMHF platforms, the "culture" is more or less whatever your head PM / pod sets as the culture, and there is less of a "firm" culture. Typically you work on one "pod" or team, right, so the head of the pod/PM sets the culture. Its almost equivalent to someone starting a HF on their own, and their investor base is just P72, MLP, etc.
Now there are definitely nuances after this, as the risk limits and people in charge of deciding "hey you deserve more AUM or hey you are about to blow up good bye" are also setting some of the culture here. And perhaps for career progression for non PMs who are gunning for sleeves and eventually their own book.
There is some collaboration at times I believe... but I think it depends. Like I believe citadel commodities team is a bit different than say your run of the mill L/S equity pod at MLP or verition, but I really don't know enough.
If you are really just working on one pod / for one PM, I really wouldn't think too much about P72 culture, as you will mostly live and die by the PM you work for. They set the hours, the tone, and the compensation.
What are the red flags you can tell from a PM during the interview process?
Helpful context! New to this stuff so will keep that in mind
These are high hours for a quant. There must be a ton of upside
Am not a quant nor at pt72 but my 2c from someone been on multiple pods is if hiring manager really did explicitly tell you 80-100 hrs then you should prob take it at face value imho. Basically zero incentive for him/her to exaggerate the hours before you even sign. If that make sense. I am on the fundamental side but there are def pods pulling this hours day in day out even outside of earnings. If you are not comfortable with it you should reconsider
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