Point72 Penny Pinchers
6 rounds of interview in total.
At the early stages of the interview process, HR mentioned that there is no budget allocated for the role.
Fast forward to 6 rounds of interview (including superday), hiring team and HR are offended by my expected salary and they were reluctant to negotiate or provide a take it or leave it compensation package.
Red flags along the interview process includes hiring team lead not turning up for interviews, HR not turning up for calls with reference checks, zero transparency and a lack of enthusiasm when a verbal offer was given.
To future candidates, be prepared to be low balled and it's unfortunate that a leading HF is operating similar to a small business.
Would be helpful if you provided education, years of experience and your salary/comp ask...
Meanwhile they give the friends of cohen kids 275k out of college for getting 3.0s lmao
been going on for years
100% my own (limited) experience interacting with BD teams at the platforms. Unfortunately the whole thing is a leap of faith and praying that your PM knows what he is doing, is somewhat fair/generous, AND will teach you the ropes (or you can swim really quickly).
The comp they quote is a complete joke (massive haircut on base, no sign on, and 0 guidance on bonus/guarantee) if you aren't straight out of undergrad or a banking analyst at a mid tier place.
what did they quote you. and haircut to your current at the time job or what?
Am in the UK as a PE Asso. Base is around 130-150k GBP with more or less guaranteed bonus of around 100% and some small long term incentive economics on top. I was quoted bases of around 100k-120k with absolutely 0 other guidance on bonus, just claiming that if I do well I will be paid (no shit sherlock). I get where they are coming from, but on my end I needed some security on year 1 economics (also to anchor comp expectations somewhat for future years as I would enter far from a role with a cut of PNL) to dampen the risk of learning a completely new investment process.
Needless to say, I remain a PE cuck to this day.
Had exact same experience over a yr ago
Asked for my FY comp at my existing spot and shared it and then BD asked if I was dropping out of the process
If you’re looking at hedge funds and are concerned about the base salary, then you’re not solving for the correct risk profile. You go to MM HF specifically because you think you are capable of knocking it out of the park for a right tail bonus. MMs all pay shit bases and guess what, that is what the market has been able to bear for quite a number of years. It’s what makes the business model appealing to LPs in the first place that gets them the huge AUMs. Sign of the times…
whats considered a "shit base"
Associate analysts are mostly on 100-125k base while analysts are 150-175k with a select few able to nab 200k. It doesn’t really get higher than that for a long long time
Why are you posting this in the HF forum if your interview and offer were for the Canvas team? Basing this on your previous comments elsewhere. You are mad at a hedge fund for refusing to pay people who are not PnL generators? Why are you surprised by this?
this! canvas team is mainly research
directly from their site it says bsae is $80-100K so you know that when you apply (NY laws)
Tbh - this was my experience many years ago when p72 was first starting their analyst hiring out of college. They didn’t show up for my interview and that left a sour taste. No one followed up. Pure ghosted. 6 years later and I’m doing well at another MM. they ring me up but I’m still a sucker and give them time of day cause they could hand me a big signing / good deal. Guess it shows they know they have the leverage.
honestly a lot of firms are like this. not like candidates dont do this
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