What do you wish you knew before joining MM HF? What are the biggest surprises that came along the way? Is it true that MM HF analysts make 300-450k on average / median (even at citadel and point72?
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Not true. Median comp is sub $300k for first 2-3 years.
If you’re still around after then, you are no longer a median employee and this is where comp scales
can't be right. basic associate offers start at 300k TC. you gotta remember these are smart ppl who could do banking, PE etc. no one would join otherwise. i'm talking big 4
Investment & Trading Analysts at Citadel start between $200-250k
Associate offers definitely do not start at 300k USD lol
300-450k sounds right to me, actually (several yrs experience in top tier LS H/F) - depends on how good a year you have and how generous your PM is but I had multiple peers making over 500k in good years (even in year 2). I even knew a couple hitting 7 figures who were still considered an "analyst" (ie, no direct trading responsibility), though that is obviously quite rare and those people were older.
To answer OP's question, what do I wish I knew? I wish I knew how all-consuming the job is. The stress never ends, market holidays are few and far between and you can't stop thinking about your stocks. Not a recommended career path unless you really love public markets. Also, the exit opps are limited compared to IB/PE. Most people move between funds but it's harder to go corporate or do a full career switch.
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