When do HF analysts take holidays?
This question is particularly targeted for L/S equity analysts working at a multi-manager. Obviously this question is very dependent on your shop and how your PM runs things. However, I'm really curious as to how many holidays one is given in the HF space and how often do people take holidays, and if so, when?
Guess this is also dependent on what sector you're covering and when the quiet periods are. Would love to hear any personal experiences or insights.
Side note: Are you guys working much on the weekends?
this was my experience at one of the big 4 (l/s eq)
usually analysts try to take some "time off" around August and December when things are quieter, but you'll most probably still be plugged in to some extent. Its very difficult to turn off and you'll be expected to be on top of things even if you're on holiday (some PMs and analysts travel with monitors....)
Weekend work is very pod dependant. I worked in 4 pods in total:
I had very minimal weekend work at 2 pods, except during earnings season (so say 1-5 hours during off peak, 10-15 during earnings)
In the other 2 pods, I was expected to work 75% of a day (usually sunday) and take Saturday off. Hours during off peak would be 10 - 12 and during earnings season would spike to around 20 - 24 hours (saturday included).
The last 2 pods were v intense, but consistently generated 100m+ yearly p&l. Cant say the same about the first two
Thanks, that's very helpful. Did your hours differ much as your career progressed?
the main difference is that as you get more senior (sr analyst/PM) you'll have less weekend work but it wont be 0, esp if someone junior needs you asap to figure out something with them or prepping for earnings etc
Weekdays are very similar for everyone (including PMs) in the 2 very successful pods:
Pod 1 (yes hours in this pod were always this intense):
Mon - Thur: 6.00 - 22.00 (Includes PM)
Friday: 6.00 - 18.30/19.00 (Includes PM)
Pod 2:
Mon - Thur: 6.00 - 19.00/20.00 in office (Includes PM). Then continue working from home until 21.30 -22.00 (PM didnt work post going home unless something urgent)
Friday: 6.00 - 18.30/19.30 (Includes PM)
the first two pods (the ones with v minimal weekend work) would usually be 6.30 - 19.00 for analysts and 7/9 - 18.00 for PMs
I've seen most people do 2x a year for a week at a time. Xmas time typically people take the week off / work remotely. You still log in to read notes / not miss anything major and take the open, but usually log off at some point in AM once it looks like the coast is clear. Other week people usually take off is when it's quiet i.e. intraquarter. This can vary a lot depending on the person and priorities. Most take a week off in the summer in July/August, but depends on the person.
Weekend work depends on the team. I haven't been doing much on weekends recently, though I was on another team when I started out and it was 7 days a week.
Usually a week off in August and December as others have said, 2-3x long weekends a year (Thurs + Fri off), and maybe another week at some point for a family event / something comes up. Even on vacation I'm not "off" - I still keep up with all news flow, events, trades when needed, etc as they come up, but I don't really mind and at this point the idea of being 100% unplugged is weird. Do a fair amount of private / restructuring work as well so calls or anything related will have to be taken care of no matter where I am, but with some visibility can generally avoid having too much on actual vacations.
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