Which benefits / perks are most culture-enhancing for you?
I think we all can agree that hedge fund experience and culture will in large part be based on the nature of the people you work with and the performance of the fund. But those factors aren't always controllables from the top, or diligence-able by new hires. What are some of the things within management control that you find to be most valuable and either culture-enhancing or experience/performance-enhancing? Thinking mostly of perks, benefits, rituals, etc. that you find particularly valuable. Beyond just the basics of free meals.
Any opinions are much appreciated. Especially curious about how which perks / benefits / rituals you valued most changed by experience level and age.
Nice boss is good enough for me.
401k match. Figures are all over the place and between different caps, vesting schedules and rate of match it’s a highly variable factor when looking at total comp.
Can you give some examples of ranges you've seen in your experience? High, average, low
Personally, I've seen 150%, 50%, 10%, and 0% match. Not sure what normal is.
Interesting, I’m surprised that 401k match would hold that much stock just given the difference in match policies is a (relatively) small % of all-in comp that you wouldn’t see the benefits of while working at your shop
High floor, nice views, good coffee.
millions of dollars per year
1. Fire the a**holes. Less poor managers near the top increases the likelihood of good managers down below.
2. Good dental/healthcare package
3. Good 401k match
What makes a good dental/healthcare package and 401k match in your opinion?
They should cover anything you can think of with high limits. For example, kids braces, vision, and $5k+ per person dental work.
Healthcare you want to make sure you have freedom to pick doctors (not limited to in network and out of network is still reasonable). You don’t want to pay a bunch monthly for this (mostly paid by employer) and have a good provider who will proactively work through new cases. And full family coverage, similar with dental.
401k I’ve seen a full match (1-1 up to max you can give). But most places do less than that.
bosses and coworkers who genuinely want to see you grow (in terms of heirarchy, and skills), and will help cultivate your growth within the firm. That is head and shoulders above everything else for me. Only a select few firms actually function this way in finance (e.x CVP).
Yeah definitely agree on apprenticeship being one of the biggest draws. But was more trying to think of what are the non-monetary carrots upper management can dangle that people value. To your point on CVP - what do you think they do well? My understanding was their big differentiator was taking money out of the equation as a reason for people leaving. Curious if there’s anything you’re seeing them do to foster retention.
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