Seen lots of shit thrown towards FTP on this forum the last few years. Does anyone have any insight into the firm over 2021? Have things improved, especially for the London and SF offices.
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I think it's a really cool shop, but the culture is awful. Which, understandably makes people less inclined to work there
The stuff I'd like to say about this firm. So much that I fear for my anonymity honestly.
This firm made me hate finance at the core and that you actually need people to care about you to also enjoy your job. No other comments until I'm more comfortable.
Have a friend who works there FT (NY office). According to him, it was a sweatshop to begin with, but WFH has made it much worse. He hates his life and he's planning to lateral ASAP...
Yes it is a complete sweatshop (know someone who regularly pulls 4 am nights) and people have no souls. Yes they do extremely well in fintech.
Absolute sweatshop. My roommate/MBA classmate works at FTP's SF office. He hasn't left the house in months. Consistently works until 2-3am on both Mon-Fri and weekends. No protected Friday nights/ Saturdays whatsoever. This is not due to WFH or SPAC boom. Dude's been living this lifestyle since 2019. He doesn't even have time to do his laundry and so he hired a housekeeper. Bonus seems really really good though.
Don't be shy. Give us the bonus numbers
I'll say this much: he's a ASO3 but has already paid off his $160k MBA student loan.
What's crazy is that this is how Associates are treated. Imagine how it's been like for Analysts. This is why most Analysts leave in less than a year.
Lol totally agree. But then I could probably say the same for the VP/Ds raking in $500-700k who do nothing but give last minute comments (which will in 99% of cases be overturned or edited by the MD again) and have been hands-off for so long that they can't even read a model anymore (i.e. always asking for model walkthroughs)
I've heard the pay is street, but a large chunk is deferred and most people leave before earning all of it.
Can confirm - got an offer there.
Can you give us the details of it? Like how deferred? Also is there any claw back?
First year analyst base 85K + sign on 10K. Not sure what you mean by defer. Clawback was there but it was never exercised from what I’ve heard.
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