Flow Traders (MM)
Got an offer for this firm based in NL. Does anyone have comp ideas 2-3/5 years in? Culture? Is it a good place to be early career wise? I know they're very focussed on ETFs right now, but have heard they're trying to expand. I also have a BB offer in NYC (MS/JPM/GS) in S&T so trying to decide between the two. Their 2021 trading profits looked pretty terrible, wonder if that's a bad reflection on comp and culture..
Hey Trader in PropTrad, I'm the WSO Monkey Bot and I'm here since nobody responded to your thread! Bummer...could just be time of day or unlucky (or the question/topci is too vague or too specific). Maybe one of these topics will help:
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Hope that helps.
I think they’ve been on an overall decline for a while. Their fixed income is good but every other product from what I’ve heard is pretty bad. They’re trying to build out crypto but also not very good at that either. Additionally discretionary bonus comp now has a partial vesting period and includes shares over cash. If you’re good at trading though I know someone who’s made a 1.1m bonus 2-3 YoE.
Did they make that €1.1M in 2020 by any chance (when flow had an exceptional year)? Asking because I don't see that performance having a repeat anytime soon.
I'm not sure, I remember him saying he made a 1.1M bonus that year while someone else made a 7K bonus. They are very very desk-focused not just firm-focused. You won't see that sort of disparity at a place like Optiver.
Yeah other than 2020 they have not done well recently. The number of employees making more than 1 million euros in past 5 years:
2021: 16
2020: 66
2019: 0
2018: 29
2017: 0
I'm not sure how much is firm versus desk very individual but looking at the 2017/2019 numbers seems no one is getting paid that well when the firm is struggling. Many firms also did similarly in 2021 versus 2020 but not Flow Traders. If you think you are better suited for prop trading than BB S&T Flow Traders is at least a publicly listed established firm unlike some smaller prop firms. Also more than some prop firms like Virtu if Flow does make money they do pay their employees.
Yeah, the comp numbers seemed a bit worrying to me, worried the firm is going to be outcompeted by the very hardcore MMs in the ETF space like Jane street and whatnot, it was my thinking that options MM is more suited to humans than ETFs especially in the medium to long run. Do you know anything about whether it's easy to jump ship from a firm like Flow? There's a year long noncompete but I suppose that's standard in the industry
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