Comments (7)

Dec 21, 2010

They don't have a form D filed with the SEC as far as I can tell. That means it is probably a shop with proprietary capital, not a fund with outside investors.

Assuming they really do have no form D, but are a hedge fund, they are building a track record prior to sourcing from institutionals. Really risky to work for them and unless you think they have something really special as far as strategy, I would advise against it (plus it's not like they're going to give you equity in the mgmt. co., so you should probably just go work for someone else).

If not a fund, then they are trying to be a prop shop like First New York Securities. That's not really a "hedge fund" (though it's definitely legit) and I don't particularly like the compensation/structure at those firms (for people starting out at least- if you are already a great trader with a few years profitable P&L, then that makes sense).

Very strange that they don't have a Management section on their site, and the quality of the site isn't very top notch (especially for a firm that says on its Careers page that candidates must have "Good computer language skills (C++, C, Python, etc.) and data management abilities.", lol or maybe that's precisely why it says that hahaha).

Too many red flags, I'd pass, but feel free to talk to them if you want, nothing bad can come of it.

Dec 21, 2010

You don't like the compensation/structure at those firms...? Ones that pay similar salaries to BBs and potentially higher bonuses with half the hours? Man... I want to know what to chance.

Dec 21, 2010

Compensation is probably highly dependent on individual P&L, so for a noob, it might suck royalty...

Dec 21, 2010
James07:

Compensation is probably highly dependent on individual P&L, so for a noob, it might suck royalty...

Yeah that's what sucks about it. I said it was fine for a trader with experience and a good P&L. It's a risky job to go there straight out of undergrad and I wouldn't recommend it.

Dec 21, 2010

As a TA, most places will have pre-trading bonus comp around $60k or so (most places will give a TA bonus + possibly sign-on bonus and raise after 6mos) and that is generally in Chicago versus NYC. Hardly a 'harsh' compensation structure by any means.

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Dec 21, 2010
Jerome Marrow:

As a TA, most places will have pre-trading bonus comp around $60k or so (most places will give a TA bonus + possibly sign-on bonus and raise after 6mos) and that is generally in Chicago versus NYC. Hardly a 'harsh' compensation structure by any means.

Yeah but a lot of these firms will require you to put your own capital at risk and have a first loss position.

Why would someone take a job with those firms when they can just lever up themselves with an online broker and have a first loss position that way? You could get a stable job on the street, build your own P&L on the side, and if you kick ass, then use that P&L to get a job at one of these firms. If you suck at trading, you still have a job and aren't out on the street (with a loss on your own capital to boot).

Dec 21, 2010
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