Bridgewater and Point72 not good for long-term career?

TheBag's picture
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Rank: Monkey | banana points 38

I'm an undergrad interested in breaking into HF. I've been receiving comments that Bridgewater and Point72, both of which have structured undergrad recruiting, aren't good for a long-term career. Does anyone have any insight on this and is it really better to start in IB rather than at either of these two firms?

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Relevant Salary & Bonus Data

1st Year AnalystGeneralistPoint72

New York, NY - 2017

Assistant Vice P...Investment ResePoint72

New York, NY - 2018

EngineerResearchPoint72

Stamford, CT - 2019

Investment Analy...Equity ResearchPoint72

Hong Kong - 2018

1st Year AnalystDebt Capital MaPoint72

NEW YORK, NY - 2019

OtherGeneralistBridgewater

Westport, CT - 2018

See All Bridgewater compensation Data

Comments (9)

 
Dec 22, 2018

Bridgewater isn't so ideal due to the two-year non-compete, the incredibly niche skill set you develop, and the lack of upward mobility (or so I've heard) beyond the junior levels. Would not say this is the case at P72, where mobility is promoted. My guess is the reason people say so is do to the multi-manager model run at the firm and the risk of pods getting cut after hitting risk limits; to my knowledge, turnover is lower than at Citadel/Millennium/BAM due to internal culture initiatives.

Hedge Fund Pitch for Interviews
 
Dec 22, 2018

Bridgewater has 2 year non-compete?

How extensive is it?

And what do they pay you will enforcing it?

Array
 
Dec 22, 2018

I only know of it anecdotally through friends and acquaintances, but it bars you from working in the industry for two years after leaving the firm. The most restrictive clause I'm aware of in HF. I'm not sure if they pay anything during the period.

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Dec 22, 2018
Extraordinarily Dry Tuna Sandwich:

I only know of it anecdotally through friends and acquaintances, but it bars you from working in the industry for two years after leaving the firm. The most restrictive clause I'm aware of in HF. I'm not sure if they pay anything during the period.

They have to pay you... you could go fishing for two years and still get paid. Other option is to go work in California where non-compete is illegal.

Research Analyst - Certified Professional Certified Hedge Fund Pro
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Dec 22, 2018

Ya but on non competes what do they pay you? Like citadel non competes all the time. But what do you get paid then. I haven't asked but taking two years off of you career could be a lot of money. Is it just salary or they pay you an expected bonus too.

Array
 
Dec 22, 2018
traderlife:

Ya but on non competes what do they pay you?

It's base plus benefits (e.g. health insurance). Some define it as a non-compete and some define it as a gardening leave, but the legal treatment is the same.

Portfolio Manager - Certified Professional Certified Hedge Fund Pro
 
Dec 22, 2018

Just salary and benefits, no expected bonus. What Citadel does is that all the bonuses accumulated from previous have a big deferred component. Your options are to sit out a required period and collect the deferred from citadel, have another firm buy out your deferred, or go work elsewhere before expiration of garden and give up the deferred.

Non compete much less restrictive at all-cash bonus firms like Balyasny and Millennium.

Research Analyst - Certified Professional Certified Hedge Fund Pro
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Dec 22, 2018

How does citadel hire then? Seems to be a no brainer to sign elsewhere all things c9nsidered.

Array
 
Dec 22, 2018

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