Employment Contract Questions

I'm a senior graduating in May from a (non-target) state school who recently got a trader position offer from a top 3 HFT prop shop. I'm a little concerned about the employment contract because it includes a 2 year non compete. Most of the graduate programs (mfe/quant finance) I'm looking at for the future are 1-1.5 years. Should I be worried about this?

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5 Comments

bigblue3908

HF

13y

Depends on the language in the contract but most of those clauses are completely unenforcible at the junior level. Check it over with a lawyer if you're unsure, but I doubt it's anything to worry about

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Authored by: Certified Hedge Fund Professional - 3rd+ Year AnalystCertified Hedge Fund Pro

justin88

HF

13y

bigblue3908
Depends on the language in the contract but most of those clauses are completely unenforcible at the junior level. Check it over with a lawyer if you're unsure, but I doubt it's anything to worry about

This is completely false. Not only is it enforceable in many jurisdictions, but any trader position is a senior position when a lot of capital is in play.

OP, I work in this space; feel free to PM me any specific questions.

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Authored by: Certified Hedge Fund Professional - Portfolio ManagerCertified Hedge Fund Pro

bigblue3908

HF

13y

Best Response

justin88 bigblue3908:
Depends on the language in the contract but most of those clauses are completely unenforcible at the junior level. Check it over with a lawyer if you're unsure, but I doubt it's anything to worry about

This is completely false. Not only is it enforceable in many jurisdictions, but any trader position is a senior position when a lot of capital is in play.

OP, I work in this space; feel free to PM me any specific questions.

I'll defer to you since I'm not a trader, but I've talked with multiple lawyers who say the opposite for junior level positions at least. But I can imagine it's more stringent in prop trading than it is for MC/IBD for obvious reasons

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protectedclass

O

13y

i am curious what a "top 3 HFT prop shop" is or means.

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yenvoltrdr

?

12y

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Employment Contract Questions

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