How do you evaluate teams at MM firms?
Currently, a 1st year Associate at a UMM fund in NYC. I'm interviewing for a team at one of the large MM shops (e.g.,, Millenium, Balyasny, Point72, etc.). I'm far along the process, but I have not had any conversations about the capital base, compensation, etc. As someone that has no real network in the / space, how do you get comfortable with the team? I realize each pod is different and they all have different compensation structures / amount of capital to invest, but are there any good questions to ask HR or the analyst I would be working for? For example, if a PM is managing an book with 3-4 analysts under him (and other junior members underneath the analysts), is that a good sign given it's a fairly built out team? Separately, how do you evaluate PMs that have jumped around different HFs? Should that sound alarm bells or is that a good sign that he has a track record that is good enough to get hired at all these places? Thanks!