What's your experience in the industry?

qlai · Jan 19, 2018

https://www.google.com/amp/s/www.fo...cy-legal-battles-against-quant-employees/amp/

Not trying to suggest that you stole anything, but companies don't like their employees doing competing business. I'm not a lawyer, but I believe that while you're employed, everything you code on the side can be claimed by the employer, especially if it's in the same field. It's a small industry, don't poke the bear.

Aquarians · Jan 19, 2018

What you're describing sounds a lot like indentured servitude.

Anyways, my new employer isn't doing finance, besides not having an absurd claim over stuff I do at home (provided of course I'm not being unethical and compete with him, which is not the case anyways).

qlai · Jan 19, 2018

I'm not advocating for it, just stating. Sounds like you on your way out of it and I wish you luck. Hope to join soon. Cheers.

Aquarians · Jan 19, 2018

Thanks then and good luck to you too!

ironchef · Jan 19, 2018

sle said:
Imagine this. You're working on a Formula 1 team, specializing on the front differential. You are the best specialist out there. Do you think you will know anything about the actual driving process and what makes a successful race team (or even how to build a successful race car)?

If you are naturally curious and smart, you can learn through osmosis and asking. It is the same in any large company. The current CEO of GM, she started as a lowly engineer.

DeltaRisk · Feb 14, 2018

traider said:
Since you worked 10Y at a hedge fund, you should have a good idea of what works and what doesn't. What's stopping you from trading and making some serious dough? Unless your fund is based on HFT and superior infra but it doesn't sound like it from your post.

Most HF’s separate workers, they are not allowed to collude. They are required to sign agreements saying they will not trade with another company for 1-2 years if they quit or are fired. Not to mention, they cannot trade anything that was traded at the company. Seriously, look at the docs at a big HF if you don’t believe me.

I’ve worked buy and sell, I know exactly what they do. I don’t really think it’s necessary but I guess they do.

JackRab · Feb 14, 2018

DeltaRisk said:
Most HF’s separate workers, they are not allowed to collude. They are required to sign agreements saying they will not trade with another company for 1-2 years if they quit or are fired. Not to mention, they cannot trade anything that was traded at the company. Seriously, look at the docs at a big HF if you don’t believe me.

I’ve worked buy and sell, I know exactly what they do. I don’t really think it’s necessary but I guess they do.

2 years is a bit much IMO. I'm sure any lawyer can punch a hole in those agreements...
If your line of work is trading, and if you're fired... or even quit... and you can't make a living for 2 years in your normal line of work, that would be unfair practice I would think.

We had 6 months of gardening... and even that could be wiped if you would go to court... that was Europe though.

DeltaRisk · Feb 14, 2018

JackRab said:
2 years is a bit much IMO. I'm sure any lawyer can punch a hole in those agreements...
If your line of work is trading, and if you're fired... or even quit... and you can't make a living for 2 years in your normal line of work, that would be unfair practice I would think.

We had 6 months of gardening... and even that could be wiped if you would go to court... that was Europe though.

They’ve been punched through before, it’s just most traders will go on to become a manager/compliance officer or another industry related for that year or two rather than go to court.
You can get hired for a lot of jobs with an MFE/MBA degree.
It’s more of a scare tactic to protect proprietary information.