Hacker News Reader

Note though that Citadel is reputed to have a turnover rate of 100% per year. Their layoffs take care of themselves.

I spent 9 years there, left a decade ago. Turnover is high, but this is a gross exaggeration. It is stressful, and not everyone can hack it. I was there during and after the '05 layoff when roughly 2/3s of IT was cut. That's still the worst I've heard of from what I hear from friends that are still there.

Ken G definitely does the "Good to Great" getting the right people on the bus thing, which typically means the bottom 5-10% are cut, but even that was slowing before I left.

Thanks for correcting me. Did you get a sense of whether engineers had a higher or lower turnover rate than traders?

The turnover for engineers tends to be lower than for traders at citadel and at a lot of quant firms.

Additionally, the turnover for citadel is not evenly distributed across teams. Certain teams and orgs have a lot more turnover than others. Some teams are made up of people with <=2 YOE at company while others are made up of people with >=15 YOE at company.

This!

My personal background is a "well known hedge fund" and the turnover there was rather high.

Many quit because it wasn't "a good fit".

Reply on news.ycombinator.com