In January Simons named his son Nathaniel as co-chairman of RenTech’s board and added five new directors, one of whom is his son-in-law Mark Heising. Simons stepped back from RenTech, which has around $68bn of assets under management, in 2010, when he appointed Peter Brown and Robert Mercer as co CEOS, but Mercer left in 2017 after backing Donald Trump’s Presidential campaign. Forbes puts Simons’ fortune at above $21bn, also putting him above Dalio and Blackstone’s Stephen Schwarzmann in the pay stakes. The Man who Solved the Market, a book by Gregory Zuckerman tells the tale of Simons’ ascent and estimates that Renaissance has generated over $100bn in trading profits since 1988. RenTech is perhaps the most famous quant fund and its 82-year old founder Jim Simons is referred to as the godfather of quants. The blatant omission from WSO's satisfaction rankings is Renaissance Technologies. In terms of pay analysts earn around $104,000, the lowest of the big hedge funds. The firm appears twice in the satisfaction rankings - once as Bridgewater where it ranks seventh, and again as Bridgewater Associates, which languishes in 32nd position.

Dalio is showing no signs of slowing down and has been through a number of CEOs, the last one being Eileen Murray who resigned in December after a decade at the firm. This makes for a rather unique culture and has led to succession problems.

The 70-year old Dalio who is both co-chairman and chief investment officer, is known for his doctrine of “radical transparency” and wants people who ask questions and are open to being challenged. Bridgewater is the biggest hedge fund in the world with approximately $160 billion in global investments for a wide array of institutional clients, corporate and public pension funds, university endowments and charitable foundations.Īpproximately 1,200 people work at Bridgewater, which is based in Westport, Connecticut. Ranking after AQR in the employee satisfaction stakes on Wall Street Oasis is Ray Dalio’s Bridgewater. “That’s all that’s left…and then AQR becomes a utility.” Speaking at a Quant Conference in London last year, Cantab founder and chief investment officer Ewan Kirk said that all quant funds are destined to become more like AQR in the race to survive as they expand and compete to reduce marginal costs. Rival funds can be a bit sniffy about AQR. AQR focuses on automated research practices and computer models. This might be beause it's towards the bottom of the scale in pay according to WSO with analysts earning an average base salary of $113k. In the same memo, Cohen said that 2019 was the it was the second-most profitable year in Cubist's history, bucking the industry trend.ĪQR Capital management is the second biggest hedge fund in terms of assets under management but ranks sixth in terms of overall satisfaction according to WSO's figures. This week, Point72's head quant - Ross Garon - quit according to a memo sent to investors. Insiders say Garon will stay on until a successor is found, and Cohen is keen to point out that he’s leaving on a high. It has endured a rocky time lately after its billionaire founder Steve Cohen moved to embrace the quant revolution with the foundation of Cubist Systematic Strategies. Point72 asset management which manages $16bn, ranks in fourth place in overall satisfaction.

Analysts an earn an average base salary of $156k rising to $167k for a quant, according to the site. Founded in 1990 by Kenneth Griffin, Citadel manages $30bn in assets under management (AUM).

We recommend wearing what you feel is appropriate and comfortable.”Ĭitadel runs Two Sigma close in the pay stakes and is third in terms of overall employee satisfaction on WSO's measurements. Two Sigma is keen to position itself as an attractive place to work – its offices have recording studios and ping pong tables. In a section about interview tips to prospective job candidates on its website Sigma plays up the fact it doesn’t have a dress code: “Folks come to work in anything from a suit to jeans and a t-shirt – the same goes for you. These figures are based on a small sample, so it’s worth looking at other factors. Two Sigma Investments, which was formed by former senior DE Shaw executives, is a pure quant fund and is the second most highly rated according to Wall Street Oasis (WSO). It is also top of the list for pay to analysts, who earning an average of $186k, rising to $210k for quants, according to WSO. DE Shaw moved beyond its roots as a pure quant fund years ago and combines computer-driven analysis with fundamental strategies frrm human stock-pickers, earning it the title ‘quantamental.’ Eric Schmidt, the former Google chairman who owns a 20% stake in DE Shaw is a fan and reckons this approach will be the future. DE Shaw tops the rankings for overall employee satisfaction which stands at 98.6%, and career advancement opportunities, according to forum website Wall Street Oasis.

Top quant firms