There are newer employer reviews for PEAK6 Investments

2 people found this helpful  

Fun place to work

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Culture & Values
  • Career Opportunities
Former Employee - Anonymous Employee  in  Chicago, IL
Former Employee - Anonymous Employee in Chicago, IL

I worked at PEAK6 Investments full-time

Pros

Competitive salary, good bonuses, great co-workers, good work environment, great company parties

Cons

New management brought in on media side caused a stressful work environment and implemented several rounds of lay-offs.

Recommends
Approves of CEO

PEAK6 Investments Response

Dec 5, 2013President

We're glad that you enjoyed working at PEAK6. The firm has been growing significantly which does bring a good amount of change along with it. We can definitely appreciate that our culture is not ... More

63 Other Employee Reviews for PEAK6 Investments (View Most Recent)

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  1. 5 people found this helpful  

    good to start a trading career in

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Employee
    Current Employee - Employee

    I have been working at PEAK6 Investments full-time for more than 10 years

    Pros

    - Modern expansive open floor office space w/ glass-wall offices & tall ceilings. Promotes idea sharing.
    - There are some innovative, smart, hard-working people in the firm. General office culture is nice and friendly.
    - Firm tries to uphold a semblance of intra-office social life. There are 3-4 events throughout the year with company anniversary party being the culmination. There are yoga classes, ping-pong and sporadic sports league involvement.
    - In trading the pay tends to be fair (i.e. merit based) even for junior personal. Jr Trader has a chance to make good money under the right circumstances in year 2 on the job.
    - Bonuses are predictable to a reasonable extent in trading (not so much in tech).
    - Competitive base salary in the tech department.

    Cons

    - Entrepreneurial nature of the top management. This falls under cons because of the number of curtailed initiatives over the years. I can count around 40 of such failed initiatives off the top of my head (so I'd double that number to get a more accurate estimate). The success rate for these initiatives is less than that of a VC firm and half of them have almost nothing to do with core business. Morale suffers from that, as employees often feel that the leadership is diverting resources and attention from the core proven business fruitlessly.
    - Due to aforementioned culture be ready for abrupt change. (could be a pro for some).
    - For all this change, fundamentally, the firm hasn’t changed too much over the past 10 years. (Option House and one or two profitable strategies traded in the Hedge Fund being the sole exceptions). Incremental improvements happened of course, but that is a natural occurrence for tech-based business.
    - Career progression opportunities for middle management are limited. Historically, people who were brought in for a project or initiative haven't stuck around. One often hears of ideological differences, not enough resources, unclear goals and expectations as the reasons for departure. Home grown middle management often gets moved from successful projects and then either leaves or under performs due to resulting disillusionment & lack of motivation. Partnership seems to have reached critical mass - there hasn't been anyone promoted to partner for around 4-5 years.
    - Unmotivated leadership. Some of the partners seem to be calling it in. They are never or rarely seen to be involved. Sometimes are on sabbaticals. Founding partners are very particular and controlling, so with the high number of partners, lack of motivation is not surprising.
    - It’s generally agreed upon view among the employees that disagreeing with a higher management initiatives is a bad idea, and if you want to have the best chances of comparatively good bonus, you have to support the initiatives and show respect. You do have to present a non-emotional demand here and there to make sure your needs are not disregarded and you are not being "walked on".

    Advice to ManagementAdvice

    With long term goals in mind:
    - Appear more involved. Especially in things that would make you better equipped to make good management decisions in things you are working on.
    - Keep statements like “it’s a privilege for you to trade my money” or “it is what it is” to a minimum.
    - consider publically commending top performers at all-hands meetings instead of the long-tenured employees. Or maybe a grocery store picture plaques type of approach.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  2. 1 person found this helpful  

    Trader

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Trader  in  Chicago, IL
    Former Employee - Trader in Chicago, IL

    I worked at PEAK6 Investments full-time for more than 5 years

    Pros

    Smart people, and good technology. Ability to trade what you want and have autonomy. There is plenty of transparency in the pay scale and no one should be surprised at the end of the year.

    Cons

    Its a big ship, individuals need to be cognizant of the big picture. Personal goals are good as long as they align with the firms vision. It may take more time to prove yourself.

    Recommends
    Positive Outlook
    Approves of CEO
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