There are newer employer reviews for PEAK6 Investments
There are newer employer reviews for PEAK6 Investments

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Helpful (2)

Fun place to work

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

I worked at PEAK6 Investments full-time

Recommends
Approves of CEO
Recommends
Approves of CEO

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.

PEAK6 Investments Response

Dec 5, 2013 – President

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

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  1. Helpful (7)

    Most of the best and brightest traders have left the firm. One trick pony

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

    I have been working at PEAK6 Investments full-time (More than 3 years)

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    Pros

    Peak6 is incredibly generous when it comes to providing its employees with unlimited candy, carrots and string cheese. The partner's art collection is one to marvel at when you get situated every morning at your workstation.

    Cons

    Management can at times be detached, uninterested and unavailable to the employees. The cultural perplexities require solid game theory skills just to navigate the very political landscape there. The playing field is full of hidden booby traps so tread with caution.

    Advice to Management

    Limit the political promotions and rid yourself of the many worthless mid to lower middle managers. Way too much micromanaging and second guessing going on from these rather useless individuals.

    PEAK6 Investments Response

    Dec 5, 2013 – President

    Thanks for your feedback. We definitely do encourage an open, transparent culture. And we agree -- a political, bureaucratic culture doesn't support our core values. It sounds like your ... More


  2. Helpful (7)

    good to start a trading career in

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

    I have been working at PEAK6 Investments full-time (More than 10 years)

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    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 Management

    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.


There are newer employer reviews for PEAK6 Investments
There are newer employer reviews for PEAK6 Investments

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