Virtu Financial

  www.virtufinancial.com
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3.5 10 reviews

100% Approve of the CEO

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Vincent Viola

(2 ratings)

78% of employees recommend this company to a friend
10 Employee Reviews
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    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
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    • Approves of CEO

     

    Work Hard, Learn Lots, Earn Well

    Trader (Current Employee) New York, NY

    ProsYou will learn a ton, and make good money, and work with great people. Overall working with great and smart people is the best part. You have to be proactive to be successful here.

    ConsIf you don't love market making and arbitrage, this is not the place for you. The hours are long so only do this job if you love the area. Doesn't have the cushiness of a fortune 500 company--you can't disappear into a back corner.

    Yes, I would recommend this company to a friend

    • Culture & Values
    • Work/Life Balance
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    • No Opinion of CEO

     

    IQ and honesty is the most important - which is refreshing

    Trader (Former Employee) Santa Monica, CA

    ProsNo politics and IQ matters
    You either cut it or you don't
    Your ideal world, if you are smart

    ConsIntellectual curiosity only satisfied in a narrow band
    Don't plan on doing anything outside of work

    I was the only person in the history of this company to attend graduate school while being a trader. I don't advise that for anyone, not even Einstein. You need your creative juices during the times you shower and bathroom breaks, and it is not a typical job where you can "just get by".

    Advice to Senior ManagementNone. This company knows how to make money. Its less than it was before since volatility is down.

    However, the world has no need for this sort of company. Providing liquidity is no different than what floor trading market makers used to do. It is easier to track down mischief with actual humans on the trading floor than electronic market algorithms.

    A simple trading tax will kill this sort of company. I also believe in Glass Steagal. Funny how this is the most ideal company culture I have seen though. So sick of "power moves because I can". What a paradox of life.

    Yes, I would recommend this company to a friend

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
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    • Approves of CEO

     

    Exciting financial firm, challenging and rewarding.

    Anonymous Employee (Current Employee)

    ProsDecent perks and salary. Very bright, group of people and down to earth atmosphere, no big ego types.. for Wall Street this is huge.

    ConsVery long hours, terrible work life balance.

    Advice to Senior ManagementEncourage more of a work life balance and efficiency instead of just clocking hours for the sake of appearing devoted/hard working.

    Yes, I would recommend this company to a friend

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    • Work/Life Balance
    • Senior Management
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    2 people found this helpful  

    a bunch of exceptional people, banding together to do some pretty remarkable things

    Anonymous Employee (Current Employee) New York, NY

    Prosawesome co-workers, friendly and collaborative culture, lots of room for growth, easy access to senior management, great compensation, some really cool technology. still has that startup vibe.

    Conssteep learning curve with minimal hand-holding, sink or swim philosophy, demanding work and can be stressful at times

    management has poor taste in vodka

    Advice to Senior Managementmore fresh fruit, less ostrim sticks in the kitchen

    Yes, I would recommend this company to a friend

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
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    1 person found this helpful  

    Fast paced company with great learning environment, but terrible treatment of employees.

    Anonymous Employee (Current Employee)

    Pros-Virtu has a very fluid work environment. Job responsibilities can change frequently, which is a plus for some.
    -High energy and intense culture (be prepared to drink Monster Energy or lots of coffee)
    -Full of smart and responsive workaholic types (the rest have quit or have been laid off)
    -Small company with a lot interaction with upper management.

    Cons-Virtu has very low pay relative to other financial firms. Compare with any other top tier HFT firm, hedge funds, or banks.
    -Extremely long hours are expected 60-80+. Work on weekends are fairly common. It is like an banking job but much lower bonus and salary. Many employees do the equivalent work of 2-3 jobs
    -Poor management. The leading partners micro-manage and take lion's share of profits while adding little value. Even some small partners have quit in the past.
    -High turnover - both due to lay offs and people quitting. There are frequent merciless lay-offs and very little severance is given. The merger with Madison Tyler also gave them an excuse to unnecessarily lay off a lot of good people. It forced those remaining picked up the extra work.
    -No women. A boy's club.
    -The company is stingy with money overall. Interview expenses did not get reimbursed.
    -Useless IQ test is given to candidates before interviews.
    -Non-compete is mostly unpaid according to former employees and lasts 18 months. This is contrary to industry norm of 3-6 months full salary non-compete.

    Advice to Senior ManagementTreating employees better will be key.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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

    2 people found this helpful  

    do you want to be around the best and brightest?

    Senior Trader (Current Employee)

    Prosif you can strive with:
    long hours
    a stressful job where results are expected
    new challenges day in and out
    a lean team with few support staff
    being self-directed
    no-ego
    a meritocracy
    being honest, trustworthy, and "virtuous"

    then i recommend apply to work as a trader or developer here. it is a constant learning experience, and highly dynamic environment, and you will be around exceptional people.

    Consif you want:
    a 9-5 workday
    someone to hold your hand
    to hide behind someone else's success or failures
    to hide your mistakes
    politics

    then this is not the place for you.

    Advice to Senior Managementstay focused.

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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

    2 people found this helpful  

    Trader/Developer

    Trader/Developer (Current Employee)

    ProsExcellent Pay. But 80+ to 100 hour weeks.
    Work with lots of smart people. But no women and everyone is competing to be the top dog.
    Free Food and Health Club. But you have to eat at your desk.
    Decent Partners. But it is best to be liked. Otherwise you better work the 100+ hours.
    Young demographic. Not many workers with Families.

    Cons80+ hour weeks or more (typically more).
    Never ending pressure to deliver and not make mistakes. Fired on the spot if you loose money.
    I'm getting married and it will be frowned upon.
    What have you done for me lately mentality of the partners

    Advice to Senior ManagementMore activities for team building

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities

    6 people found this helpful  

    A group of good, smart, hard working individuals shaping the electronic trading space

    (Current Employee)

    ProsAs a way of background, I work in the "front office" with the traders and algo developers. I have worked at Virtu for several years and know the company as well as anybody else at the firm.

    What I can say about the firm: quite simply, I wouldn't work anywhere else or for anyone else after working at Virtu. I have heard others at the firm say similar things, so my opinion is not just some rogue opinion. I would call Virtu a very unique space in finance -- nothing like working at a bank. Closer to a start-up, but more grounded, aggressive, mature, and results driven.

    The People

    Virtu is extremely successful in the electronic trading space, but you would never guess it from talking to the people -- egos are pretty much non-existent. Everybody is bright, humble, hard working, and down to earth. Most are from a top school and have advanced degrees in engineering, math, computer science and/or physics. People are extremely motivated and independently capable -- not a lot of hand holding is required/goes on at Virtu. People who are trustworthy and genuinely good people (in addition to having substantial intellectual horsepower) are the ones who typically progress through the interview process and get hired.

    As for the environment, management frequently rotates traders through different markets, so nobody "owns" a market or a strategy, which requires traders to be collaborative and focused on growing the firm as a whole, rather than one's own "pnl." Traders work with several developers at a time, so there is a constant cross pollination of ideas. The structure is extremely flat, so political BS is pretty minimal. Just come in, do your best, and then go home (late).

    The Work

    While there are responsibilities assigned from higher ups (which can be quite onerous at times) and some other constraints, in general, traders are relatively free to explore markets. Trading is stressful (not for the faint of heart), but is very interesting. The landscape of the world’s markets is changing quickly, so trading ideas must constantly be reconsidered and refined. Every day brings a new problem / opportunity.

    The Management

    The management is a small group of individuals who are leaders in the field of electronic trading. They are in direct contact with every trader/developer almost on a daily basis. Management actually cares about both your personal as well as professional growth. They are extremely supportive, but also very demanding. Extremely so. Virtu is NOT a 9-5 shop. Average work days are > 12 hours per day, and it is expected.

    Virtu demands "excellence" and that "excellence" is what every trader / developer seeks to attain on a daily basis. For those who have not yet been indoctrinated, "excellence" is working as virtuously, responsibly, rigorously, courageously, and precisely as possible. A job is not done unless it is perfect. It is holding yourself to a higher standard than you ever thought possible. At times, they may go overboard with the "excellence" mantra, but for the most part, the right balance is achieved to set the tone for the firm.

    In addition to focusing on growing Virtu internally, management is always seeking to branch out into new markets, new opportunities, etc. You feel like they are working for you just as much as you are working for them. Not every decision that they make is perfect (and this is a source of frustration to some), but the amount of ground they have covered in such a short time demonstrates that they are here to push this company to new levels and are capable of making just about anything happen.

    As mentioned in an earlier post, yes, management will celebrate a good day/goal achieved with the team with some bad vodka or some bad American beer. ;) If your palate is accustomed to only cristal/dom, this is not the place for you. Management is a bunch of down to Earth, charismatic, youthful guys who want to make as much progress in the electronic trading space as humanly possible.

    Sky's the Limit

    Opportunity. Your own growth is dictated, for the most part, by you. Virtu is structured to allow every person to reach his/her potential. If you desire to succeed, are smart, are a good, humble person, and can put in the time, you will succeed at Virtu. If you want to trade a specific asset class, you probably can given the right work ethic. "Slow starters" are moved around to different areas to find one that "fits."

    As I alluded to above, the organization is extremely flat; there is no "ladder" to climb. Those who are the most "successful" are the ones who come in everyday and who take on more and more each day, pushing the firm forward.

    Other pros:

    Catered meals, fully stocked kitchens (food doesn’t rotate often, so can get boring), gym facilities in some offices, snacks (yes, Ostrim), nice offices, latest technology, protein bars, free haircuts/laundry in some offices, and offices around the world.

    ConsThe hours are long and intense (read, not boring), but they are, for the most part, confined to Monday-Friday. If you don't want to work hard, then you are very likely not driven/motivated enough to excel in this environment. You are expected to give some blood for Virtu, but it is by no means a one way street. Management definitely "gives back" equally (and then some) in many ways.

    Other than the hours, the only other negative that really comes to mind is that things can change quickly sometimes in a “knee jerky” way given problems / opportunities. Management is very dynamic and seeks results, so many solutions are tried in rapid succession. If you cannot "roll with the punches" you may find the pace too frenetic/dizzying.

    To sum up – if you can handle the pace, hours, and expectations, Virtu is a unique place to code/trade where you can meet some good people, develop socially and professionally, work on some interesting technology/projects, and learn a lot about electronic trading.

    Advice to Senior ManagementMore firm outings/trips would be fun/good for team building.

    Yes, I would recommend this company to a friend

    • Work/Life Balance
    • Senior Management
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    • Career Opportunities

    5 people found this helpful  

    Not too bad if you can handle stress and bureaucracy

    Anonymous Employee (Current Employee)

    Pros-Good Medical and Dental Benefits
    -Reasonable Salary
    -Lunch and Dinner
    -Cab reimbursement for late night stays
    -Various company holiday events

    ConsDefinitely not an easy place to work. Be prepared to be stressed every single day. Everyone will stay late almost everyday. Very high turnover rate.

    Advice to Senior ManagementKeep the your loyal workers and stop the layoffs. Why waste your time by constantly replacing old workers with new hires?

    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities

    5 people found this helpful  

    Not a good environment

    Anonymous Employee (Former Employee)

    ProsGood compensation and successful buisness with many smart employees and lots of funding. control over projects and responsibility

    Consbad culture and hours, unexciting work, unhelpful and competitive co workers. Face time culture of trying to look like working hard matters more than competency

    Advice to Senior ManagementImprove the work life balance of this firm a lot and you will get more productivity and happiness from your employees

    No, I would not recommend this company to a friend

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