Abandon All Hope Ye Who Enter Here - Financial Analyst Tradebot Employee Review

1.0
4 Feb 2020
Recommend
CEO approval
Business outlook

Pros

The free, hot, catered-in lunches were one of the few redeeming qualities about my time at Tradebot. I would also say that it looked like the Software Engineers did real, exciting programming work. Further, if you get to be a higher up, you'll be well compensated. Also, 20 vacation days is very generous starting out. That being said, you get no sick days, so unfortunately, this isn't that big of a plus.

Cons

As some of the more recent reviews note, this job definitely seems like more of a live action role-playing game at times, where your job is to appease and entertain an autocratic CEO with a penchant for firing people, as opposed to actually making real breakthroughs. To expound on this, as a researcher, I found that the CEO was afraid of new and bold ideas, and was severely skeptical of applied statistics. I was sold on the idea of joining a data-driven company, and frankly, I was disappointed from day one. The root of most of its issues is that Tradebot's power structure is entirely autocratic: the CEO is the judge, jury, and executioner. The culture used to encourage innovation, but then the CEO began to micromanage the company, stifling creativity and creating an atmosphere of distrust among and between the teams. Also, the benefits and compensation are SEVERELY lacking. Your health insurance will cost $300+/month for one person (it's ridiculously more for a family) and won't even be that great, you'll get a measly 3% IRA match, the dental program is a joke, you don't even get any sick days (although this is counterbalanced with a generous 20 vacation days), and most people felt like the bonuses were small in comparison to how much of an emphasis was placed on them at the times of our interviews and recruitment. Further, many at the company work 45-50 hour weeks, not the 40 hours you're told at recruitment. By the time you factor all this in, you're better off working at Cerner or Garmin if you're interested in software, or some other trading firm if you're interested in trading. Additionally, the work culture embodies the philosophy of high-frequency trading: take what you can get without giving back. Teams compete internally; people are reluctant to help you, because if they spend their time working on projects that don't make them look like an all-star, they won't get as big of a bonus, or worse, they'll get canned for no apparent reason. Even though the pay of a real trading firm isn't at Tradebot, the cutthroat mentality is. This leads me to my final point: the lack of any real job security. Employment is at will, meaning that the company can fire you and not even have a reason for it. This happens several times a year. They'll bring in a recent college grad, let them work a few months while they give them exclusively positive feedback, and then fire them without warning and without cause. It's not just new people, either. People who have put in years of work will also be fired, even if there's no performance or behavioral issues. If the CEO just wants to change things up, he will. Further, once you're canned, the 2 year non-compete agreement kicks in, meaning you can't work for another HFT firm. This makes Tradebot a terrible place to start a career. In sum, Tradebot used to be a wonderful place to work, but then it shifted towards an authoritarian power structure, and all innovation and creativity stopped and paranoia and internal competition thrived. Working at Tradebot is a zero-sum game, one which nobody is really winning.

Explore other reviews about Tradebot

5.0
18 Sept 2023
Recommend
CEO approval
Business outlook

Pros

Great company led by a brilliant entrepreneur.

Cons

I honestly have nothing bad to say.

3.0
24 May 2025
Recommend
CEO approval
Business outlook

Pros

- Most of the people are amazing. Very smart, talented, and fun to be around. - High standards. Some people may view this as a negative but it's really amazing to know that essentially everyone you work with is trying hard and pulling their weight. - Very good pay for KC. You probably won't find anything better outside of executive-level roles. Year-end bonuses can be quite good /if/ the company has a good year. - Lots of variety and agency. Not too much red tape when it comes to making impactful changes. - Free catered lunch is always a bonus, if for no other reason than convenience.

Cons

- While the compensation is good for KC, it is not competitive with other HFTs if you are willing to relocate. (You can expect to make anywhere from 1.5x to upwards of 3x elsewhere, depending on your experience and talent.) - No life insurance, and health insurance premiums are *very* high (which means that your salary isn't as good as you think it is!) - Weird stigma around working from home - Company culture can be clique-y at times. You will hear lots of corporate jargon about how "collaboration is better than ever," but in reality there are only a handful of people who can be bothered to talk with other teams on a regular basis. - They hire fresh college graduates almost exclusively. As a result, the company skews /very/ young; I'd guess the median age is 25. Great for having fun at company parties, not so great in terms of professional experience and mentorship. - A handful of the current 5-star reviews were submitted under duress. We were not explicitly told to leave positive reviews, but it was heavily implied. The CEO is, unfortunately, the source of almost all of the company's problems. And I want to be fair; he is a genuinely smart and talented guy who has built multiple successful businesses from scratch. He has a ton of hard-earned experience in the industry and quite a bit of worldly wisdom to go with it. But the more time you spend with him, that success starts to feel more like the result of good luck than of genuine leadership skills: - He says that he is open to criticism, but he doesn't take it seriously. Over time, this has manifested as him surrounding himself with "yes men". You could be the hardest worker in the world or a genius who makes the company a lot of money, but if the CEO doesn't like you, you will be at a significant career disadvantage. - He is too attached to "the glory days" where he was able to come up with winning trades all by himself and make a profit from his bedroom. But the industry is constantly evolving, while he is only getting older and busier. He wastes hundreds of hours (not just his own) trying to come up with his own strategies. They often are fundamentally flawed, but despite little to no success he continues to think that he knows better than all of the professionals he hired to do the same job. - He feels the need to personally understand and approve every trading and research idea. If it goes over his head it will not be approved. Advanced math and statistics are met with skepticism. He refuses to take a step back and release control to those that are more knowledgeable than he is. He enjoys it too much - it is a core part of his identity. *In my opinion this is Tradebot's biggest issue, and it could eventually become the company's downfall.* - He tends to say a lot of things that are wildly inappropriate for the workplace. Casual racism, sexism, classism, and general bigotry abound. But since no one can tell him why those statements are problematic (without risking their job), most people either ignore it or, worse, encourage him through fake laughter. - His questionable leadership tends to promote toxicity. Lots of whispering and gossip behind closed doors. If you stay with the company a long time, you will ultimately become jaded knowing that you are powerless to change anything. At that point your only options are to leave and save yourself, or drink the Kool-Aid and hope you don't end up going down with the ship. Despite all that, Tradebot is still a decent place to work. Especially for your first few years out of college - you will learn a lot, get paid well, and probably have a lot of fun. But it is not somewhere you want to stay long term if you are looking for a healthy environment to grow your career.

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