The hiring manager told me that the compensation above 400k gets automatically invested in the fund, and cannot be redeemed for 4 years. If someone leaves or gets canned before 4 years, they’ll get back the contributions but forfeit the returns generated. Where is the catch? If the fund actually has negative returns, will I still get back the original contributions? Are there any other scenarios where they would keep the contributions? It seems a bit worse than typical RSUs... I am expecting about 600-700k TC.
Wow 🤩
Can you share your yoe and role? Swe backend I’m guessing?
Backend. 11yoe. Tech lead.
Also do you have experience in Faang like companies? Thanks for your reply :)
Lol no...
I left Citadel a long time ago so my knowledge is no longer up-to-date, but FWIW, I joined in early 2008 and I remember asking the same question to the recruiter ("if the fund has negative returns, will I get my original contributions?") and the recruiter claimed he wasn't sure because no one has ever asked that before. Then the financial crisis happened and the fund nose-dived 50% that year. :-( Lucky for me, my money wasn't deposited in to the fund until the end of the year after that loss, so I didn't lose any money.
@op what is your offer?
Thanks! Care to elaborate a bit? It would be really helpful to get the distilled opinion from someone who knows best. Also, is Citadel Securities different on this? Because this position I am trying to pursue is for Citadel, not the securities part.
This would be interesting info @Citadel, following