Fired from Optiver
I've heard that Optiver only gives temporary 1 year contracts for new hires after which only a certain percentage get their contracts renewed. Does anyone know what the percentage is for swe? Also is there anyone here who didn't get their contracts renewed? If so, what feedback did you get? Were you expecting a renewal?
Was renewed myself but from what I saw with others that weren't - negative feedback was mostly about being very slow, too dependent on others and most importantly not showing improvement in those areas throughout the year. So it's ok if you're slow and dependent after 3 months but not after 9 months
When exactly did you find out your contract was being renewed, was it exactly after 12 months?
It was before, something like 9-10 months. I don't know if that's always the case, but when you're on a visa it pretty much has to be before - you can apply to renew the permit 3 months before it expires, but only when your contact is renewed. Also, if you're not renewed this gives you a couple of extra months to find a new job before your visa expires.
TC at IMC?
was intern, but for full time new grad its 165k yearly (including starting bonus)
Nice
Is this europe specific or does it also apply to other regions?
Pretty much exactly 50%
I think in Europe 70% get an extension. Us seems to be a bit less. Got mine extended. Most of the people who got cut did not show any improvements in their weaknesses. Some were also simply not a good match. You get very detailed feedback during the first year, so it shouldn't be a surprise. I was told that my contract will be extended after 8 months.
Don't have data point on swe, but of last year's Amsterdam traders, onoy half survived
Trader is a much more risky position than swe though, and their salaries are also much higher to reflect the risk and long hours. I don't have exact numbers but as a very rough estimate from my experience I'd expect something like 10-20% of swe to not get renewed after 1 year. Optiver may be more strict though as AFAIK they pay the highest TC in the Netherlands (assuming the question is about NL due to the temp 1y contract thing)
Do you have data for return intern traders?