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A good place to start in finance, but don't stay

Software Engineer
Current Employee
Has worked at Squarepoint Capital for 2 years
November 27, 2021
London, United Kingdom
2.0
Doesn't RecommendNeutral Outlook
Pros

Speaking as someone who was in the Technology side:

  • SquarePoint hires a lot of post-graduate developers, it's a really nice entrance to Finance and Electronic trading.
  • (This hugely depends on the team you are in) You would get involved immediately by doing tickets, this gives you the opportunity to learn from practice.
  • A lot of offices and a company growing fast. The company is making a name for itself (Although now not for the good reasons).
  • The only company that I know of that would contribute 10% to your pension.
Cons

Squarepoint used to be a very nice company that had many good advantages while expanding, however it got very bad during the Covid period. I wouldn't recommend to anyone that isn't a Junior. If I had to sum-up the biggest negative points:

  • Working 50 hours a week during first lockdown.
  • Squarepoint decided that the second wave (September 2020 and onward) of Covid that the lockdown "didn't applied" to them and began constantly harassing their employees to come to the office 4 days a week. A lot of people felt uncomfortable to ask personal "exemption" to this new policy. Middle-management strangely didn't step into the office for another half-year.
  • The period of bonus and raise after Covid was terrible all-across the board. Some people even got close to nothing while this year was the second best of the company.
  • Middle-management seems to have issues with reporting to upper-management (I'm saying seems because some people are very good at it! And I hope you'll get to work with them). The solution from the upper-management was to enforce more engineers/middle-management meetings, which was just you and your manager reading the same 5 bullet-points quarterly.
  • Progression internally is very difficult if there is no specific opening. I personally wasn't looking for it.
  • Squarepoint salaries, bonuses, and benefits are not competitive anymore. They are desperately trying to hire people to make up for all the people that left after Covid (reasons I explained above). If you wish to try a finance company/enjoy the pay bump for your career, go for it, but don't expect to stick in Squarepoint.
Advice to Management

To upper-management:

Share some of your profits with your lowest echelon. It's not normal to get raised lower than inflation while working on critical components.

Some middle-managers are knowingly ignoring your guidelines to make up more achievements in their team, and sometimes take the merits for themselves.

Additional Ratings

Work/Life Balance
2.0
Culture and Values
2.0
Diversity, Equity, and Inclusion
4.0
Career Opportunities
1.0
Compensation and Benefits
2.0
Senior Management
3.0

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Squarepoint Capital Interview Experiences