QuoteOriginally posted by: farmerPerhaps Simons makes his money by avoiding the Wall-Street bonus culture. He hires only researchers from academics and low-salary scientific backgrounds. When certain strategies have very profitable runs, these types of employees have no sense of entitlement to the returns. So he is able to lever up and dial in whatever is working with double the returns and half the risk of city firms, because he isn't splitting the profits with anyone. He buys pizza for the whole office at lunch, knows the name of everyone's dogs and daughters, and everyone is happy.The employees are well paid because they are comparing their pay to NASA salaries, not to the amount of money their research is generating. $400,000 is a lot in a year, unless of course your work produces a few million or more. Some types of employees go after their share, some don't. You hire the ones that don't, your returns will be incredible.The researchers are paid OK, compared to elsewhere on Wall Street, no need to worry about them. The place is run more like a kolkhoz, to make a change in a strategy (unless it's a bad bug), the researcher has to make a presentation to everybody else in research group, explaining it.
Last edited by Positron
on June 30th, 2013, 10:00 pm, edited 1 time in total.