In the past two years, the rapid development of domestic quantitative investment, numerous quantitative private placement springing up like bamboo shoots after a spring rain, the competition of quantitative private placement has also entered the stage of intense heat, and talents have become the inevitable place for all parties in this stage.
The general manager of quantitative private placement in southern China told China Securities News: this year is a big year of quantification, and many quantitative organizations are recruiting people on a large scale. We have interviewed at least hundreds of candidates this year, which are pushed by headhunters. At present, we have cooperation with the top quantitative headhunters in the mainland and Hong Kong. Every time they successfully recommend a person, we have to pay 25% of the annual salary of that person as the headhunting fee.
High headhunting fee
China Securities News reporter learned from a private headhunter that 25% of a candidates fixed annual salary is the industry average. According to this level of calculation, if all the above-mentioned quantitative private placement in Shanghai is successfully recruited, the headhunting fee will also cost millions of yuan a year.
The fierce competition makes the investment in human resources of quantitative private placement is very high. According to the investment director, quantitative private placement has the largest investment in human resources. From the companys input cost, the labor cost accounts for 50% of the total cost. In addition, the calculation power and data account for 30% and 20% of the total cost respectively.
Although talents are scarce, many institutions hold the attitude of prefer shortage to overuse. According to a quantitative private placement personage, the alpha strategy recruits employed by the company in recent year have a elimination rate of up to 40%. If the strategy fails to make profits within 12 months, it will be eliminated.
The competition of quantitative private placement is becoming increasingly fierce, from the competition of data and strategy in the early stage to the competition of computing power, and now to the all-round competition of talents and operation.
There are two kinds of organizational structure of quantitative investment institutions: one is a positive pyramid structure, which highlights core fund managers. Other researchers provide ammunition for fund managers and provide factors and strategies, which are ultimately centralized by fund managers. The other is the inverted pyramid structure, in which the whole process of quantitative investment is like an assembly line, and some people are negative It is responsible for mining factors. Some people do artificial intelligence system to integrate factors, some people do trading system, and others are responsible for trading algorithm, signal fusion, risk control, etc. to form a production chain. What the investment director has to do is to let the right person hold the right position.
In order to retain talents, various institutions have also used 18 kinds of martial arts. We have interviewed a lot of candidates this year, but we are still cautious in finalizing it because we hope to design a good career for every employee, let them grow, and help them achieve financial freedom as much as possible, said the former quantitative private partner
Source: Ren Hui, editor in charge of China Securities Journal_ NBJ9607