Key Takeaways
- • Christina Qi, founder and CEO of market data platform Databento, received at least 2,000 applications for 20 remote roles she posted after last Thursday's hedge fund market turmoil, according to eFinancialCareers.
- • Qi said she sought candidates from "pod shops" and reviewed every application by hand, describing the response as "pretty average given the state of the job market these days."
- • Her team includes alumni from Citadel, Two Sigma, Tower Research, Flow Traders and SIG; applicants came from hedge funds, prop shops, fintechs, crypto firms, banks and independent trading.
- • Databento raised $97m in Series B financing in July; eFinancialCareers notes that Qi's previous hiring call drew 20,000 applications for five jobs.
- • The article frames a broader trend in which quants who left banks for hedge funds regret not joining electronic trading firms such as Jane Street and Citadel Securities, which are thought to be thriving.
Summary
Christina Qi, founder and CEO of market data platform Databento, publicly advertised 20 open positions on social media at the peak of last Thursday's hedge fund market turmoil, according to eFinancialCareers. She said she intended to fill the roles with professionals coming out of "pod shops," the multi-strategy hedge fund structures that employ many quantitative portfolio managers and traders. The roles are remote and flexible, and Qi invited applicants to be open about their work.
Qi told eFinancialCareers that at least 2,000 applicants responded, and that her team reviewed each one by hand. The applications came mostly from hedge funds and proprietary trading firms, and also from fintechs, crypto firms, banks and independent traders. Qi characterized the volume as high but in line with current conditions, calling 2,000 applications for 20 jobs "pretty average given the state of the job market these days."
Databento's team includes alumni from Citadel, Two Sigma, Tower Research, Flow Traders, SIG and other leading trading firms. The company raised $97m in Series B financing in July. Qi founded Databento in 2020. eFinancialCareers noted that the last time it spoke with her, she had received 20,000 applications for five jobs, suggesting hiring conditions may have eased somewhat.
The article sets the hiring response against a broader pattern in which quantitative portfolio managers who left banks regret joining hedge funds rather than electronic trading firms such as Jane Street and Citadel Securities, which eFinancialCareers says are thought to be thriving while hedge funds are not.
Qi told eFinancialCareers that at least 2,000 applicants responded, and that her team reviewed each one by hand. The applications came mostly from hedge funds and proprietary trading firms, and also from fintechs, crypto firms, banks and independent traders. Qi characterized the volume as high but in line with current conditions, calling 2,000 applications for 20 jobs "pretty average given the state of the job market these days."
Databento's team includes alumni from Citadel, Two Sigma, Tower Research, Flow Traders, SIG and other leading trading firms. The company raised $97m in Series B financing in July. Qi founded Databento in 2020. eFinancialCareers noted that the last time it spoke with her, she had received 20,000 applications for five jobs, suggesting hiring conditions may have eased somewhat.
The article sets the hiring response against a broader pattern in which quantitative portfolio managers who left banks regret joining hedge funds rather than electronic trading firms such as Jane Street and Citadel Securities, which eFinancialCareers says are thought to be thriving while hedge funds are not.
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