TransMarket Group Employee Reviews about "tmg"

Updated 3 Oct 2016

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3.9
69%
Recommend to a Friend
72%
Approve of CEO
TransMarket Group CEO Doug Adams (no image)
Doug Adams
27 Ratings
Pros
  • "Team- I knew the team was smart when I joined- but I am in awe of the team TMG has put together(in 11 reviews)

  • "The traders even get taught in a course from the CEO via TMG University(in 11 reviews)

Cons
  • "Ideally there would be more communication on firmwide strategy expansion plans so the junior traders can help(in 9 reviews)

  • "Long interview process, sometimes long hours (but not like i-banking)(in 3 reviews)

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Pros & Cons are excerpts from user reviews. They are not authored by Glassdoor.

Reviews about "tmg"

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  1. "Software Development Intern"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Intern - Software Development Intern in Chicago, IL
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at TransMarket Group for less than a year

    Pros

    - Great benefits (weekly company events, catered meals, travel reimbursements) - Work environment has a startup feel to it, even though they've been around for a while - Projects have real impact on the company, and you receive responsibility from day one - You are treated with respect and they will capitalize on any skills you prove competence in, so while you may have been hired for one thing, you are able to explore several kinds of projects - The leadership wants to invest in your growth, so you are often assigned independent study on subjects that pertain to your and their interests (for example, I learned about Machine Learning in Python). The traders even get taught in a course from the CEO via TMG University - You will learn a lot about high-frequency trading and financial services

    Cons

    - The speed that decisions are made are rather slow - The company hierarchy can be very confusing, so knowing who to ask in which situation may become - Mentors may not be technical, so you really have to be a self-starter and be able to work projects to completion with minimal guidance - You will work long hours (10 hrs/day usually), so you should be really certain that you love what you're doing

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  2. Helpful (4)

    "First Year as a Junior Trader (Junior Relative Value Arb Trader)"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Junior Trader in Chicago
    Recommends
    Positive Outlook

    I have been working at TransMarket Group

    Pros

    When you first start there is an in depth classroom based training program paired up with a few trading desk mentors. From here you get to move up at your own pace- depending on how quickly you pick up concepts\modeling and how well you execute the initial working strategy they give you. This is one of the key things they do right relative to the firms my friends work at. They give you an existing model that is making money and your goal is to fine tune it\come up with new ones. Once you do- you move up. -I have a masters degree from a top institution, and I would look at the initial training program as a PhD on steroids. While it was perhaps too aggressive due to balancing courses and work, everyone learned a lot. - Meritocracy- I was able to gain responsibility quickly and was just rewarded extremely well via bonus and promotion for my work this year -Culture- Everyone shares ideas, hangs out on the weekends, and encourages eachother- it reminds me of undergrad or a varsity team. In addition to this, they really have a no Ahole rule. Most people seem to volunteer and there is a matching charity program (I am told this is the first year for it though) -Team- I knew the team was smart when I joined- but I am in awe of the team TMG has put together. This ranges from the top students from top undergrad\grad\PhD programs, to top experienced software engineers, to senior level employees who have either run their own hedge fund or been a senior level employee at top tier banks\hedge funds. There is a reason they have a collection of some of the top talent from their competitors while no one seems to leave for our competitors. They even have one of the best former PMs at Citadel ever. While he was there he was their largest PM. -There is a lot of room for expansion. They are constantly trying out new products\trades. While there is no set path on when you will become a senior trader- if you succeed you can ultimately run a huge portfolio fairly quickly. You get to explore ideas a lot (although this is mostly unstructured) -Top of the line technology and technologists -Benefits including annual ski trip (amazing bonding opportunity) and a lot of free dinners. Free meals for breakfast and lunch -Amazing growth in PNL and headcount the last 7 years (perhaps the best in the prop industry) -Our future growth plans (expansion into new products, etc)

    Cons

    - While the initial training program was fantastic, and my mentors through out the year have really helped me- I would have liked more TMG coursework through out the year. The CEO personally taught a good portion of the training program, and in a recent company email indicated this would be fixed next year - The flat structure with no set promotion cycle can be tough to stomach initially. Having said this, I am in my first 1.5 years and when I see people that have been there for 3 or more leading their own desks and are partner- I get excited - The firm seems to be understaffed for all of the projects that are in the pipeline. This doesn't make sense considering the total amount of applications they get. On the most recent ski trip I was told we get 15,000+ applications per year -Minor growing pains which can be frustrating in the short term- but it is understandable because the firm has grown by over 100 people in the past several years. -While it doesn't really matter once you are here- the other reviews are correct. The office space is not as nice as a top Hedge Fund\Ibank. Once you get past the aesthetics you should be fine. Most likely waiting for the lease to expire to get a better office -While salaries are comparable to some firms, I believe they are on the low end. All in compensation seems to be the best in the business when I talk to my friends at other firms (at least this year was- this is my first bonus) -As a junior trader about 99% of my time is spent on my trade. I would like to be able to work with other desks to brainstorm\bounce ideas. While there is nothing stopping me on this- I would like to see it enforced. On this note- I often do not have enough time to see big picture what areas the firm is growing\etc. It seems like every day we have a new trade idea getting tested. Ideally there would be more communication on firmwide strategy expansion plans so the junior traders can help. A lot of us would be willing to work more than the standard 10-11 hour work day if this was the case. -There is no formal rotation program -I put work life balance as a 2\5 but I think this is only for the first couple of years (as expected). Some people have to work Asia shift (while standard in the industry, it still sucks). There used to be a Euro shift but that has moved to their Swiss office.

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  3. "Good place to work!"

    5.0
    • Work/Life Balance
    • Career Opportunities
    • Compensation and Benefits
     
    Recommends
    Positive Outlook

    I have been working at TransMarket Group

    Pros

    Good culture. The whole team cares about me. Very fast response during my application. Upon hiring me, several people from the company I met sent me congratulation emails to me. TMG is also very flexible and accommodating. They kind of know what a newly hired person needs and take cares of me before I even ask.

    Cons

    Not observed so far. I do not have any cons to share.

  4. Helpful (2)

    "Trader Intern"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Intern - Trader Intern 
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at TransMarket Group for more than a year

    Pros

    Useful Work As an intern at TransMarket, I've worked on several projects that have been used extensively by my desk and other desks at the firm. The projects given to interns are intellectually challenging (rather than just tinkering with spreadsheets) and designed to directly contribute to the desk's strategy. Projects can vary from improving current models to developing completely new models/strategies. Generally, an intern will have one main project they work on the entirety of their summer internship, with some smaller projects that depend on the desk's trading needs. There can also be trading opportunities depending on the situation of the desk. Training The summer training program is very strong and has been refined over the past few summers. The training program includes case studies, books, homework assignments, general trading best practices, and firm models (all the tools needed to understand the business of TransMarket and their role in the markets). This past summer the training program even included a poker class. The training program is run by the CEO and some of the classes are also taught by veteran traders at the company. Another vital part of the training process at TransMarket is communicating with and observing your manager, who is usually a head trader on a desk. From my experience, the traders at TransMarket have been very open and willing to mentor and teach interns about market dynamics. Culture The culture at TMG is very team-oriented. Collaboration across desks is encouraged, improving the efficiency of the firm. I have seen several instances where multiple desks have benefited from a single project. Meals are provided by the firm, and there are several company outings throughout the year, including a ski trip. There is usually one intern event per week during the summer which full time employees also attend. Overall, all the people are nice and willing to help.

    Cons

    Nothing major. Cross-desk collaboration is something they have been improving the last couple years, and I think it will continue to benefit the firm.

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  5. Helpful (1)

    "Trading Internship"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Intern - Trader in Chicago, IL
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at TransMarket Group for less than a year

    Pros

    Training The strongest part of the internship was the 8 week training program that was primarily run by the CEO. This ran every day for all of the interns and new hires. Each intern was given 7 or 8 books to read and we were also given homework assignments. A multitude of topics were covered like understanding key terms, optimal theory on trade execution, and explanation of firm models. There were also case study lectures that were given by traders that explained specific scenarios that have occurred at the firm. Project Another key part of the internship is the project. You are assigned to one desk the entire summer, and the majority of your day will be spent improving the firm models and trading strategies. Instead of being instructed on exactly what to do, you are given free reign over the type of project that you work on. Culture Because of the team dynamic that TMG has, it is very important to foster close communication between employees. To do this, there are a ton of company events to integrate interns into the firm. During the summer, there was an event every week that the majority of the firm participated in. Because interns get to know everyone in the firm during these events, I had no reservations about asking questions to managing directors or the head of trading if I needed help.

    Cons

    I started the internship a few weeks before the start of the training sessions, so I was a little overwhelmed to start off.

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  6. Helpful (1)

    "TransMarket Group Software Engineering Internship"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Intern - Software Engineering Intern in Chicago, IL
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at TransMarket Group for less than a year

    Pros

    As an intern, I was given complete autonomy and control over the design of my projects. At the same time, my superiors were very willing and more than able to ease me in to the industry and give me help when I needed it. I significantly developed my independent design and implementation skills. TMG is a comfortable working environment; it's not a stressful place to work, but employees know when to put stress on themselves to get important tasks done. The upper management has the trust of its employees and seems to know very well what they're doing.

    Cons

    I honestly saw nothing wrong with this company. They treat their employees well and compensate fairly, and I neither had any complaints nor heard any complaints from any other employees.

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  7. Helpful (1)

    "Great Experience as Intern"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Intern - IT Intern in Chicago, IL
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at TransMarket Group for less than a year

    Pros

    Interned here during the summer and had an overwhelmingly positive experience. It was a great opportunity to learn about the industry and develop skills. Fun and intelligent coworkers, with great leadership and management, including an outstanding CIO. Really casual, but challenging workplace with no dress code and a reasonable amount of pressure that makes it feel like a start-up. Breakfast and Lunch provided daily, from some of the best places to eat in Chicago. See nothing but a bright future for this company.

    Cons

    Sitting here thinking and really struggling to come up with any cons. Don't really have anything to add here.There are no major cons at TMG.

  8. Helpful (4)

    "Junior Trader"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Junior Trader in Chicago, IL
    Recommends
    Positive Outlook

    I have been working at TransMarket Group full-time for less than a year

    Pros

    I graduated from a top financial engineering graduate program in December and started work at TransMarket Group in January. My experience so far has been overwhelmingly positive. Junior traders are handed significant responsibility soon after joining the firm. Learning is hands on and takes place on the desk directly from top traders. I interned for a major investment bank over the summer and this place blows it away. The casual environment makes TMG feel much more like a Silicon Valley start-up than a stuffy corporate workplace. The structure is flat and the sky is the limit. If you are hungry, analytical, and fascinated by trading and financial markets, then TransMarket Group is the place for you.

    Cons

    I can't think of any major cons. You start out working Asian or European hours but the markets are typically slower and so it's the perfect time to learn. Traders work 50+ hours/week but if you aren't willing to work hard then you are in the wrong industry.

  9. Helpful (1)

    "Junior Quantitative Trader"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Junior Quantitative Trader in Chicago, IL
    Recommends
    Positive Outlook

    I have been working at TransMarket Group full-time for more than a year

    Pros

    I joined TMG right after I obtained my PhD degree in mathematics. I really enjoyed the team-based culture and competitive and challenging working environment. I did learn a lot of trading experience which is far more than I expected. It's like everyday I will learn something new both in terms of trading and modeling, very excited. I feel really lucky to choose this job rather than a pure quant job in banks or other firms. The company also organizes many AWESOME events where everyone can really get involved and enjoy. As a foreigner, it helps me a lot to learn and get involved into the American culture. As far as the pay structure, the starting base salary is relatively low compared with many other firms, especially compared with pure quant job. But bonus could be HUGE, where you will find at the end of the year, your base salary is only a small part of your total compensation. You will get a fair amount of what you contribute to the company. I like this structure since it always motivate me to work hard and improve since I can see positive result quickly.

    Cons

    have nothing to mention really

  10. Helpful (1)

    "Junior Trader"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Junior Trader in Chicago, IL
    Recommends
    Positive Outlook

    I have been working at TransMarket Group full-time for less than a year

    Pros

    I find the environment very casual and easy to work in: (very) casual dressing, ping pong table on the floor, young employees, food is paid by the company and delivered on the floor. Everyone is pretty laid back. There are also a few social events organized and paid by the company (3d ski trip in Colorado, Restaurants, GoKart...etc). Everything is done to have the employees working in the best conditions. TMG is all about merit though: what you get out from that company is what you put in. Employees start trading very quickly and get granted more responsibilities if they perform well. This is a very flat organization where all that really matters is performance (fixed salary is fairly low - 50-60k for a junior tarder, but the bonus can be very high - several hundred thousands after 1-2y of exp)

    Cons

    - flat organization so being promoted roughly only means that you get the opportunity of working on a larger desk. It's not like a big bank where you can maybe more easily start a career and work there all your life. - It is possible to work overnight for up to 2 years when you start as a junior trader (Asian or European shift)

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