To start off- the pay was never the core issue but it is worth noting that throwing money at an exodus of people does not fix what is causing the exodus. Engineers who are passionate and treated with basic dignity; not intimidated do not need to be bought. They join and stay because they want to.
Initial red flags with this company start with the contract. Signing bonus clawbacks. Relocation cost clawbacks. Undefined notice period. A non-compete of twelve months, unpaid, that has recently been activated on multiple people who escaped to other trading firms. Read that again before you sign anything. Sig treats you are like an asset to be retained, not a person to be respected.
The management issues are well documented in other reviews. What I will add is that concerns have been raised formally with HR by multiple people, more than once. They have been noted and set aside each time. Of course it’s hrs goal to protect the company not the employees, but protecting the status quo has cost them dearly in talent lately- the best people have all left!
Stories travel fast in this industry and the change in this place has not gone unnoticed. Candidates already have an idea what disaster is going on at this place right now and recruiting gets surprised when no one wants to accept the offer or when half the people who joined in one year leave- they are losing more than they are hiring despite the recruiting department growing to twice the size recently. What a waste of money, basic human respect for the employees could have retained most of them.
For a firm built on rational decision making, the sunk cost fallacy hits different when you’re living it from the inside. People are all leaving right now, don’t join this sinking ship especially the HK and Sydney offices!
