Insider Finance - Business - Wall Street: A Citadel engineer’s rise

The latest in finance.
View in browser
INSIDER
Subscribe

10 THINGS ON WALL STREET

Hey there! Dan DeFrancesco in NYC. NASA claims this place is where sound goes to die, but I bet my toddler could give it a run for its money. 

I need your help! I'm collecting questions for a future mailbag that will run on May 26. If you missed the last one, check it out here. So submit any questions you have via this Google Doc. (Don't worry; it's anonymous.) Just no personal finance questions. You wouldn't want advice from me anyway. 

Also, I'll be chatting with my colleague Hayley Cuccinello on LinkedIn about all the creative ways the ultra-rich save on taxes. If you're around at 12:00 pm EST today, check it out here.

Today, we've got stories on when to call it quits on investment banking, Andreessen Horowitz' new strategy for sussing out early-stage startups, and how to work two full-time jobs without getting caught. 

But first, can I give you a tip?


If this was forwarded to you, sign up here. Download Insider's app here.


job success during recession pandemic 4x3

1. The secret of my success.

I've got some career advice for you from an unlikely source. 

At first glance, Kristofer Baxter doesn't seem like an ideal candidate for offering tips about succeeding on Wall Street. Baxter has only been at Ken Griffin's Citadel for a little over a year. He spent the majority of his career at companies like Netflix, LinkedIn, and Google. 

He also exists in a world that's different from traditional roles in finance. Baxter leads the hedge fund's user-interface team, Citadel X, which you can read more about here.

But it's for all those reasons why Baxter is exactly the type of person you should be listening to. His outside perspective offers a unique look at what it takes to find success on the Street.

Baxter spoke to Insider's Bianca Chan about the seven key lessons he's learned throughout his career that have proved vital at Citadel.

I found much of Baxter's advice applicable to my own job, despite us working in very different fields. Too often, people explaining how they found success on Wall Street, or anywhere, amounts to them bragging about how hard they worked.

They also, conveniently, typically omit relevant details about what really led to their success. (Did you get that job because of your ability to network or because one of your parents has a standing tee time with an MD at the firm?)

Baxter's tips, meanwhile, are less LinkedIn fodder and more actionable steps all of us could apply to our day-to-day gigs.

Read more on key lessons from a top engineer at Citadel about finding success.


In other news:

chicago

2. Life after Goldman. Chris Hladczuk spent only one year as an investment banker at Goldman Sachs before he decided to quit for a job at a startup. He explains how he knew it was the right decision.

3. Andreessen Horowitz is letting early-stage VCs do the hard work for it. The famous VC firm is going to launch a fund of funds for backing other VCs focused on finding early-stage startups. More on the plans here.

4. CME Group considers life outside Chicago. Terry Duffy, CME Group's CEO, told Bloomberg that the exchange operator could leave the Windy City "if we had to." The main issue? The potential for more taxes, of course. Here's what has got Duffy so upset.

5. If you're making six-figures, do you feel like you've "made it?" If you're in NYC, probably not. We asked five young people who have an annual salary above $100,000 how they spend their money and if they feel comfortable. Some of the answers might surprise you.

6. Tiger Global's big bet on the private market continues to sour. The firm, which pushed heavily into startups during the pandemic, is now looking to offload some of its $40 billion portfolio in the space, the Financial Times reports. For more on how Tiger Global's aggressive approach to venture investing backfired, click here.

7. TPG scoops up Angelo Gordon. One way to end the dealmaking drought: Start buying up fellow investment firms. More on the $2.7 billion deal here.

8. What happens when all these boomers retire? The departure of the older generation from the workforce could create a labor shortage that will last for decades, Insider's Aki Ito writes. That's a good thing for the rest of us.

9. From side hustle to second gig. This 22-year-old earns $144,000 working two full-time remote jobs. (Hmm, maybe Jamie Dimon did have a point.) Here's how he gets away with it.

10. A tropical vacation that doesn't require a passport. Forgot to get your passport renewed? Never got around to getting one? Fear not. Visit these eight islands without having to wait on the paperwork. Check them out.


Curated by Dan DeFrancesco in New York. Feedback or tips? Email ddefrancesco@insider.com, tweet @dandefrancesco, or connect on LinkedIn. Edited by Jeffrey Cane (tweet @jeffrey_cane) in New York and Hallam Bullock (tweet @hallam_bullock) in London. 

 

Key phrases

Older messages

Get ready for a labor shortage

Monday, May 15, 2023

Plus: Vice files for bankruptcy, and the Clarence Thomas problem. View in browser Subscribe May 15, 2023 Hello, Insiders. This is Hallam Bullock, an editor on Insider's audience team — and I've

Wall Street: Who fills Larry Fink’s shoes?

Monday, May 15, 2023

The latest in finance. View in browser INSIDER INSIDER Subscribe 10 THINGS ON WALL STREET Welcome back! Dan DeFrancesco in NYC, but I might need to get on the road soon to check out the best breweries

The metaverse is dead

Sunday, May 14, 2023

Plus: BlackRock succession plans, and Microsoft leaked emails. View in browser Subscribe May 14, 2023 Hi, I'm Matt Turner, the editor in chief of business at Insider. Welcome back to Insider

Musk upends NBCUniversal

Saturday, May 13, 2023

Plus: Redditors talk $100K jobs, and Russian tycoon superyacht. View in browser Subscribe May 13, 2023 Hello, Insiders. Before we begin: It's Mother's Day tomorrow in the US and Canada. If you

Elon Musk leaves us hanging

Friday, May 12, 2023

Plus: ChatGPT is my personal trainer, and best spots for jobs. View in browser Subscribe May 12, 2023 Hello, Insiders. Shona Ghosh, UK deputy executive editor, here. Elon Musk says he's found a new

You Might Also Like

The Simple Solution Worth Billions to Walmart and Amazon

Thursday, March 28, 2024

The following is a third-party sponsored message. It should not be considered a recommendation or endorsement by HS Dent Publishing. Dear Investor, In warfighting, there's a saying: "Amateurs

Markup matters: monetary policy works through aspirations

Thursday, March 28, 2024

Tim Willems and Rick van der Ploeg Since the post-Covid rise in inflation has been accompanied by strong wage growth, interactions between wage and price-setters, each wishing to attain a certain

🇯🇵 Japan's latest low

Wednesday, March 27, 2024

Visa and Mastercard cut merchants some slack | Japan's yen hit a 30-year low against the US dollar | Finimize TOGETHER WITH Hi Reader, here's what you need to know for March 28th in 3:14

‘Out of the blue’ correction

Wednesday, March 27, 2024

Bloomberg Evening Briefing View in browser Bloomberg With a number of market watchers warning of a bubble, traders are increasingly on the lookout for signs of the cliff's edge. But if you ask

🗺️ Your guide to a finance mega-trend

Wednesday, March 27, 2024

Plus, “money dysmorphia” and how to choose between a 401(k) and IRA. ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌ 

How to keep your crypto gains more secured

Wednesday, March 27, 2024

Don't risk losing your savings to hackers. ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌

Issue #231: Why some people don’t have bank accounts

Wednesday, March 27, 2024

plus speed puzzling + the quad God ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌

Harry's Take 3-27-24 Expecting a Deeper Recession

Wednesday, March 27, 2024

image Harry's Take March 27, 2024 Each Recession Since 1990 Has Been Deeper The 1990 recession was small and shallow. The great Baby Boom economic explosion began in 1983, anticipated by the 1982

Another reason to care about investment taxes

Wednesday, March 27, 2024

Alex Kontoghiorghes Do lower taxes lead to higher stock prices? Do companies consider tax rates when deciding on their dividend pay-outs and whether to issue new capital? If you're thinking '

👀 Tesla's latest buddy

Tuesday, March 26, 2024

Cocoa future prices just broke their own record | The world's biggest EV battery maker chatted up Tesla | Finimize TOGETHER WITH Hi Reader, here's what you need to know for March 27th in 3:14