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Quote: "many top hedge funds and trading shops came to NIPS to run career booths, but there was a surprising lack of interest from attendees compared to the lik
by jostmey 10y ago
Quote: "many top hedge funds and trading shops came to NIPS to run career booths, but there was a surprising lack of interest from attendees compared to the likes of Apple, Facebook, Deepmind, Google, etc."
Maybe Apple, Facebook, and Google think they can develop their talent in house from their programmers?
- cscurmudgeon 10y agoGoogle/MSFT/Baidu/Yahoo have a heavy presence at IJCAI. http://ijcai-16.org/index.php/welcome/view/sponsors http://ijcai-16.org/index.php/welcome/view/sponsors And at ICML http://icml.cc/2016/?page_id=63 http://icml.cc/2016/?page_id=63 Have been to Google booths at IJCAI and got selected for interviewing based on my interaction at the booths.
- deepnotderp 10y agoNo that quote is just wrong, the big four were there heavily, and literally no one cared about the financial institution's booths.
- ericjang 10y agoSorry, that was what I meant to say. My wording was confusing
- ericjang 10y ago(I've edited my blog post to clarify this)
- deepnotderp 10y agoNo worries, typos happen :) Love your blog btw, especially the gumbel-softmax explainer! Keep it up :)
- eanzenberg 10y agoDunno why that's surprising to the author. Those tech companies will pay for a good data scientist about 2x what a hedge fund would pay the same person initially. Hedge funds and finance company pay will increase more over time though, once they have a good track record.
- argonaut 10y agoHedge funds and quant finance pays way way way more than Google/Facebook/etc. To whatever extent they have trouble attracting researchers it's because you will never be able to publish anything or talk about your work in a finance firm. Academia is status/reputation/ego driven (not that there's anything wrong with this).
- Teodolfo 10y agoHow much do they pay? And how is the pay structured?
- argonaut 10y agoIt is heavily bonus centric. In theory it is unlimited, based on how much you make the firm, which is why you could theoretically make millions any given year (rare). My friends in quant finance made more than 200k guaranteed their first years (not including performance bonus), and they did not have graduate degrees. It went up to more than half a million in a few years (including bonus).
- eanzenberg 10y agoAre they in more research oriented roles? A basic good Quant Analyst at Google or Data Scientist, Analytics at Facebook will easily clear 200k but these aren't machine learning research experts.
- argonaut 10y agoAre those masters/PhD's? My data points were people with no graduate degrees. The ramp up and ceiling is much higher in finance. First year salary for someone with a bachelors in a finance company may be comparable to someone with a masters/PhD in a tech company, sure.
- js4 10y agoIt's worth noting that it was the research groups of the big four that showed up to NipS --Google Brain, deepmind, Microsoft research, etc. Publishing isn't the focus of hedge funds so they don't get a lot of love. It makes sense that academics would be interested in working for a company that will still allow the academic to publish.