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You can tell someone worked on the old wallstreet when they jump to explain that engineers are not a part of the core finance business. I've seen this trope a m
by logicslave 6y ago
You can tell someone worked on the old wallstreet when they jump to explain that engineers are not a part of the core finance business. I've seen this trope a million times, and it used to be true. In 2020, the hedge funds making the most money are the ones treating their technology people like they treat their investment people. They interact, receive similar (though not 2M+) pay, and the programmer often has a part in analyzing the data and building the libraries to push the research forwards.
- maest 6y agoYou're basing your assumptions on very little information. In particular, my position was with a buy-side fund set up in the last 5-10 years. It was definitely not "old wallstreet".
- logicslave 6y agoI worked at a well known hft prop trading firm, and then at an asset manager. The asset manager was staffed by mostly ex two sigma software engineers, a few from tower research. You basically cant even get an interview there unless you already worked with someone working there. A regular engineer there, a few years of experience made around 650k. I know the industry extremely well, and I know your type. I've watched so many buy side firms fall to the wayside because "good tech doesnt help investing, I will hire the humanities degree from princeton instead". Meanwhile, run through the top returning firms in the last decade, they all also happen to be the firms that pay their engineers the most.