3 ms·

What's the upper salary cap for HFT engineers. I'm talking cash , not stock. From what I've seen above 200k is exceptionally rare.

kyawzazaw 6y ago
I am pretty certain TC for new grads usually go beyond that.
colinmhayes 6y ago
If you're at a top firm like citadel you'll start at around 250.
- offtop5 6y ago
  What about an experienced dev in the Fintech space ?
lizhang 6y ago
200k salary, 100% bonus is not uncommon in NYC
smabie 6y ago
I work in HFT and base comp is pretty much irrelevant. In fact at the firm I work at, every single employee gets the same base salary (low 6 figures). Not that's not important: everyone makes way more money through their part of profits depending on their equity and their amount invested in the fund. Total cash compensation easily gets above 400-500k. People probably make less money at large firms, tho.
- offtop5 6y ago
  Thanks for the tip ! . I'm eyeing an early retirement, so I'd like to live off 100k and save the rest. Would you consider your job high stress ?
  - smabie 6y ago
    It's stressful in the sense that the amount you earn is a linear function on the performance of the strategy. Unlike at other firms, bonus isn't discretionary: its a pure function of strategy performance. When the company loses money, you lose money. This incentivizes everyone to work together and solve problems. Also working with some of the smartest people in the industry can be intimidating: if you're used to being the smartest guy in the room, it's very unlikely you will be anymore at a top notch firm. This is a form of stress in itself. It's not stressful in the sense of shitty clueless bosses, long unpaid hours (people work long hours, but that work is often highly compensated for through pnl improvements). Everyone I know feels extremely lucky that by just putting our heads together, we can mint money out of thin air. I don't think anyone I work with would rather be doing anything else. Trying to make money out of nothing certainly humbles you, but when something works, its the best feeling in the world. Keep in mind that things might be different at a larger firm: lower compensation and upside, more hierarchy, etc.
    - offtop5 6y ago
      So for my last question, did you have to know someone to get into this field. I'm in fintech right now, and I'm well compensated, I love my job but if I can reach the Pinnacle programming, IE pulling 400 or 500k a year. That would be simply awesome. Would it be easier to target bigger firms and then get into or start my own firm ?
      - smabie 6y ago
        I don't think you have to know someone. Moreover, if all you're looking for is a straight up dev role (vs quant research or trading), I don't think it'll be that hard. Not sure if you'll pull in 400 or 500k, but if you're good, you should do pretty well for yourself. Just apply for roles, if you're a good dev, I don't think you should have trouble landing interviews.
      - hchz 6y ago
        I think it’s easier to hit that level in FAANG due to the number of opportunities and less elitist hiring practices. I do a lot of intern interviews and I haven’t seen a single non-target resume, or someone without FAANG internships, high placement in global hackathons, math olympiads, etc. Experience is a way in but it depends what “fintech”.

kyawzazaw 6y ago

I am pretty certain TC for new grads usually go beyond that.

colinmhayes 6y ago

If you're at a top firm like citadel you'll start at around 250.

offtop5 6y ago
What about an experienced dev in the Fintech space ?

lizhang 6y ago

200k salary, 100% bonus is not uncommon in NYC

smabie 6y ago

I work in HFT and base comp is pretty much irrelevant. In fact at the firm I work at, every single employee gets the same base salary (low 6 figures). Not that's not important: everyone makes way more money through their part of profits depending on their equity and their amount invested in the fund. Total cash compensation easily gets above 400-500k. People probably make less money at large firms, tho.

offtop5 6y ago
Thanks for the tip ! . I'm eyeing an early retirement, so I'd like to live off 100k and save the rest. Would you consider your job high stress ?
- smabie 6y ago
  It's stressful in the sense that the amount you earn is a linear function on the performance of the strategy. Unlike at other firms, bonus isn't discretionary: its a pure function of strategy performance. When the company loses money, you lose money. This incentivizes everyone to work together and solve problems. Also working with some of the smartest people in the industry can be intimidating: if you're used to being the smartest guy in the room, it's very unlikely you will be anymore at a top notch firm. This is a form of stress in itself. It's not stressful in the sense of shitty clueless bosses, long unpaid hours (people work long hours, but that work is often highly compensated for through pnl improvements). Everyone I know feels extremely lucky that by just putting our heads together, we can mint money out of thin air. I don't think anyone I work with would rather be doing anything else. Trying to make money out of nothing certainly humbles you, but when something works, its the best feeling in the world. Keep in mind that things might be different at a larger firm: lower compensation and upside, more hierarchy, etc.
  - offtop5 6y ago
    So for my last question, did you have to know someone to get into this field. I'm in fintech right now, and I'm well compensated, I love my job but if I can reach the Pinnacle programming, IE pulling 400 or 500k a year. That would be simply awesome. Would it be easier to target bigger firms and then get into or start my own firm ?
    - smabie 6y ago
      I don't think you have to know someone. Moreover, if all you're looking for is a straight up dev role (vs quant research or trading), I don't think it'll be that hard. Not sure if you'll pull in 400 or 500k, but if you're good, you should do pretty well for yourself. Just apply for roles, if you're a good dev, I don't think you should have trouble landing interviews.
    - hchz 6y ago
      I think it’s easier to hit that level in FAANG due to the number of opportunities and less elitist hiring practices. I do a lot of intern interviews and I haven’t seen a single non-target resume, or someone without FAANG internships, high placement in global hackathons, math olympiads, etc. Experience is a way in but it depends what “fintech”.