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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”.

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”.