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Why pay more than market rate of a replaceable ML person? Is there any realistic path for a demonstrably smart and hardworking person into that 7+zeros club?
by asjre34marakf 4y ago
Why pay more than market rate of a replaceable ML person?
Is there any realistic path for a demonstrably smart and hardworking person into that 7+zeros club? Evidence suggests no: leetcode grinders and FAANGers are not in that club, and most of them will never even make it into the 6+zeros club. Net wealth -- sure, but not income.
- 22SAS 4y agoIt's all about making $$ for the firm. If the strategies developed are very profitable then 7-figures is definitely reachable for the researchers at a prop trading firm.
- renewiltord 4y ago7 figs is 6 zeroes in his lingo, right? My man is looking for 8 figures.
- 4jsfgja5aj 4y agoYes, exactly, and nomenclature borrowed from the parent. (This is another throwaway, and I am responding.) > > "...all about making $$ for the firm. If the strategies developed..." The topic here is on offers to new hires -- not value delivered after time and work invested. Offers at market rate -- even in the FAANG world -- are not at 7 figures (6 zeros), definitely not at 10x that, and certainly not before the new employee has done anything worthwhile for the firm. There are individuals who do get such offers, but they are rare, they have done remarkable things previously, and they have a reputation they can bring to any conversation about compensation. Their market is not representative.
- 22SAS 4y agoI am sorry, I misread it as getting to those numbers as an employee at a trading firm rather than as an applicant. I agree with you. The very, very rare cases where this has happened is for people with exceptional records elsewhere, and many times they are joining new places as partners rather than a regular employee.