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My experience in quant finance is that strong engineering teams are viewed as cost centers and are not well compensated the way they are at “real” tech companie
by blobbers 4y ago
My experience in quant finance is that strong engineering teams are viewed as cost centers and are not well compensated the way they are at “real” tech companies, especially when the firm isn’t doing well. Management foolishly tends to only value seeking alpha, rather than reliability of existing alpha.
Unsurprisingly poor management tends not to realize when their software is built on a house of cards.
Definitely saw bugs cause large losses (8 digit numbers).
- smabie 4y agoFeel like this way more of the case in the past than it is now. Engineers at top prop shops today are compensated more much generously than at all but the most senior engineers at a FAANG. For example, word is that new grad hires at Jane Street are getting first year guarantees at around the 450k range, which is much higher than an entry level engineer at a FAANG would make. Culturally, there's some truth in what you say though I think: alpha generators are probably more respected and are pulling more TC in good years.