4 ms·

Engineer with 6 years of experience gets 7 offers and 800k annual comp

29 points by crhulls 4y ago

panny 4y ago
>Nameless engineer receives big offer! Source: Trust me bro. Seems like an ad by the FAANG HR depts to me. >@TeamBlind, career counseling Oh, exactly that.
crhulls 4y ago
A) is this real? B) if it is, will it still happen during this crash?
- NonEUCitizen 4y ago
  (A) Only the base is real, given (B)
- ilrwbwrkhv 4y ago
  There is no crash. In fact companies which are actually proper businesses will get more VC funding since the funds have to go somewhere. The crash is mostly in vaporware like Uber and Bolt.
  - ljw1001 4y ago
    Lol. The same money funds uber and proper businesses. They expect to get rich returns on nonsense. When they don’t, they don’t much feel like playing so they take their ball and go home.
    - ilrwbwrkhv 4y ago
      There is a lot of overlap for sure. But what I am seeing right now is that the money is still there, just being directed towards actual businesses.
EddieDante 4y ago
More power to them, whoever they are.
blinded 4y ago
super lucrative if the market recovers wrt stock.
nly 4y ago
For a code monkey role (no quant experience) the quant firm bonus looks over the top. Good cash bonuses are usually 50-100% of base, not 280%. He's probably in for a shock when bonus time comes next year. Either that or it's a trendy crypto firm and they'll be dead in 18 months. Personally I would have gone with Stripe.
- sytelus 4y ago
  Quant cash bonuses are highly conditional and would rarely materialize at the quoted max possible levels. If they do at all, party don't last very long. OP is aggressive husler but his greedy optimization strategy isn't going to take him too far.
- 22c 4y ago
  I also have to wonder if the cash bonus is recession proof. Inflation aside, aren't bonuses not a guarantee? Most places I've worked, bonus systems rely on meeting some certain goal. In my experience, if the company isn't doing well, they will essentially make it difficult or impossible to get your bonus (eg. put a 25% growth in share price in as a condition of full bonus or something).
- boshalfoshal 4y ago
  You haven't seen a firm like Jane Street, Citadel/CitSec, HRT, Optiver, Jump, IMC, and so many more. Quant firms aren't just hedge funds anymore, they can also refer to market makers whose primary edge is not just models and traders, but fast and scalable software. At a top tier firm like JS CitSec or HRT, cash bonuses _start_ at 60-100% of your base, even for SWE. In really good years by the time the end of the year rolls around, you can expect 100% to 300% of your base in bonus. This was especially true in 2020 and 2021. I can personally attest to this since I was working at a top tier MM during those years. This post's "bonus" might also be including the signing bonus with recurring perf bonus. Typically, these firms offer sign-ons but OP did not seem to indicate that. Even with this in mind, I would expect with 6yoe your expected first year bonus would be at least 100% of base at a legitimate firm. And quite frankly, given the volatility we have had this year I would expect market making firms to make a killing. Wouldn't be surprised if market making firms post a PnL that rivals 2020 and 2021 and bonuses reach that 200% mark.
fatjokes 4y ago
Guesses on the quant firm? Jane St?
- boshalfoshal 4y ago
  Based on OP's description of the interview process, I would guess so. I don't think many firms just ask "leetcode + sys design similar to FAANG interviews" besides maybe 2sigma and Jane st. I would expect to see C++ trivia, OS, or networking questions if it were at other firms but if OP isn't in some low latency/front office role places might not ask that.
cvccvroomvroom 4y ago
Not unusual. Look at tech management pay, 7-digits typically.
- sytelus 4y ago
  There is always someone making shit ton of money but that doesn't make things "not unusual". In a typical mature big tech, I would say less than 5% of employees ever cross 7-digit mark. Often that requires massive hustling for years, personal health+family sacrifices and extraordinary amount of politics and betrayals to many colleagues. Some people are just wired for this and crossing 7-digit barrier is the most important thing in their life to be achieved at any cost. In my experience, there are many better joys to have in life than this hustle.
  - cvccvroomvroom 4y ago
    It takes money (UHNWI earners) in this world (the US) to have joys, or enjoy perpetual, miserable wage slavery. Make $10-20M and mostly retire or work for fun. I can't see thriving on less than $225k. It takes $500k-$1M to get there. MAANG+M management is good place to be.
- ljw1001 4y ago
  If by mgmt you mean ceo adjacent, sure
deleted 4y ago
[deleted]
redmen 4y ago
Fake
- digianarchist 4y ago
  It’s worth taking everything on Blind with a pinch of salt but what makes you so sure that it’s fake?
JaceLightning 4y ago
I have doubts these numbers are real. As someone who works for one of these companies and has seen the averages, these numbers seem way high.

29 points by crhulls 4y ago

>Nameless engineer receives big offer! Source: Trust me bro. Seems like an ad by the FAANG HR depts to me. >@TeamBlind, career counseling Oh, exactly that.

crhulls 4y ago

A) is this real? B) if it is, will it still happen during this crash?

NonEUCitizen 4y ago
(A) Only the base is real, given (B)
ilrwbwrkhv 4y ago
There is no crash. In fact companies which are actually proper businesses will get more VC funding since the funds have to go somewhere. The crash is mostly in vaporware like Uber and Bolt.
- ljw1001 4y ago
  Lol. The same money funds uber and proper businesses. They expect to get rich returns on nonsense. When they don’t, they don’t much feel like playing so they take their ball and go home.
  - ilrwbwrkhv 4y ago
    There is a lot of overlap for sure. But what I am seeing right now is that the money is still there, just being directed towards actual businesses.

EddieDante 4y ago

More power to them, whoever they are.

blinded 4y ago

super lucrative if the market recovers wrt stock.

nly 4y ago

For a code monkey role (no quant experience) the quant firm bonus looks over the top. Good cash bonuses are usually 50-100% of base, not 280%. He's probably in for a shock when bonus time comes next year. Either that or it's a trendy crypto firm and they'll be dead in 18 months. Personally I would have gone with Stripe.

sytelus 4y ago
Quant cash bonuses are highly conditional and would rarely materialize at the quoted max possible levels. If they do at all, party don't last very long. OP is aggressive husler but his greedy optimization strategy isn't going to take him too far.
22c 4y ago
I also have to wonder if the cash bonus is recession proof. Inflation aside, aren't bonuses not a guarantee? Most places I've worked, bonus systems rely on meeting some certain goal. In my experience, if the company isn't doing well, they will essentially make it difficult or impossible to get your bonus (eg. put a 25% growth in share price in as a condition of full bonus or something).
boshalfoshal 4y ago
You haven't seen a firm like Jane Street, Citadel/CitSec, HRT, Optiver, Jump, IMC, and so many more. Quant firms aren't just hedge funds anymore, they can also refer to market makers whose primary edge is not just models and traders, but fast and scalable software. At a top tier firm like JS CitSec or HRT, cash bonuses _start_ at 60-100% of your base, even for SWE. In really good years by the time the end of the year rolls around, you can expect 100% to 300% of your base in bonus. This was especially true in 2020 and 2021. I can personally attest to this since I was working at a top tier MM during those years. This post's "bonus" might also be including the signing bonus with recurring perf bonus. Typically, these firms offer sign-ons but OP did not seem to indicate that. Even with this in mind, I would expect with 6yoe your expected first year bonus would be at least 100% of base at a legitimate firm. And quite frankly, given the volatility we have had this year I would expect market making firms to make a killing. Wouldn't be surprised if market making firms post a PnL that rivals 2020 and 2021 and bonuses reach that 200% mark.

fatjokes 4y ago

Guesses on the quant firm? Jane St?

boshalfoshal 4y ago
Based on OP's description of the interview process, I would guess so. I don't think many firms just ask "leetcode + sys design similar to FAANG interviews" besides maybe 2sigma and Jane st. I would expect to see C++ trivia, OS, or networking questions if it were at other firms but if OP isn't in some low latency/front office role places might not ask that.

cvccvroomvroom 4y ago

Not unusual. Look at tech management pay, 7-digits typically.

sytelus 4y ago
There is always someone making shit ton of money but that doesn't make things "not unusual". In a typical mature big tech, I would say less than 5% of employees ever cross 7-digit mark. Often that requires massive hustling for years, personal health+family sacrifices and extraordinary amount of politics and betrayals to many colleagues. Some people are just wired for this and crossing 7-digit barrier is the most important thing in their life to be achieved at any cost. In my experience, there are many better joys to have in life than this hustle.
- cvccvroomvroom 4y ago
  It takes money (UHNWI earners) in this world (the US) to have joys, or enjoy perpetual, miserable wage slavery. Make $10-20M and mostly retire or work for fun. I can't see thriving on less than $225k. It takes $500k-$1M to get there. MAANG+M management is good place to be.
ljw1001 4y ago
If by mgmt you mean ceo adjacent, sure

deleted 4y ago

[deleted]

redmen 4y ago

Fake

digianarchist 4y ago
It’s worth taking everything on Blind with a pinch of salt but what makes you so sure that it’s fake?

JaceLightning 4y ago

I have doubts these numbers are real. As someone who works for one of these companies and has seen the averages, these numbers seem way high.