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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

by 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.

by nly 4y ago

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.