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> Maybe that reputation has caught up to them. It did. Comp is nowhere near FAANG and the work culture is still stuck in the 90's. Go to any college and talk

> Maybe that reputation has caught up to them. It did. Comp is nowhere near FAANG and the work culture is still stuck in the 90's. Go to any college and talk to students looking for internships. Finance firms are nowhere near the top of their list.

joezydeco 4y ago
Curious - what's at the top of their list now? Do they still want FAANG jobs after all the layoffs?
- andsoitis 4y ago
  I don’t think layoffs change people’s desire to work at a top hi-tech company.
- boshalfoshal 4y ago
  I'd say HFT/prop trading/market making/hedge funds, since those are the only places that are hiring right now and pay good money. The usual destinations for smart and motivated new grads are (not counting very early startups/making your own company): 1. Top tier HFT/prop firm (Jane Street, HRT, Jump, etc.) 2. Meta, larger unicorns like Stripe, Databricks, etc. 3. Google 4. Amazon, Microsoft, etc. Obviously im leaving out a lot of places but this is generally what I've seen. Id say for most people FAANG is still the top option, and for people that want to shoot beyond FAANG, trading firms are probably the next target. If you were including very early startups in this list, I've noticed that the smartest people often join promising startups as an early engineer, or make their own company. I'd put them above trading firms, but the risk is way higher.
noisenotsignal 4y ago
HFT, prop trading, market makers and the like are also finance firms right? They are still pretty coveted by those who are aware of their existence. Jump Trading, Citadel, Jane Street, DE Shaw etc are considered highly prestigious and competitive. There are certainly financial firms that people are less interested in though, namely banks.
boshalfoshal 4y ago
Lol, couldn't be further from the truth. Ive gotten multiple offers at FAANG and Trading firms (thinkCitadel Jump, Optiver, HRT, IMC, etc.). Trading comp blew my FAANG offers out of the water. And if you went to MIT, CMU, or Berkeley right now I would guarantee you the top students are gunning for an internship at one of those firms. Perhaps "prestige" may be lower from an external perspective (Your parents will brag about you being at Google, but probably not Jane Street), and Id also agree with the fact that the top 0.01% probably either make their own startup or join as a founding engineer at a startup, but the top 0.1% of students are definitely going for Prop trading/hedge fund jobs.

joezydeco 4y ago

Curious - what's at the top of their list now? Do they still want FAANG jobs after all the layoffs?

andsoitis 4y ago
I don’t think layoffs change people’s desire to work at a top hi-tech company.
boshalfoshal 4y ago
I'd say HFT/prop trading/market making/hedge funds, since those are the only places that are hiring right now and pay good money. The usual destinations for smart and motivated new grads are (not counting very early startups/making your own company): 1. Top tier HFT/prop firm (Jane Street, HRT, Jump, etc.) 2. Meta, larger unicorns like Stripe, Databricks, etc. 3. Google 4. Amazon, Microsoft, etc. Obviously im leaving out a lot of places but this is generally what I've seen. Id say for most people FAANG is still the top option, and for people that want to shoot beyond FAANG, trading firms are probably the next target. If you were including very early startups in this list, I've noticed that the smartest people often join promising startups as an early engineer, or make their own company. I'd put them above trading firms, but the risk is way higher.

noisenotsignal 4y ago

HFT, prop trading, market makers and the like are also finance firms right? They are still pretty coveted by those who are aware of their existence. Jump Trading, Citadel, Jane Street, DE Shaw etc are considered highly prestigious and competitive. There are certainly financial firms that people are less interested in though, namely banks.

boshalfoshal 4y ago

Lol, couldn't be further from the truth. Ive gotten multiple offers at FAANG and Trading firms (thinkCitadel Jump, Optiver, HRT, IMC, etc.). Trading comp blew my FAANG offers out of the water. And if you went to MIT, CMU, or Berkeley right now I would guarantee you the top students are gunning for an internship at one of those firms. Perhaps "prestige" may be lower from an external perspective (Your parents will brag about you being at Google, but probably not Jane Street), and Id also agree with the fact that the top 0.01% probably either make their own startup or join as a founding engineer at a startup, but the top 0.1% of students are definitely going for Prop trading/hedge fund jobs.