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It really depends on which type of finance you mean. I've worked at some of the world's biggest hedge funds, as well as banks, and they are WILDLY different.
by kusari_tim 4y ago
It really depends on which type of finance you mean. I've worked at some of the world's biggest hedge funds, as well as banks, and they are WILDLY different.
Hedge funds
* Pay can fluctuate pretty drastically depending on what you do. Your value add in this space is to understand the financials more than other software devs. Remember their main goal is to generate money from money, NOT software development. It's a means to an end, so the more you can understand, the more valuable you are.
* Intense working environment - there's no real 9-5 here. High turnover, and there tends to be a lot of early turnover, so you either make it or exit quickly.
* Fun - generally given the intensity of the environment, you get to know your team really well and becomes a tight knit group.
* Expect weekends / holidays when things hit the fan. The amount of money on the line makes it very likely you will be pulled in for emergencies, which will happen.
* Deep tech knowledge and moves quickly.
Banks
* Bureaucracy heavy. You are more likely to find yourself managing paper work than doing software development. The software dev requirements are low, given the complexity is also low.
* Aging tech - given the heavy regulations things move slowly. Very slowly. The sense of urgency is replaced by reducing risk of getting something wrong. Often times they compensate with manual procedures over technology.
* Very high pay - Banks will pay someone who can understand technology, manage the process, and stay there for a while, very high salaries.
So, depending on what you're looking for, YMMV.
- mr_o47 4y agoAgreed, Hey i just saw your profile looks like you worked at Bridge water associates. What was it like it work at a pretty prestigious hedge fund
- kusari_tim 4y agoLoved it - was there for over 12 years. It can be very intense, and it's definitely not the kind of environment you can slack off. It gets a lot of strange press, but many of the things that make it strange to the outside are what make it such a high performing place. In general - be honest, work hard, have integrity, and demand that of others. I have a new startup now, and I credit BW with a large amount of the skills and problem solving I needed to go out and tackle big problems.
- mr_o47 4y agoYup I agree read a lot about it. It’s very different from other finance companies especially it has flat organization structure. Lastly I did check out your startup and it looks really cool in terms of the problem your startup is solving. Would love to connect with you and learn more about it.
- kusari_tim 4y agoThanks a lot, please do!
- mr_o47 4y agoSent an invite and a message on LinkedIn