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I worked in Algo trading at a bank. Banks do not pay SWEs that work in algo trading well. I left finance to work in tech and got a 50% bump right off the bat. A
by kevstev 3y ago
I worked in Algo trading at a bank. Banks do not pay SWEs that work in algo trading well. I left finance to work in tech and got a 50% bump right off the bat. And I was well paid on my team- the h1s and kids out of school were not breaking 100k. I know the guy sitting in my old seat and 10 years later he is maybe getting that 50% more while I have 4xed. He works 50-60 hour weeks like I did as well and I rarely go past 45.
And this was ten years ago when this stuff was the hot thing. This myth that big banks pay anyone in tech well needs to be dispelled. I worked at a few as well and they were all the same.
- google234123 3y agoAlgo trading and even general swe at the top places (e.g. citadel) will pay better than the top tech firms.
- decafninja 3y agoThe top finance firms like Citadel, Jane Street, Two Sigma, and the like have the best paying tech roles, but also comparatively much fewer of them than FAANG and the top tech companies. They're also extremely difficult to get into. I don't remember where but I read someone saying it's easier to get an offer from all letters of the FAANG pantheon than it is to get an offer from Jane Street. Also different banks pay better or worse. Goldman is the top of the hierarchy and pays competitively with a mid tier tech company depending on your team and role. JP Morgan is second place. The rest of the pack (BoA, Citi, UBS, WF, others) probably can't compete with most tech companies.
- kevstev 3y agoAgree. Worked in the first group as well and it paid well and legit valued it's employees. The hours became a bit abusive at the end so I followed one of my bosses there to a firm he went to. But that's how I made the jump to 4x.