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The email from Sam's dad to Sam whining about his 200k salary was disturbing. It's no surprise that Sam ended up the way he did
by amanj41 3y ago
The email from Sam's dad to Sam whining about his 200k salary was disturbing. It's no surprise that Sam ended up the way he did
- 71a54xd 3y agoHis brother briefly worked at Jane Street. Right out of college he made $300k, next year $600k - his bosses liked his perf and said he'd be on track to make $5-7M per year if he stayed on for another 2-4 years. Supposedly he still felt inadequate and hated his life...
- nequo 3y agoThose numbers are surprising. Do you have a source for them?
- Atotalnoob 3y agoThat is typical for Jane Street and other quant firms. They pay like crazy, if you are good, you make bank. If not, they fire you
- ionwake 3y agoI’m now considered probably in the top percentile of earners for my country. But I do remember struggling to make ends meet on my 16k a year first tech job out of university. I find it hard sometimes to relate to tech workers in these forums sometimes. And yes I’m in the west.
- jwilber 3y agoWhile many western tech salaries are high, the salary in discussion is a result of nepotism, not merit.
- wakefulsales 3y agothat's insane, 5-7mm?
- HWR_14 3y agoI mean, there are probably metrics that show he made Jane Street a considerable multiple of that via his trades.
- Randomizer42 3y ago[dead]
- HWR_14 3y agoI mean, if I had a close relative with total control over a 40+ billion dollar company and a personal net worth north of 25 billion, I would want a very high salary for showing up too. I don't think asking for more was unreasonable.
- iancmceachern 3y agoWhy? Entitlement?
- HWR_14 3y agoBecause it costs them nothing and has a major impact on my life. Why shouldn't I get paid a million a year for doing nothing? It's not like FTX was going to spend that money in a wiser fashion or even literally notice it was gone. I'm not saying I would get upset if I didn't get it. But I would certainly ask for it.
- iancmceachern 3y agoThe money comes from somewhere. In this case, the people who were defrauded. There is no free lunch, if you aren't adding value to the economy equal to or exceeding what you're taking, you're taking from someone else. (Editing to respond to child comment below - you don't be daft, SBF nor his father never thought the business was legit, they architected the fraud!)
- Fatnino 3y agoDid the likes of musk or bezos add billions of dollars in value to the economy though their own hard work? Seems to me they are just takers.
- iancmceachern 3y agoI agree. The likes of buffet and the other 3,000 or so billionaires who choose to live quieter, less Gatsby lifestyle are better role models IMO.