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I'm much more quant than programmer, but even programmers at trading companies get paid at least as well as they do at Google/Facebook (and obviously much bette
by consz 12y ago
I'm much more quant than programmer, but even programmers at trading companies get paid at least as well as they do at Google/Facebook (and obviously much better than they'd be paid at a startup) to start with. Not to mention that programmers at SV companies are second class to product managers, so the relative status situation isn't that different.
I don't know where you get the more hours/more rigid attitude from. 9hrs is very typical, weekends are very rare, and the only time you ever exceed that is when you are releasing very new strategies -- strategies which you get a direct cut of the PnL, so you have a very direct incentive to want to get that out there and trading as soon as you can.
Is everyone equal in finance? No. But compared to working in the valley? It's worlds apart. Let's look at a simple example, for Google and Goldman, take a look at average revenue per employee (~1.2m for both) vs. average compensation per employee (600k for GS, ~150-200k for Google). In what way are Google employees not getting screwed over? Prop trading firms have even flatter structures than Goldman.
- asdfologist 12y ago"600k for GS, ~150-200k for Google" is a meaningless comparison. First of all, the 600k is mean, not median, and it's heavily skewed by the relatively few but very high MD/partner salaries. Second, that's across the entire firm, and the GS tech guys are pretty far down the totem pole when it comes to pay. I doubt there's much difference in median programmer pay in GS vs Google, especially recently given the rise in SV salaries. And if you're a quant, then it's totally not fair to compare yourself against a programmer, because even if you're doing programming, it's a completely different job altogether. Quant jobs (the ones immediately touching the models) are much more statistics focused, and the coding is more a means more than an end.
- consz 12y agoWhat job is there that coding isn't a means to an end?