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> For any job that you're likely to get in your 20s, NYC finance jobs pay worse, have far longer hours, and are much more high-pressure. If you're working in t
by dev_jim 13y ago
> For any job that you're likely to get in your 20s, NYC finance jobs pay worse, have far longer hours, and are much more high-pressure.
If you're working in the front office then your pay is going to be a multiple of a startup job. And it's going to be significantly higher then any established company in the area (Amazon, Facebook, Google). A good rule of thumb is your base will be similar what established companies pay and your bonus is all gravy.
Pressure and hours vary by firm. It's hard to generalize.
- bigbang 13y agoI'm not sure how much bonuses software engineers get. I've heard it's great for bankers, traders etc. But do software engineers(who work on building infra/tools, not the kind who write trading algos) get paid good bonuses as well? By good I mean 30%+
- dev_jim 13y agoThe closer to the trade you are the higher bonus is as a percentage of your total comp. I did mention "front office" in my original post. - Infrastructure is vital to most trades. Bonuses are going to more than 30% if you're on the cutting edge here - prop shops, some technology oriented hedge funds, and some banks. - If by tools you mean GUIs then no. - Engineers who write trading algos (or more likely algo components that are used by a trader at a higher level) will have a bonus that is more than 30%.
- bigbang 13y agoThanks for the clarification. Is it feasible to get into a prop shop or hedge fund as a programmer and "graduate" to trader? How common is it?
- dev_jim 13y agoCommon enough. Skills are so specialized thhough that it doesn't always make sense to switch though. Its a different career track, not a promotion. Top end trader will make more but top end developer will make more then the average trader. You should focus on what you are good at.