I can give my data point. Masters + 1 YoE in tech (ML) Role: Quant Researcher in a Hedge Fund (Heavily Stats and ML focused) City: NY TC: (400k + bonus)/year (for first 1.5 years) After that, it is 200k+bonus (this TC is expected to be higher than the initial TC)
Look I’m not straight up calling you a liar, but I don’t see anyone near that range for base at a top shop like Two Sigma. Most top out at $180K base + bonus.
The 400K is split into 200k base and 200k “guaranteed bonus” for first 1 or 2 years. This is typical in many funds. After the first year, the base remains, but the guaranteed bonus vanishes. Everything is performance based by then. The h1b info site has only the base and not the guaranteed bonus part.
The initial guaranteed bonus is given because they understand that one cannot generate big profits in their first years. It is meant as a stepping stone, to fill the gap until you can stand on your own performance bonus.
I have a friend who interviewed around hedge funds, and I can also say that his numbers are achievable (but don’t go in expecting this to be the norm). The bonus can vary wildly later on, with some years making 500k or more. But again, it depends on the firm, YOUR performance, as well as the company’s performance (and ur manager I guess?).
If your trading algo makes the company 10 million, you do get deserve to get some of that. But think about it this way - you’d never risk running your own trading algorithm yourself, so the hedge fund is there just as a way to mitigate ur risk, but also take in 95% of the reward as well.
Not sure about work life balance though - maybe it’s good, maybe they over work you. In either case, I don’t think startup tech (which has potential to pay millions in an exit) nor hedge fund are meant for the long term. I doubt anyone can sustain 20 years of that 60-70hr/week work lifestyle.
PS. I don’t understand why we people in tech think we have the highest pays. You have to realize that even ramen shop owners can make 1 million a year with just one successful ramen shop. Private equity/investment banking can make bank and by far surpass the tech worker at google. But it’s just a very different environment. The reason you work in the bay has two distinct advantages: join something like a big pre-IPO unicorn and guarantee 500k+ RSU over 4 years while working a stable 9-5 life, OR try to win a lottery jackpot. I know of people in VC and also crypto folks and other people who joined a successful startup early on who have made so many millions/billions that they can buy private jets. I doubt that’s achievable in any other field. However, those are also the rare exceptions in tech.
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Masters + 1 YoE in tech (ML)
Role: Quant Researcher in a Hedge Fund (Heavily Stats and ML focused)
City: NY
TC: (400k + bonus)/year (for first 1.5 years)
After that, it is 200k+bonus (this TC is expected to be higher than the initial TC)
Look I’m not straight up calling you a liar, but I don’t see anyone near that range for base at a top shop like Two Sigma. Most top out at $180K base + bonus.
https://h1bdata.info/index.php?em=TWO+SIGMA&job=QUANTITATIVE+RESEARCHER&city=&year=2018
What specifically in ML do you specialize in? Is it a specific algorithm (I.e. neural nets) or strategy (i.e. pairs)?
If your trading algo makes the company 10 million, you do get deserve to get some of that. But think about it this way - you’d never risk running your own trading algorithm yourself, so the hedge fund is there just as a way to mitigate ur risk, but also take in 95% of the reward as well.
Not sure about work life balance though - maybe it’s good, maybe they over work you. In either case, I don’t think startup tech (which has potential to pay millions in an exit) nor hedge fund are meant for the long term. I doubt anyone can sustain 20 years of that 60-70hr/week work lifestyle.
PS. I don’t understand why we people in tech think we have the highest pays. You have to realize that even ramen shop owners can make 1 million a year with just one successful ramen shop. Private equity/investment banking can make bank and by far surpass the tech worker at google. But it’s just a very different environment. The reason you work in the bay has two distinct advantages: join something like a big pre-IPO unicorn and guarantee 500k+ RSU over 4 years while working a stable 9-5 life, OR try to win a lottery jackpot. I know of people in VC and also crypto folks and other people who joined a successful startup early on who have made so many millions/billions that they can buy private jets. I doubt that’s achievable in any other field. However, those are also the rare exceptions in tech.
QD/SWE: limit is about similar track as BigTech maybe with some additional delta depending on firm