Top Quant Firms, is Bonus Guaranteed?

Google r1chch1gg@
Mar 31, 2018 28 Comments

I've been getting interest from many recruiters in the quant space. I chose Google because nk shop guaranteeds bonus after first year while Google was almost all guaranteed.

I'm interested in: HRT, Two Sigma, Jane Street, DRW, and Vatic specifically, as those are the ones contacting me. Definitely looking into others like Tower and DE Shaw. Do any of these firms guarantee bonus after the first year or have a bonus floor? I would definitely like to be there if they do but it's hard as a new grad to take the risk of not guaranteed comp when I can make guaranteed money here at Google. To those who just say 'interview'c these companies have some of the long processes I know of, it'll be a massive waste of time if I end up in the same situation I was in out of undergrad. Looking for answers from people who've gotten offers from these companies only please, not just speculation.

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TOP 28 Comments
  • Facebook Call(me);
    Anyone know? Got an offer from one firm from that list offering a ~100k TC cut and all they will do is give vague promises that “high performers will do much better” but won’t give any details about the bonus.

    Not super appealing to gamble a solid FB position with vague promises. Even with the FB stock drop it’s still a significant pay cut.
    Mar 31, 2018 10
    • Google r1chch1gg@
      OP
      What was your motivation to move to a company like Google? I interned at one of those two firms and got the impression that no one who was there wanted to be in tech.
      Mar 31, 2018
    • Google feral
      @r1chch1gg do you mean that the ppl there don't like the tech scene/culture? Or that they were SWEs and unhappy with their role?
      Apr 1, 2018
    • Google r1chch1gg@
      OP
      So interned there for 10 weeks and obviously am at Google full time. All the traders were people that were Harvard/MIT MOP and Putnam guys that deep into poker and were fine working 60+ hours a week (7 to 7) with a high risk of being fired. The dev environment was less stressful but still much harder than Google. No WFH, limited sick days, had to be in the office by 9 most days, etc. The devs tho were much like the traders in that they were willing to put up with the hours and stress for the bonuses (which again weren't guaranteed). They could all have gotten into Google without question so I think they were at the firm because they enjoyed that higher risk higher reward.
      Apr 1, 2018
    • Google xyew77
      I just don't care about finance/trading so it was tough to stay motivated at a hedge fund/HFT. I also actively care what Google is up to so it was a much better fit. I'm in the minority - most people my last few jobs will happily build the same trading system every few years until they retire.
      Apr 2, 2018
    • Google r1chch1gg@
      OP
      ^ basically my impression
      Apr 2, 2018
  • Cisco Asdfghjk11
    Nothing in life is guaranteed
    Mar 31, 2018 0
  • Microsoft / Mgmt FUDOne
    Except death
    Mar 31, 2018 3
    • Amazon ChooChoo
      And what’s due on April 15... err, 17th!
      Mar 31, 2018
    • Microsoft / Mgmt FUDOne
      Which reminds me, I need to get on that bandwagon ASAP
      Mar 31, 2018
    • Amazon soles
      And taxes
      Mar 31, 2018
  • Two Sigma / Eng jwchb
    Bonuses tend to go up from the original guaranteed number.

    I don't know if there's room to have your bonus go down without being fired.
    Apr 1, 2018 2
    • Google r1chch1gg@
      OP
      This is probably the standard model. I know Optiver has a bonus range each year with a minimum number, which I think is best, but don't know anyone else who does
      Apr 1, 2018
    • Citadel iamsparta
      Unless you ran a successful trading business at a competitor, no one will guarantee a bonus beyond the first year. But there's an implicit guarantee that if you last till year 2, your bonus will be higher than year 1.
      Is maximizing comp your only objective?
      Apr 24, 2018
  • Google quora_TW
    They're guaranteed in the sense that if you're not good enough after the first year to earn that bonus (or more) then you will just be fired.
    Mar 31, 2018 0
  • Microsoft BCWs17
    My friend is working for a FinTech company and he is given pretty awesome bonuses like 2/3 of his compensation. I heard that at least in his company 50% bonus is kind of expected but they do not guarantee it.
    Mar 31, 2018 0
  • Facebook noob101
    @OP: Mind to share what base+bonus you were offered? (Feel free to PM, if you hesitate to post in public). Also, how many YOE do you have, like which levels at Google?

    I often get contacted from some of these firms for ML role, but never bothered to initiate a discussion. Understanding the top range (expected TC, rather than top performer’s TC) would help consider this, perhaps for a brief stint! Hope that doesn’t harm to come back to Tech, if one doesn’t find it suitable. Thanks!
    Aug 11, 2018 0
  • Microsoft vvtcgs
    Citadel pays quants shit
    Mar 31, 2018 2
  • Apple zrqv72
    If you’re at a good shop like de Shaw or Jane or two sigma and have a good year, it’s not abnormal to make 1-2x your base as a bonus. No it’s not guaranteed. And lots of people I know who retired with a lot of money at 30 and then went on to do work that was less lucrative.
    Mar 31, 2018 1
    • Chase tjPE83
      Isnt that only for non-dev roles like trading and quant?
      May 7, 2018
  • Microsoft FCke62
    Nothing in life is guaranteed
    Mar 31, 2018 0

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