Top paying hedge funds for developers ? Worst work conditions ?

Jun 19 30 Comments

Top pay = definitely above 300-400 for Senior developers (FANG or above)

I have heard from multiple sources that Two Sigma / Citadel are among the top payers.

HRT has a great technical culture I believe but not sure of the TC.

Also not sure if Jane Street / De Shaw fall in the same category as above .

1) Are all five of these top tier ? Did I miss some ?

2) On the working culture, heard Citadel has lot of red flags due to WLB and firings. Any red flags with the others above ?

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TOP 30 Comments
  • Two Sigma quanty
    Two Sigma definitely pays competitively and is consistently at or above TC at Google/Facebook. The culture is pretty great and hours are relaxed.

    Citadel has a large spread and will pay a lot for people that interview very well but will often low ball if you don't have a great background. TC can be extremely high but expect longer hours.

    From what I've heard HRT pays extremely high but I don't have too many days points as they are smaller firm ~200. I heard their standard offer for new grads without signing was 275k/year. Culture there is apparently very collaborative and tech centric.

    Jane Street also has a great culture especially if you're more trader/math inclined as there's always a ton of opportunities for you to bet on things. My friend there really likes it and they definitely pay competitively.

    DE Shaw is different in that the trading groups are much more siloed though if you do well there you get paid extremely high.

    Overall all are top tier firms with the comp ranking as Citadel>DE Shaw>HRT>Jane Street=Two Sigma for top performers and DE Shaw=HRT>Jane Street=Two Sigma>Citadel for average performers.
    Jun 19 4
    • Two Sigma DMrE63
      FYI most people in the Two Sigma Blind lounge would leave for Google as of right now.

      Tldr Google has about the same pay with free food and better wlb
      Jun 20
    • Amazon lalala111
      Great info. But are you talking about developer or quant?
      Jun 22
    • Two Sigma DMrE63
      I'm assuming dev since Google doesn't have quants
      Jun 22
    • Two Sigma / Eng mgre
      Data science and research roles are similar to quant roles.
      Jun 23
  • Jet.com / Other
    gtfoorgtfo

    Jet.com Other

    PRE
    Starbucks
    gtfoorgtfomore
    2s uses fixed problem set (15-20 problem total) which can be easily memorized. Some people may have gotten in by cheating, not good.
    Jun 19 0
  • Jane Street Capital / Eng sumce
    From what I've heard chatting with folks from other firms, I think we're at the top for senior dev comp. Certainly above 2s and DE, not so sure about citadel.
    Jun 19 10
    • OP
      Jeez ! Are these numbers for developers , or quants , or quant developers ?
      Jun 19
    • Two Sigma / Eng mgre
      @quanty those are quant numbers? I would say 400 is more in line with 5 years for Dev.

      I think in general the high end is higher at Citadel/JS/Jump, and the median is probably higher too.
      Jun 19
    • Jane Street Capital / Eng sumce
      I'm a lot less familiar with HRT. Maybe I should check them out. What's that about deferred bonuses?
      Jun 19
    • Two Sigma quanty
      I just asked my friend and he said once you get your bonus it's paid out quarterly over 2 years. If you leave the company before you fully vest you still get your bonus (maybe to smooth out large payments?) Sounds a bit sketch but he said there's never been an issue with his friends getting the deferred bonus after leaving.

      The result is for the first two years your bonuses are a bit less cause they are still vesting. To make up for this they give large signing bonuses 100-150k+ for entry level.

      I still don't fully understand it...
      Jun 19
    • Two Sigma / Eng mgre
      Deferrals are usually invested in the firm, and are conditional on abiding by the terms of your non compete.

      It's also a way for the firm to hold on to the capital for longer, but that seems like an unlikely reason to me.
      Jun 20
  • Facebook VHwj68
    Jane street pays $300k for new grad devs. SMH should’ve prepped harder for them
    Jun 19 2
    • Jane Street Capital / Eng sumce
      I think it's typically only $250k unless you're including a signing bonus.
      Jun 19
    • LinkedIn Gumbo123
      Only

      Lol
      Jun 19
  • Goldman Sachs fake engineer
    HRT and DE Shaw have ultra high comp but your chance of getting in is close to 0.

    Citadel pay is amazing but has bad WLB. They are willing to spend absurd money on new grads for some reason. Job security is offset by a high base and non compete contract, which I think is a plus (people who are more greedy for money would see it as a negative).

    JSC I think starts new grads a lot lower (though I hear it's been bumped up in the last 2 years), but senior dev comp is pretty strong.

    Two sigma I hear mixed things, some people are paid a lot others aren't. Seems to be in line with JS, not quite like Citadel. I think out of everyone mentioned they are the easiest to get into.

    There's a lot of small companies willing to pay for talent too, they might be riskier though.
    Jun 19 0
  • OP
    Now that we have discussed the astronomical numbers :) , is there a chance of getting into these without
    a top school or FANG etc in your resume ?

    Citadel perhaps is more open about interviewing , but have got nothing from Two Sigma / JS yet. From HRT, just got a phone screen and was rejected even though it went quite well !
    Jun 19 8
    • OP
      Have not even heard of many of these , will explore. Thanks !
      Jun 19
    • OP
      What are the trade offs by the way ? HFT vs hedge funds ?
      Jun 19
    • OP
      I do work in the financial sector , in a CRAPPY bank. Even the lowest level of these above TC numbers would still be fine with me 🙁
      Jun 19
    • Goldman Sachs fake engineer
      Most HFT firms are highly siloed, and the WLB is bad. That's mostly self inflicted because you have pressure to generate profit.

      At a hedge fund, usually employees get to invest with the firm with reduced fees, which is a massively useful perk. Most of the big names seem to have slightly more reasonable workload.

      Yea I feel you, my comp is horrible too, trying to leave for a quant fund.
      Jun 19
    • Jane Street Capital / Eng sumce
      I have neither a top school nor FAANG on my resume. I doubt that's the problem.
      Jun 19