They seem to pay above average, but why? Is it just that it's technicallymore challenging, or is the sacrifice things like work life balance? Also it seems that they are generally smaller than other tech firms? Is there a downside to this?
Let’s imagine there were 1000 SWEs in the world. If you wanted to hire 800 of them, you’d have to hire a lot of mediocre ones. If you’re at a smaller trading firm that wanted to hire 20, you would aim for the best of the best. You would expect to pay them more too.
Did you join out of college?
They don't have RSU. Their pay not that good.
Pretty sure that the pay at the top tech focused places is on par or greater than what you get in tech. Not having RSU isn’t an issue when you have higher base and a yearly bonus that can match what you’d get in RSU but in cash
Couple of years ago I got such an offer. Higher base "up to 100%" bonus. But it turns out to be only matching my comp then. Plus you pay NYC city tax? Not to mention I have to NYC. It was a firm NO. I can work in a tech firm not doing nearly as much as I would in a trading firm having a very good WLB and earn about the same.
The fact that it's a trading firm.
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Compared with tech giants trading firms fail frequently. Your comp will hang on the trading success of the firm. You'll have to be there during market hours. They don't pay lip service to diversity and inclusion. You'll work with some great people and some serious assholes. Cutting edge front end web tech doesn't matter. If you love the markets you're trading it's a good job. If not, it's just another job and you might learn to love it or you might find you're happier else where. Oh and when markets evolve and older guys who've been earning well for decades can no longer support the third trophy wife, obscene power boat on Lake Michigan and jumbo mortgage they'll realize they're masters of a craft society no longer values and they often kill themselves.
Have you ever worked in a trading firm or all this is hearsay?
Good one! Doesn’t look like you have worked at one.