I've read TC at Citadel Securities (and HFT in general) is structured differently than in FAANG. In particular you get somewhat light base compensation and a bonus which is higher than the base salary itself (and no stock). How is it decided how much of the bonus I actually get? Or in other words, what is the realistic expectation? For example in FAANG you can comfortably expect 100% of the target bonus (and in practice you get more). Do people at HFT get all of the bonus, even more or just some fraction? TC: 500k #citsec #tc
What if they fire you in 11th month ? Do you still get the prorated bonus in HFT ?
Depends on the firm and the reason you are fired but usually yes. Word gets around and nobody is going to want to work somewhere that fires you in the 11th month and gives you 💩
Ooo … how much Citadel pays to mid senior ?
After first year there is no “target” bonus so getting “all of the bonus” makes no sense. You get a bonus at the end of the year.
What's the bonus usually? Like 20% of base?
It’s like RSU at tech companies. It’s a larger percentage the further you are in your career. But way more than 20% of base. Take whatever RSU you’re getting at tech, multiply by 3-4 that’s roughly what I’ve seen.
About half of my comp is in bonus and the bonus is a guaranteed minimum. They can decide to give more but they let you go instead of giving reduced bonus
First year guaranteed bonus. Following year larger bonus. Base doesn't increase much if at all, partly because of non-compete.
Yeah, you just send the bonus straight into savings and forget
TC or GTFO
500k