Anyone have any idea how SWE at Optiver is like, particularly in comparison to big tech/FAANG like Google and Facebook? Trying to decide for new grad position. Tech feels like a safer route, particularly with the coronavirus going on, but doing well at Optiver might have a lot of upside, and I might not get the chance again. Similar first year TC, not completely sure how salary/career progression works comparing tech vs finance.
TC or GTFO
TC at the tech company would be 118k base, 160k rsu for 4 years, 75k signing so total 233k TC (standard non-GE return internship offer). There’s also 10k for relocation so 243 including that. TC at Opt is almost identical first year (with higher base + bonus and smaller signing bonus). Unsure about specifics on how fast career progression goes in either place.
Optiver > FANG
Could you please elaborate? I can also dm you.
Make it a poll
G/F is better for growth. There's minimal growth at HFT firms for tech.
G/F is better for growth until you hit the low IC ceiling of 500-600K TC. Optiver, there is no ceiling. Even for SWE ICs. And as a Google L6/FB E6, you do more teaching, rather than growth.
Learning Optiver and f/g from New is always refreshing
I'm currently considering switching to HFT (Optiver is one of the places I'm looking at) and honestly I still feel like F/G is better for new grad. I haven't been particularly impressed with the quality of talent compared to F/G so far. There's more duds at F/G (just because they're so big), but the best of the best at F/G are wayyy better than the equivalent at Optiver it seems like.
What would you say the “cap” is for the best of the best at Facebook? Obviously I’m not expecting to be as good as them but I am willing want to work hard if there’s room to grow. From what I’ve seen the main complaint against the big tech places like Facebook is that it’s really hard to break past E5-E6 after a few years.
For people who are at the top of their game, the sky is the limit. I was on track to be E6 at 3 YOE before I left, probably had a clear shot to E7 within a couple of years after that. The level of responsibility and scale is much larger than anything you would find at somewhere like Optiver, and you'll learn a lot more imo.
I have friends that started as new grads at both Optiver and FB. Optiver will have better compensation and much higher comp ceiling, but FB will probably be a more recognizable name if you want to stay in tech.
Were your friends traders or software engineers at Optiver?
I know people doing both. But my SWE friend at Optiver who started last summer is expecting a bonus for 2020 that's higher than his base salary. That might be skewed because this was such a good year for market makers though.
Could do Optiver -> HRT, Citadel, Jane Street later, but I think FB > Optiver
Could you please elaborate on why? Also how doable would getting interviews for FB -> HRT, Citadel, JS be later if I decide I do want to try to get into finance?
imo if you are working on C++ projects at FB prop shops would be keen to interview you
It's hard to compare I guess. At Optiver like shops your work has immediate impact on business. You release and see it in production right after. Quick feedback loop, steep learning curve. At FAANG you are one of many on a large project, safer but slower.
OP what did you decide?
I’d say if you want to be a SWE, G/F is a better bet