Hi all, I've got offers from a tier-two HFT (think DRW, Optiver, IMC) and Facebook in Chicago and Menlo Park respectively. I've signed the HFT offer, but the Facebook offer came in and I'm torn. I'm interested in low latency / systems development, so whether I enjoy FB would be contingent on working in an infrastructure role. Whilst I'm young I don't mind working long hours but I hear that FB and HFTs work you pretty hard either way. My priorities are being able to live comfortably and career growth. I'm under 25 and I'll be moving countries. The Facebook office looks amazing and I like the idea of being amongst other engineers and in the buzz of Silicon Valley, but the high cost of living and insular nature of the Bay are making me hesitant. To get some of the common questions out of the way: - I rank interesting work > TC > WLB - I see myself entering big tech and staying there for my later career but I enjoyed HFT after interning there Facebook: 115,000 base + 150,000 RSU over 4 years + 10% semiannual bonus + 45,000 signing bonus = ~164,000 TC in year 1, exc. signing bonus HFT: 150,000 base + 20,000 to 40,000 first-year bonus + 10,000 signing bonus = 170,000 to 190,000 TC in year 1, exc. signing bonus #offer #career #tech
Why is the HFT offer so low? 300k+ is the norm for new grad.
Probably because I'm not from the USA and it's not JS / Citadel / TwoSigma
If it’s not tier 1 HFT, I would go for FB
Build up your resume in early career stage, go to FB
The new thing for tech people in finance is machine learning on unstructured data. Google alternative data in finance. HFT is a terrible path now, it’s played out. A few firms are good at it, if you aren’t at one, forget it. The real money in finance is in the intersection between fundamental analysis of companies and using machine learning on messy data to tease out fundamental metrics in ways that other funds cannot or aren’t
You’d save so much more living in Chicago with that TC. I’d go to the HFT for the work and switch to FB later in your career. It’s probably easier to go from HFT to FB than the other way around.
Your FB TC is 164 not 175. New grads get semi annual bonus based on earnings from the past 6 months and hence it’s just 10% of your yearly salary.
My bad, thanks for that
Congrats on the offer, I would recommend FB for growth, brand, higher job security and best equity refreshers (you will get like 40-120k refresher every year as a new grad based on performance). Btw, don’t listen to the crap on Blind, 164k in the Bay Area is solid and you can easily save 70-100k per year.
Your FB TC after first year will likely be higher than HFT after first year due to refreshers. Promotions are also much faster. Go in FB first and apply for T1 quant firms (Rentec, Jane Street, Citadel) later on. T1 quants > FB (T1 tech) > T2 quants
Rentech? LOL
@Roku what's the issue with that? Not T1?
HFT is super competitive now and it's a game of scale. Go for FB.
Do you think HFT is dead?
You could live like a king in Chicago on that salary. Great city with lots of fun things to do. The facebook name on your resume will open many doors though. Tough decision.
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HFT. FB is not that interesting