I have a quant research offer from a top HFT firm for 600k+ first year and 500k min recurring but off late Im wondering if I should take it. For context, I am in school doing my MS and my research advisors have been encouraging me to do my PhD (which given my past experience would be in ML). Given all the AI excitement going on, would it be worth it to do my PhD? I think I would be able to do top PhD program as I have pretty strong research experience and solid letters. Given how late it is I would probably have to apply for next cycle though. It seems pretty difficult to go back after making money, but I think it’s possible. Has anyone been in a similar place or have advice? Tc: 60k (student) #deepmind #openai #hudsonrivertrading #janestreet #citadel #jumptrading#tech
Which school are you at?
T4 CS
So the 4th ranked one?
Harbor Freight Tools pays $600k?
I’m sure it does for someone!
How much are people with PhDs paid? How long would it take to make up the lost MS income? I generally think a PhD would be a differentiator for you for the rest of your +20 year career, so it’s worth the lost income for 4 years or so. I’ve heard of CE PhDs being paid upwards of $1MM a year.
I know quite a few people without a PhD at the company I’m going to that well exceed 1mm tc, so Im not super worried about the TC bump/lost TC, moreso the research experience and ability to work in tech research.
Big opportunities in life like this are seldom, take the money and set yourself and your family up for life.
It doesn’t seem particularly hard to get quant offers—I got several this cycle but couldn’t even get an interview from top AI companies. Im not sure this opportunity is too rare, but it is certainly a lot of money.
Selection bias. No guarantee that because you passed a high percent of interviews this time that you will have the same success next time
You can’t scale a PhD.
I'd say go with the hft job and if you don't like it or want out leave and you can pursue the PhD while on the non-compete.
Omg take the money. Do you have any idea how rich you’ll be by 30! Take. The. Money. Source: have a PhD.
What was your PhD in? Do you regret it/not find it fulfilling? Also im assuming youre an algo dev—how fulfilling do you find the research?
I find the research very fulfilling. DM me if you want answers to the other questions.
It's a tough choice. I have an applied math PhD and I think it has really accelerated my earnings over the years. Although my first salary was as an analyst in early 00s at 70k, no bonus. Now I'm at 275 base +350 stock/bonus. But your first salary will be 600. So that's huge. In short, do the PhD only if you really want to.
Opportunity cost. That is a factor in my opinion. 4-5 years from now the market won't be the same and the AI field won't be the same. In fact, it seems like it is maturing. Imagine a different situation: if you have a choice to join OpenAI now or to go to MIT, which one will likely maximize your reward at the end of 5 years? My bet is OpenAI, even if they have hired a ton of new people recently.
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Take the money - grad school is easier when you don’t have to worry about finances. TC:625
Seems like there is good TC in AI/ML though
Can’t agree more. PhD is so much easier when you’re not worried about money. You’ll just have to adjust your lifestyle, but you’ll be so much more happier when you’ll have a financial cushion.