How do promos/career advancement and bonuses work at trading firms
Will be joining a trading firm (e.g. JS, 2sig, Citadel) soon as a new grad (SWE/research/quant dev) with just a bachelor's. Was told first year has guaranteed bonus, but beyond that not too sure what to expect. How do bonus structures work at these firms and how do promos and advancement work?
Formulaic in the beginning, more arbitrary as you progress in title and role. The more value you can tie directly to you - the better.
Your questions are company career progression questions that you should always be comfortable speaking with your manager about in 1:1s. I'm sure you could get generic answers here about promo velocity and comp structure, but the more important answer will come being in sync with your manager about what your goals are in the company, and how the promo and comp reward come with the roles you want to take on. (FYI nitpick, two sigma and half of citadel aren't trading firms)
You'll get better answers if you tell us where. Citadel, TS and JaneStreet are very different.
This is at TS.
Expect the bonus to grow based on the value you provide. Eg: 50k guaranteed first year for new grad, it could be 60k for the second but totally depends on ur visibility . If you have lots of experience, the growth would be lot more. It never goes down, coz u r already out of the firm if that’s the case.
What’s the interview question? Leetcode medium or hard? And involve stats?
SWE/Research/QuantDev are three different jobs. Which one are you doing?
Quantitative SE