Hi, I was wondering if some people who work or worked at Optiver especially the Chicago office would share the thoughts on the WLB, compensation, how the bonus structure, and career growth? Currently interviewing with them for a new grad role. Thank you! #optiver #tech #finance TC: 64k (intern)
Damn do US marbles go from 50-100-200-? In APAC its 25-50-100-200-400
New policy is that first year (first 12 months at the company) you dont get marbles. After 12 months, based on your performance, you are allocated a certain amount of marbles. Could be lower than 50, could be higher, its just based on the impact/results that you showed in your first 12 months. Generally speaking though, it should be around 50.
I can answer some of your questions. These points are mainly for SWE: 1. WLB - 45-50hrs/wk, Id get in at 8 and leave between 5 and 6. Some people left earlier/later, I dont think it matters too much though. No work on the weekends, no work after hours. 2. FY Comp - First year comp will lose to most relevant competing quant firms (bar akuna), but will beat tech comp. For firms like DRW and IMC, the TC difference isnt that much, but for cit, hrt, js, etc. its quite large. As of now, Optiver doesn't negotiate comp, so you'll probably lose out on a bit. FY comp is split into base/(cash) bonus/sign on. 3. Bonus - after your first year, your cash bonus switches to the marble system. A marble is basically a slice of Optiver's profit sharing pool, and entry level SWEs normally get 50 marbles. Historically, these marbles were valued at 2-2.2k a piece, where the value for each marble is determined by how well the firm is doing globally, so good years like last year had nearly triple the avg marble value. Expect to double your marble count every 2-3 years, less if you're good. 4. career growth - Optiver has a bunch of smart and talented people, and you're given a lot of responsibility up front. Its a double edged sword, but if you can handle the responsibility, you'll learn a lot and your comp will grow accordingly.
Wow thank you so much for this! Do you mind if I DM you to ask some more questions?
I don't think it's a fact that Optiver loses on comp vs any other trading firm in the medium term. Maybe the first year or two, but I would argue long term earning potential is as good if not better than all those other firms. I know for a fact that in 2020, Optiver paid engineers up to 2-3x what Citadel and IMC did even for top performers. No other HFT provides access to firm's upside like Optiver.