Crazy offer from New York Hedge Fund Fintech

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nLKp36

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nLKp36
Aug 25, 2016 124 Comments

So I interviewed at a hedge fund yesterday in New York and they've already sent me an offer today for 3X my current pay! but I have to relocate to New York from San Francisco. I have 10 years in the valley working in consumer web and really love my lifestyle here. I currently make $200K as a software engineer with great benefits. This new position is a suit and tie fintech job near Wall Street. The offer is slightly shy of $600K a year for a director of private cloud services role for a top 5 hedge fund managing tens of billions of dollars.

I have a few concerns I'd love your opinions on.

1) I don't know anything about Wall Street and hedge funds but I've heard they are a death march and super cutthroat environments. Is this true? Will I be paying for the pay bump in stress and anxiety?

2) if I take the job, I'm walking away from about $600k in unvested RSU's but getting it back in salary I guess

3) what would you do?

4) any questions I should be asking them?

I have a week to think it over, constructive feedback is much appreciated.

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TOP 124 Comments
  • I don't consider it a crazy offer. Indeed it's a below avg offer at your level. I, with 4 years of experience in a tech in Seattle, got 400k offer from a hedge fund and 1M offer from Snapchat but decided to go to Google in Seattle for 300k. You need to consider NYC city and state tax, the wrong promises of juicy performance based bonuses and work life. If u becoming a director with 10 years experience, they gotta give u a million to move. Remember it doesn't matter how much u make or u are promised to make. What matters is:
    1. How much You will definitively SAVE after tax and living costs. Promises of bonuses or equity (like Snapchat) are good but you have to apply a discount factor of uncertainty to them. U should answer how much is that? 25%? 50%? U say it for yourself. But don't let the big number lures your mind. By the way, rule of dumb: they never give you best offer at the beginning. U gotta bring another offer and negotiate or soon i will realize u left money on the table.
    Aug 26, 2016 6
  • Uber
    TheBrophet

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    TheBrophet
    Do you have to wear a suit and tie though?
    Aug 25, 2016 7
  • Oracle
    qworac

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    qworac
    seriously 600k $ .jesus. i am ashmed of my salary.
    Aug 25, 2016 7
  • Your living expenses will be higher in NY but $600k is no jokes!
    Aug 26, 2016 1
  • If that's the first offer they gave you, ask for more. Ask for 800k and see what happens, who knows they might just say yes.
    Aug 25, 2016 0