At what level it is possible to get a 7 digit offer from hedge funds?
Feb 14, 2020
26 Comments
A recruiter told me that DE Shaw, Two Sigma etc. wouldn’t hesitate to pay around a million TC for the first year (even without performance based TC) to attract specific talent (e.g in ML or time-series). How true is it? How much of seniority would be expected to achieve that?
Current TC:$650k
comments
About Two Sigma their sde salaries are almost exactly the same as G salaries and from my understanding from folks untill you are a QR who had come up with actual models you wont get rewarded this way.
TS QR has a somewhat "collaborative" structure I believe (different asset classes are siloed, but there aren't competing people in the same group with their own pnl iirc) so the QR pay is not as high variance.
I've heard of 1m signing bonus for academia hires doing NLP work they really wanted, but for those hires you can look at their published papers to figure out how much to value their expertise.
I would imagine most hires that get promised 1m are already managing big teams elsewhere (and already making 7 digits). Not sure if that's your situation. Typically the really high TCs in finance come from performance pay or being super super senior.
TLDR I think you can expect a bump in pay if you get an offer, but don't hold your breath for anything crazy.
https://dealbreaker.com/2018/04/two-sigma-hires-google-brain-scientist-to-finally-make-this-damned-ai-thing-work
https://www.twosigma.com/insights/article/iclr-2019-our-favorite-machine-learning-talks-and-papers/
https://www.twosigma.com/insights/article/icml-2018-our-favorite-papers-on-deep-learning-gans-optimization-and-more/