Moving between finance firms
So it’s well known that the best way to bump pay early in your career is to jump between companies. For places like (Two Sigma, Jane Street, DE Shaw, Citadel, Hrt) is it easy to move between them for comp bumps or to move at all. I’m talking for dev/quant dev not pure quant
You'll be recruited by other firms aggressively, but passing their interviews is a different challenge. They don't make it easy.
I’m not too worried about passing the interview, but whether or not the opportunities will be there
^^ how can you be so sure? I know few in faang who haven’t been able to crack the onsites
Not that easy to move between firms since for some of them the non compete is quite strict (> 1 year). Unless you’re a superstar, it would be difficult for any of those firms to want to wait for that long for a talent. That’s why those companies also like to hire from big tech co.
Hm do they enforce non compete for devs?
There was a thread on this recently.. it varies a lot
You can still hop, and it's up to you whether to spend a year at a tech company vs. take a year long vacation. The job hopping approach doesn't work as well at small companies, since a lot of your value is in building trust and familiarity.
How does the year long vacation work for H1b employees ?? Or are they forced to go to non-Finance companies ?
Would you recruit at another firm and they agree to wait a year? Or you have to leave to tech co and go back and interview later.
Why move from software to finance where you will be viewed as a cost instead of revenue, plus there’s much smaller demand for quant than sde
Why ask a question that shows you are ignorant. Do you real think your CFO puts its software engineers in the revenue row? Of course not, your pay is a cost to the company and you guys hired a CFO to show public investors you know that and can manage those costs. Meanwhile we don’t have a CFO, or public investors, and know our people are our most valuable asset in the extremely competitive field we’re in. And most of our people are engineers.
In accounting terms every employee is a cost but some are viewed as more critical to the success of a company. Naturally software companies value sde more and finance companies value more about traders, sales, businessman. There maybe exceptions but that’s the general trend. Maybe two sigmas does things differently and I’m just talking based on my experience and what I saw and heard. More specific question is how fast your engineering/quant team is growing
My experience has been that comp increases appropriately with experience, such that hopping isn't actually beneficial.
My experience is that in the past < 5 years I’ve never been able to find an opportunity to leave Jane Street without a significant pay cut given my YOE.
How actively have you pursued other offers?
Do you get downleveled or something? What offers did you get
I want to work remote in tech -- most banks aren't allowing it anymore. Are tech firms reeling back wfh ?
turned down Google offer for Citadel but Citadel revoked my offer later. Have to stay with Amazon with no life for longer.
Why did cotedal revoke the offer? Can you take the Google offer again?
Heard that Google offer is valid for a year. There's a specific HR team in Google for decliners and Xooglers
First get in to one, then ponder this great question as well as the meaning of life. Life is very much like “The Bachelor“.
I have an offer... that’s why I’m asking
Offer from where ?