Current undergrad at a target NYC majoring in cs and math. I plan on staying in NYC long term. In terms of TC, which industry is better: tech or finance? I know HF's pay their quants more but I'm looking to land an offer out of undergrad and have no intention of doing a phd. Am I better of doing tech (swd) or finance (qt or qd)?
Of the ppl I know who went into “high finance” out of undergrad (quant and non quant), 80% have left finance 5 years out. Remaining 20% are in golden handcuffs and not fulfilled. Agree with the above post, what will be most interesting, enjoyable work for you?
cs/statistical applications in finance
I’m in that boat. If I had to do a redo I’d just go tech. Active management is dying, assholes are more tolerated in finance and generally tech folks within finance unless quant are unfairly viewed as second class citizens (kind of like finance ppl at google).
Just say you’re at Columbia or stern and go 😂
More open SWE roles paying 300k TC vs quant roles paying 300k TC
I would recommend google APM, fb rpm or de Shaw / Jane street
Generally, megafunds and top hedge funds pay more than FANG (not initially but 3-5 years out), but the median person in tech probably makes more than the median person in finance.
Agreed - PE is probably the “most likely / safest” path to 8 figures
True. If you’re able to make it to the director level, you’re probably worth the low end of that. At the same time, it’s a hard ladder to climb filled with a lot of late nights.
I’m an engineering manager in tech for the last few years but spent 15 years in finance trading. I can promise you I left part of my soul there when I left! I learned a lot and definitely developed a lot of armour to put up with the poor culture. I got paid well though 🤷🏽♂️
If you are passionate about coding and development, I recommend Technology. If you are passionate about Finance (and Trading), I would pursue QuantFunds and Hedge Funds.
Top quant funds and hft pay more for new grad swe. If you want to do quant work, you can do that in either. The team / company matters more than the industry.
+1 there are good and bad culture firms and also high and low paying firms. Specific company is important
Intern at both places and figure out yourself. It’s not one size fits all.
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Gosh you’re what 22. Pick one and see what you actually like. Also you’re playing the game wrong. Aim to get in management. Coding is like welding. It’s a trade skill. Leetcode is for losers.
^Boomer
I've actually experimented with both for a few years actually. Since 18 I've been fascinated with quantitative applications in finance, algo trading, options pricing, etc. But on the other-hand, back-end development. Also, I'm pretty introverted by nature. I possess very little to none of the character traits a manager should have. You also seem to have a myopic and flawed view of leetcode. It is actually pretty effective.