I'm trying to evaluate two new grad offers: Hedge fund - Position: Quantitative Developer (in research team) TC: $170k base + performance bonus Facebook - Position: E3 (entry-level) software engineer TC: $124k base + $40k stock + bonus What are the career progressions like for quant dev? If I don't like one, can I switch to the other (which way is it easier to switch)? #faang #quant #swe #drw #akuna #citadel #amazon #apple #google #facebook #netflix #ts #twosigma #js #janestreet #imc #trading #imctrading #deshaw #virtu #flow #point72 #jump #aqr #bridgewaterassociates #finance #interview
Which hedge fund? And are you graduating this year, or is this after 6 or so months of working FT?
I won't name the hedge fund for the sake of anonymity, but they are large with many billions in AUM. These roles are for directly after graduation.
Hedge fund probably. Bonuses have been 200-300k
Can you explain the difference between a Quant Developer and a SWE at the hedge fund you are considering? I worked at TS for a few years and the distinction can mean one person gets paid/recognized more than the other.
Quant devs work with QRs on the research team, whereas SWEs are more IT responsible for the infrastructure of the firm.
HFT swe is quite different from Hedge fund swe. The two are not synonymous, and there should also a distinction between a quant dev at HFT and one at HF. And a two sigma swe is more in the hedge fund category than HFT.
Take the quant dev position, higher upside and you can always move back to tech. We don’t really hire from tech so taking FB now would have some financial/psychological opportunity cost eg “what if…” down the road.
Solid advice. Wondering why desco does not hire from tech tho. Seems to me cit does that a lot
What background is desired for quant dev role
You won’t learn as much as a quant dev. Facebook pays well so the tc difference for growth isn’t a factor. You’ll have far more job opportunities going forward with meta in your resume than you will with a hedge. It’s to special purpose.
Do either of the positions offer a sign on bonus and also have you been given any guidance on a minimum/target bonus for the quant dev role?
It depends on which hedge fund. If you cannot disclose here, cannot help.
I think quant dev is the better option here. You should’ve made a poll though
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