If quant firms pay more than FANG why don't people work there instead? TC: intern
Depends. Very bonus dependent. Terrible people management, firing season is right before bonus season. So you could literally lose half your pay for the year bc management are assholes by design. Very white, very old money controlled, little opportunity to breakthrough unless you build your own algo trade firm.
You're a racist... Very white? Wtf??
Here is why. If the firm is very white chances are because they never really tried to hang out with any poc. They also tend to attract other folks who are not very sensitive. (Crap like everyone should have an angelo name)(demonizing some immigrant who missed a cultural reference) It ends up like a grown up version of a frathouse. It’s not illegal or anything, just that I would rather stay away from it. There are companies where you can work earn a decent wage and not trade soul or dignity for that.
Wlb. Tell a Quant you work 35 hours a week and they will think you meant just on the weekend lol.
I have some experience with both - FANG is by far a superior choice. The pay isn't actually higher on the average but your maximum can be sky high. Lot of variation in pay. But overall, the stress levels and the culture is just awful. Needles to say, it's hard to plan a life if you don't know how much you'll be making next year. Super luck dependent.
So if you keep on sucking on your bosses dck and work 60 hrs a week you'll make a lot? Sounds like fang is better as you said.
No, how much you make doesn't depend on your boss but the market. Either way, the lifestyle doesn't leave room for living well.
Eh our new grad classes are like 30 people and we’re one of the larger ones. Headcounts are just low.
Don't they give grads 300-400 standard? Read that from a previous blind post.
I have a friend who had a new grad offer from 2s, it wasn’t that high
Not every quant firm pays well... The ones that do don't have enough headcount for all the people who would like to get in. Then there's the issue of wlb and risk. You get a sweet top of the range offer from Google, you've just locked in that comp for 4 years, and from what I hear, you don't need to work all that hard for it. No one in finance gives any kind of pay guarantee going out more than a year.
So why not strike a nice offer and leave to FANG? Want to learn from a GS guy/gal.
I personally don't want to, hoping to strike it rich faster while working harder lol. Definitely about time for me to get out though as I near the 2 year mark.
There's certainly variation within the industry, but I recognize almost none of the negatives that others have claimed to be avoiding. The more likely reasons are that 1) you basically have to live in Chicago or NYC (for the US), and 2) we just have a really low headcount so there isn't room here for as many devs as at FAANG. And I guess 3) generalizations about the industry that don't actually apply to top firms, based on the comments here.
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People do....it is competitive and they for sure have less open positions then FANG. The high TC is also bonus not stock based which can make it more of a roller coaster ride then growth of fang stock