I've been getting interest from many recruiters in the quant space. I chose Google because nk shop guaranteeds bonus after first year while Google was almost all guaranteed. I'm interested in: HRT, Two Sigma, Jane Street, DRW, and Vatic specifically, as those are the ones contacting me. Definitely looking into others like Tower and DE Shaw. Do any of these firms guarantee bonus after the first year or have a bonus floor? I would definitely like to be there if they do but it's hard as a new grad to take the risk of not guaranteed comp when I can make guaranteed money here at Google. To those who just say 'interview'c these companies have some of the long processes I know of, it'll be a massive waste of time if I end up in the same situation I was in out of undergrad. Looking for answers from people who've gotten offers from these companies only please, not just speculation.
Except death
They're guaranteed in the sense that if you're not good enough after the first year to earn that bonus (or more) then you will just be fired.
Anyone know? Got an offer from one firm from that list offering a ~100k TC cut and all they will do is give vague promises that “high performers will do much better” but won’t give any details about the bonus. Not super appealing to gamble a solid FB position with vague promises. Even with the FB stock drop it’s still a significant pay cut.
I wasn't exactly in this situation but this is what I'm referring to. The first year cash comp is great but they don't seem to guarantee anything after that, whereas in tech you can negotiate equity for 4 years.
Yea. Facebook gives amazing bonuses and promotions for high performers so without more details confirming their bonuses are significantly better for the same performance level it’s not worth jumping to FinTech IMO.
My friend is working for a FinTech company and he is given pretty awesome bonuses like 2/3 of his compensation. I heard that at least in his company 50% bonus is kind of expected but they do not guarantee it.
Citadel pays quants shit
If you’re at a good shop like de Shaw or Jane or two sigma and have a good year, it’s not abnormal to make 1-2x your base as a bonus. No it’s not guaranteed. And lots of people I know who retired with a lot of money at 30 and then went on to do work that was less lucrative.
Isnt that only for non-dev roles like trading and quant?
Nothing in life is guaranteed
Bonuses tend to go up from the original guaranteed number. I don't know if there's room to have your bonus go down without being fired.
This is probably the standard model. I know Optiver has a bonus range each year with a minimum number, which I think is best, but don't know anyone else who does
Unless you ran a successful trading business at a competitor, no one will guarantee a bonus beyond the first year. But there's an implicit guarantee that if you last till year 2, your bonus will be higher than year 1. Is maximizing comp your only objective?
@OP: Mind to share what base+bonus you were offered? (Feel free to PM, if you hesitate to post in public). Also, how many YOE do you have, like which levels at Google? I often get contacted from some of these firms for ML role, but never bothered to initiate a discussion. Understanding the top range (expected TC, rather than top performer’s TC) would help consider this, perhaps for a brief stint! Hope that doesn’t harm to come back to Tech, if one doesn’t find it suitable. Thanks!
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Nothing in life is guaranteed