I’ve been interviewing for quant researcher roles at a few places, and things are starting to get real now that I’m a few rounds in. I decided to interview mostly because I hear the money can be great and, well, I like making money lol That said, I don’t really know much about what quant research is like or what to expect. What should I expect compensation to look like for quant research and how does it compare to applied/research scientist comp at FAANG? (Bonuses are where the big bucks come from, but what should I reasonably expect?) What should I keep in mind/know to have the best chance to thrive if I do get an offer+decide to make the switch? Folks who have made the switch from a research/applied scientist role at FAANG to quant research, how do you feel about your decision in hindsight? What were some of the biggest differences? What was most shocking for you? What do you wish you had know? Thanks in advance Blind Tax: TC ~330k (until next year when I get paid half in stock…) YoE 1+PhD #quant #buyside
Having been in quant before, I can tell you it's not an easy life. Crazy work life balance, not a lot of collaboration and very walled of secretive culture, lots of politics and scope stealing, and massive job instability. What tech is going through right now is just a regular Thursday morning in quant. So be careful blindly chasing that TC, you might end up with it being 0. Also they don't count quant experience here in tech so it won't count towards your YOE much.
Thanks for the insight! The point about instability is very helpful. Could you also give me a sense of what the TC increase might even look like at the worst (but good enough to keep a job) vs usual vs best? I know you won’t have exact numbers, but I’m trying to get a sense of the trade offs to realistically expect. I’m a bit bored and open to chasing TC, but have to admit that my WLB:TC ratio is pretty great at the moment (like almost embarrassing to admit to non-tech folks type of great)
How the fuck are you getting interviews? I work in QR at a bank and cant get fucking interviews anywhere. I have a relevant PhD, but not from HYPSM :(
Honestly not sure, but probably a bit of LinkedIn SEO luck. My PhD isn’t from HYPSM either, but is in Alg Econ and from a top (non-ivy) school. Hope your chance comes up soon!
How did you prep for quant roles? Direct apply or recruiter reach out?
Recruiter reached out. Honestly not much specific prep since first round was coding (which I prepared for generally) and afterwards was more about my previous research experience/topics having to do with topology/analysis/related topics which I’m pretty comfortable with due to my PhD work.