I’m a student and I got an offer at FB for a summer internship. The pay is 8K per month (translates to 50 per hour) plus housing (stipend 1600-1800 per month if I choose). The pay is great but it’s not crazy relative to other places I got as well. Lyft is paying 60 per hour, Oracle pays 46 per hour, Bloomberg is 47 per hour, so the numbers seem comparable. Quant firms (which several friends go in) are paying 70-86 dollars per hour (Citadel to Jane Street). I also got offers from Finance firms (Fred Alger, Goldman Sachs) and consulting (BCG). Fred Alger pays 6000 per month and BCG is 7500 per month. I’m wondering what the salary compensation looks like in the future. If choose SWE, what is my expected TC by 30 (10 years from now) assuming I hill climb positions and stay within FAANG? Does FAANG pay better in the long run (includes bonuses and stock)?
Consider 1) what and from whom you’ll be able to learn. I’d bet you’ll learn more at FAANG than at Lyft/Oracle/Bloomberg/GS. BCG is a completely different line of work 2) “prestige” - FAANG will look good on your resume 3) WLB - wouldn’t be surprised if you had to slash those Citadel and Jane Street numbers in half If your main goal is TC (and dont care about WLB) and you can make it in quant world that’s probably your best bet🤷♂️
Jane Streeters work fewer hours than even the slackers at Google. JS is 30-35 hours WFH I hear. Citadel is a shitshow though 60-70 hrs a week WFH. FB has worse WLB than G but FB pays more. Pick your poison. Quant firms > FANG in terms of prestige. Anyone can land a job at FANG by memorizing 300 leetcode. Technical growth, FANG is best. They're at the cutting edge of software. Unless you're into hardware/ASICs, go to FANG.
Surprised by JS but agree with everything else👌
Think about your longer term career. FAANG gives you immense opportunities in terms of technical challenges and working on high impact, high visibility products. Trading firms will beat on TC but the work may not be as fun (my personal experience, having been in both). FAANG also has opportunities to move into product management and engineering management tracks, which will open up more options for you down the road.
If you got Citadel/JS/HRT, take it. Forget FAANG. Otherwise, take FAANG.
I agree with citadel
What about 2sig? Which of thr faang would you pick over 2sig (new grad)?
FB internships also come with return offers that don’t require re-interviewing, and FB intern managers (hi!) really do our best to make sure you have a good experience regardless.
Congrats! Just wondering, did you apply with refer?
Didn’t get referred for FB, but I go to a target school. Surprisingly I never got interviews for the places I was referred to ...
Run
After 3-5 years at FAANG as a median developer you’ll finally hit new grad quant firm developer numbers. The HFT firms are much more prestigious and selective than FAANG, so if you get those offers and are even somewhat interested you should try it.
Intern salary is not representative of full time TC. For example, Jane street pays more than 1.3x FANG TC. And FB pays more than Lyft. MBB pay is utter shit: maybe 120-150K full time. All of this is including stock appreciation