Bonuses (guaranteed vs. non-guaranteed) and base pay at hedge/prop firms
Hey all. I'm interested in pursuing a quant position at a hedge fund or prop trading firm. I've seen some posts of salaries, and as someone who's not familiar with how compensation works in this space, it's a bit unclear how things work and I'm hoping someone can clear things up for me.
I heard that bonuses typically make up about 50% of a quant's salaries. For bonuses, I heard that there are guaranteed as well as non-guaranteed bonuses. Is it generally better to have a guaranteed bonus? Is it also more common for bonuses to be guaranteed or discretionary?
In terms of guaranteed bonuses, what would be the advantage of that vs. having a higher base pay instead?
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