$500k+ Entry Level Comp Rumors
Hearing some rumors that people are getting offers exceeding $500k in total comp (base + signing + year-end) at top firms (CitSec, JS, HRT etc.)
Is this true? Seems like a meaningful step up in pay and like last year's class got shafted.
Absolute legit, friend clearing $1.5m as a Research Analyst at JS. 1.5years out of College
Out of grad school? I know JS pays well but I'm dubious a 23 year old's making 1.5MM there.
once you get a trading book, you can easily make 5-10mm trading in a single year if you take some risk and get a few good swings...and so its easy to see that person getting paid a 1.5mm bonus at a prop firm.
how's that a rumor? citadel was paying 450k last year and I know returning interns with 550k full package this summer.
Yeah I was curious if that $550k at CitSec was true since the class that just started is only $400-450k
Yes the class that started 2 months ago was the interns last year that got 450k return offer. So new class next summer are starting with 500-550k
Yes Jefferies paying 500k in peloton value for first years
If you are a rockstar programmer coming from a top school (MIT, etc...) than yes, you can easily snag a 500k/year job out of undergrad...and within a couple years get up to 1mm+/year.
How to be a rockstar programmer?
easy, you just need 4 things
1) strong programming skills in a hard language (C++) and an easy language (Python / R, Javascript, etc..)
2) strong math skills
3) networking skills (connectivity, cloud, etc..) + database
4) a creative commercial mindset - can see the bigger picture (typically relating to algo development)
There are lots of strong C++ programmers who don't make 500k because they don't have the other items on the list.
To clarify: these rumors are for traders, not software devs.
Damn. Cit Sec grads getting paid more than the Citadel L/S guys?
Is it possible to go from top BB S&T SA to Cit Sec level shop new grad? Are there any salesy/sales trader positions that don't require the combinatorics interviews?
Not for any of the top tier market makers like citsec js optiver etc. They do all hire experienced traders with sales skillsets sometimes for trading on broker markets but I have never seen new grad positions not require strong math/stats skills (and almost always some programming). Maybe someone who works at one of those places can correct me.
Will be joining CS/JS next summer. If you are good enough to pass the technical interviews, then you can make it. If not, it doesn’t matter what your background is.
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