Hi!
Friend (aspiring quant) is in an interesting position. Has an offer in machine learning from a top BB which he accepted. However now he got an offer from another top BB in trading.
I told him to move to front office immediately
Aug 25, 2020
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never ever do IT in BB.
never ever do machine learning in BB.
neither of these pay well no matter your developer , data scientist or quant
I agree mostly, but I recently received a strat (quant BB) VP offer ~250k though, Tech BB (AI ML) was ~230k with a bit less stress. I wouldn't call that bad pay for 45h weeks. Comparative FAANG was around 300k but the team was not interesting at all.
curious - what's the bonus for 250k VP quant position?
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This is all NY expected base+bonus comp. The bases at the BB were the same (180k for 40h weeks, overtime separately), the teams were very different. Strat offer was on the AM (hedge fund strategies) side of the bank and the average bonus was about 70k for VPs, tech offer was on the trading side and the average bonus is 40-50k for VPs. I guess you can add ~30k to both due to overtime being paid outside of the bonus. Thus, all-in the offers were about 10% less than the FANG offer for NY I had, however the FANG offer was heavy on the stock vesting and I didn't like that. Took the strat VP offer as the job involved at least some math and I really wanted that.
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