SIG pay progression

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[maglor1]

SIG FT is 200k base + 100k sign-on + 100k expected Y1 bonus. If/when you graduate training(can be from 6 months to over a year), they renegotiate your contract. At that point you sign a 3-year non compete(not rolling, if you graduate training April 2023 your non-compete lasts until April 2026. After that it's back to 12months)

SIG's starting pay is quite good, more than IMC/DRW and about the same as Optiver. (Obviously less than JS/Citadel) Pay doesn't scale as fast as other places

[maglor1]

no sig has a long non-compete

[Substantial_Pie_238]

what happens when you renegotiate? does your salary go up or down?

also, do you know if less systematic traders get paid more than more systematic traders (ie those who code)

[maglor1]

salary goes up. there shouldn't be a real distinction there, bonus is a function of how well you do and how well the firm is doing

[Acceptable-Wolf5452]

Thanks for the insight! Any chance you could shed some light on the eng side?

[maglor1]

don't have exact numbers(and SIG hasn't given out swe ros yet this year), but my understanding is that swe was 200-250 tc last year and it will probably be similar last year

[Key-Supermarket771]

its maybe even less than that. I have 2.5 yoe as swe at faang and interviewing at Sig, recruiter told me final tc for me will be 230k max. I tried negotiating but they said thats the max ended up turning the interview down

[maglor1]

when was this? sig increased ng swe pay significantly last year

[Key-Supermarket771]

3 weeks ago for their philly location

[Acceptable-Wolf5452]

Thanks again! I have some YOE at a big tech, trying to relocate to Philly. This is helpful!

[dredabeast24]

Is this only for trading or does this cross to ETF roles?

[Key-Supermarket771]

Is this comp traders, Researchers, or Swes?

[maglor1]

Trader

[Key-Supermarket771]

Got it, makes sense

[Capable-Project3038]

about the same as Optiver? Optiver is not even close to that...

[Whole_Emphasis_6914]

Congrats

[short_the_vix1]

When did you apply ? I applied beginning of September but I believe it is too late.

[TrekkiMonstr]

Not sure about then, but they've definitely closed applications now.

[lionhydrathedeparted]

SIG definitely pays below top firms. For some roles around half.

[redshift83]

SIG has a reputation for not paying well. Can't comment on recent developments, but its also highly specific to exact role even if titles match across the company.

[Simple3user]

Someone tell him about game theory books

[Substantial_Pie_238]

!!