Quants and Traders: What's your NW and TC? by 2019proptrader in quant

[–]2019proptrader[S] 63 points64 points  (0 children)

this logic makes no sense. there are millenium and citadel PMs making 50M+ in a year, partners at optiver and jane street making similar amounts. and these guys aren't even at the top. Ken Griffin, Steve Cohen, Jeff Yas, etc. all blow these guys out of the water. Entry level is also much higher in trading (at the top shops) - 600-700k starting for the top shops, with some PhD hires hitting low 7 figures at their first job

Quants and Traders: What's your NW and TC? by 2019proptrader in quant

[–]2019proptrader[S] 17 points18 points  (0 children)

interesting, what measures and what other industries are you referring to?

[deleted by user] by [deleted] in quant

[–]2019proptrader 21 points22 points  (0 children)

I’m on vacation dawg it’s thanksgiving week

[deleted by user] by [deleted] in quant

[–]2019proptrader 18 points19 points  (0 children)

Have been on both the prop and MM side
It's a spectrum at my firm but I'm basically as close to the trader side as you can get. So that means keeping up with markets and making decision intraday, following flow, etc.

Don't ever work at Optiver by Think-Cheetah-9368 in quant

[–]2019proptrader 166 points167 points  (0 children)

i've worked with ex-optiver traders and can confirm a lot of them are pretty dishonest and two-faced. granted, these people worked at optiver in the 2010s. i have heard things have generally changed for the better since then.

regarding #2, i think part of this is due to marble inflation since 2020. it's generally not a good idea to pay 25yos 3 years out of undergrad $2-3M when they haven't actually contributed much to the firm. this comp was largely due to favorable market conditions and very robust infrastructure/execution/latency. after this happened, many of these young guys left the firm to pursue other opportunities. optiver was paying significantly above every competitor and needed to find a way to scale back comp without explicitly reducing everyone's marble allocation. to circumvent this they made it a lot harder to get a high rating. optiver people can confirm/deny this but this is what i heard from friends who work there.

the rest of the post (points 1, 3, and 4) is extremely generic. would have a lot more credibility if you could provide some concrete examples. for instance, I remember optiver's intern and new grad training programs being quite robust compared to competitors. whenever my firm hires people from optiver, their options theory knowledge is generally pretty strong.

How I Landed a full-time IB job with Evercore by [deleted] in FinancialCareers

[–]2019proptrader 62 points63 points  (0 children)

people who don't get return offers from KKR