Home
Forums
New posts
Search forums
Online Courses
2022 Rankings
2022 MFE Programs Rankings Methodology
Reviews
Latest reviews
Search resources
Tracker
What's new
New posts
New media
New media comments
New resources
New profile posts
Latest activity
Log in
Register
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Install the app
Install
C++ Programming for Financial Engineering
Highly recommended by thousands of MFE students. Covers essential C++ topics with applications to financial engineering.
Learn more
Join!
Python for Finance with Intro to Data Science
Gain practical understanding of Python to read, understand, and write professional Python code for your first day on the job.
Learn more
Join!
An Intuition-Based Options Primer for FE
Ideal for entry level positions interviews and graduate studies, specializing in options trading arbitrage and options valuation models.
Learn more
Join!
Home
Forums
Quant Career
Quant Jobs
How do Tech guys expect to get for bonus in IB?
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="GoIllini" data-source="post: 28236" data-attributes="member: 2252"><p>I normally don't comment on compensation, but I just have to say that this is incorrect. </p><p> </p><p>I'd like to share a few thoughts on this without going into details on any numbers at investment banks:</p><p> </p><p>-If you are hired into a product-specific technology group, many of these groups used to be part of the business side and bonuses will tend to reflect that. There is an incredibly strong market for financial developers right now, and this is being further exacerbated by a shortage of new H1B visas. This is scaring many CIOs, because they know that if they aren't able to pay their technology staff well, the firm will be going back to paper trade tickets and weekly trade reconciliation. I think you said you were hired into a fixed income group, where CIOs are especially scared. A number of hedge funds and financial technology firms are picking off developers in fixed income left and right. </p><p> </p><p>-For a quick comparision, many of the people working in these groups could have easily landed six-figure jobs at Google, Microsoft, or Markit working 40-50 hours/week. If they had chosen to work for a hedge fund (albeit with crazier hours and less job security.), they could have made double that during their first year. A developer at an investment bank would typically only take a job as a financial programmer if he thought he could earn about the same amount per hour, and most firms are aware of this.</p><p> </p><p>-If you're still comparing offers, bonus is something you shouldn't be afraid to ask your hiring manager about it. Something like, "will my bonus look like that of someone at Microsoft or that of a trading analyst's?" should give you a good picture.</p></blockquote><p></p>
[QUOTE="GoIllini, post: 28236, member: 2252"] I normally don't comment on compensation, but I just have to say that this is incorrect. I'd like to share a few thoughts on this without going into details on any numbers at investment banks: -If you are hired into a product-specific technology group, many of these groups used to be part of the business side and bonuses will tend to reflect that. There is an incredibly strong market for financial developers right now, and this is being further exacerbated by a shortage of new H1B visas. This is scaring many CIOs, because they know that if they aren't able to pay their technology staff well, the firm will be going back to paper trade tickets and weekly trade reconciliation. I think you said you were hired into a fixed income group, where CIOs are especially scared. A number of hedge funds and financial technology firms are picking off developers in fixed income left and right. -For a quick comparision, many of the people working in these groups could have easily landed six-figure jobs at Google, Microsoft, or Markit working 40-50 hours/week. If they had chosen to work for a hedge fund (albeit with crazier hours and less job security.), they could have made double that during their first year. A developer at an investment bank would typically only take a job as a financial programmer if he thought he could earn about the same amount per hour, and most firms are aware of this. -If you're still comparing offers, bonus is something you shouldn't be afraid to ask your hiring manager about it. Something like, "will my bonus look like that of someone at Microsoft or that of a trading analyst's?" should give you a good picture. [/QUOTE]
Verification
Post reply
Home
Forums
Quant Career
Quant Jobs
How do Tech guys expect to get for bonus in IB?
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.
Accept
Learn more…
Top