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they get paid well, but they're also doing work of dubious value. i left trading because i wanted to do something that i knew would make a positive impact on the world.
Unless they're getting paid at a rate determined by regulations, by definition the value of their work is what their employer is willing to pay.
they get paid well, but they're also doing work of dubious value. i left trading because i wanted to do something that i knew would make a positive impact on the world.
>they get paid well, but they're also doing work of dubious value. Unless they're getting paid at a rate determined by regulations, by definition the value of their work is what their employer is willing to pay.
1. Be really smart
2. Be willing to do something that's deadly boring to most smart people
Me? I'm a scientist. I'm not gonna write your goddamn binary tree pricing algorithm or remove your varicose veins or argue about some dull point of legal text in court. But I'm sure I'd be a lot richer if I did.
(In other news, man, those grapes sure look sour, I'm glad I can't reach 'em.)
Earlier quoted context omitted.
I was pretty shocked with I saw that guy said he hoped to make $500k for the year. Sounds like the profits aren't making their way down to the developers.
The reason why profits don't flow down is because the buck doesn't stop with them. There are plenty of developers making much more, but in those cases they take the fall if a trading strategy loses money. Those developers that do take the risks make more if the firm makes more money, but also lose their jobs if they make a really bad trade. Same is true in other software development outfits as well. Lower-level progr…
I have a friend who works in trading. He's very sharp and very smart and has friends who work for D.E. Shaw. I used to ask why he didn't go work for D.E. Shaw and he said that he would never survive the interview gauntlet there. And most importantly, he would not be smart enough. Now, I know how good at math my friend is (he used to win Games t-shirts - from the magazine and studies math at graduate level). And now w…
They are specialists. They specialize in optimizing the crap out of very specific algorithms. I would much rather take a pay cut than work all day on optimizing stuff. For the money that they pay the work sounds extreamly boring (imho)
How to get a really good salary: 1. Be really smart 2. Be willing to do something that's deadly boring to most smart people Me? I'm a scientist. I'm not gonna write your goddamn binary tree pricing algorithm or remove your varicose veins or argue about some dull point of legal text in court. But I'm sure I'd be a lot richer if I did. (In other news, man, those grapes sure look sour, I'm glad I can't reach 'em.)