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Be in a field where tech is the limit

mathiaskirkbonde.substack.com

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Re: Be in a field where tech is the limit

#171

Post by RhysU »

spekcular wrote: post #138
RhysU wrote: post #131

Earlier quoted context omitted.

> What, exactly, is the "meaningful mission" of modern tech-driven finance firms? Suppose that such a firm accepts money from a state (or other) pension plan. Then part of the mission of that firm is to provide a stable retirement for every participant of that particular pension. Know anyone on a state (or other) pension?

Do most statistical arbitrage/high frequency trading/market making shops manage state pension money? I use these terms loosely – if you want me to be more precise I can just start naming individual firms. Again, I take no issue with the firms that responsibly manage people's pensions, help the public access equity and bond markets, and so on. But those are not the firms that the people making demeaning comments about…

Here's another example focusing on just market makers and the value they provide...

Many people disparage used car dealers. The used car salesperson is a trope punching bag. They offer bad prices versus what someone can get by using Craigslist or AutoTrader or something and putting in modest effort.

But those businesses serve a purpose because they allow folks to buy or sell a vehicle real darn fast relative to Craigslist or AutoTrader or something. Like, hours instead of days.

Market makers are used car dealers. They collect a spread every time they buy then sell the same car. Or when their car inventory goes up in value. They don't have perfect information, like a used car dealer, when someone is selling them a lemon so they build that risk into their quoted spreads.

The market maker's mission is be the most profitable used car dealer they can be. Unsavory? Perhaps. But they are kept in check by competition from every other used car dealer in town. Consequently, you get a reasonable price for reasonable amounts of liquidity. Just like you do when buying a first, used car one afternoon for some lucky teenager.

The other types of market participants you mentioned also accomplish useful things. I won't go into other examples nor will I field questions about any specific firm.

And, sure, everyone wants to be as profitable as they can be. That's business. Providing valuable service to customers for the highest possible profit in the face of competition isn't unique to the financial industry.

Re: Be in a field where tech is the limit

#172

Post by ptype »

Depends what you optimise for I guess, maybe fine if you are looking for novel problems or starting a startup, but in general with regards to your career, I believe Patio11’s point on this is more accurate: you want to be part of the profit center [https://www.kalzumeus.com/2011/10/28/dont-call-yourself-a-pr...]

Re: Be in a field where tech is the limit

#173

Post by thedevilslawyer »

whateveracct wrote: post #166
55555 wrote: post #162

Earlier quoted context omitted.

You're on bigcorp welfare and you do as little work as required to not lose your benefits.

I am employed at-will and I have yearly written proof that my employer is happy with my work.

Perhaps another way to look at this: on your tombstone it reads

   They had written proof that their employer was happy with their work.

Re: Be in a field where tech is the limit

#174

Post by pjmlp »

GuB-42 wrote: post #123
Aeolun wrote: post #78

Earlier quoted context omitted.

On the plus side, the average level of engineers in Europe seems to be fairly high. On the negaive side, yeah, all the truly high talented people will leave because the salaries in Europe can be so laughably low. Trying to figure out how to move back to my home country now, but short of director level positions, there’s just nothing with a comparable salary range.

Just to let you know. I am a French developer, making around ~45k€. While I won't pretend to be "truly high talented", I am convinced that by moving to the US and I could double that. But... I don't want to. I live in Southern France, which is a nice place (with good food). I have enough money to do almost whatever I want and have savings. I have 7 to 8 weeks/year of paid leave, which I can use pretty much when I wan…

Yeah, Portuguese living in Germany, and have lived in several other European countries before.

I would rather move to other European country to ever bother with US, exactly for the same reasons you mention.

Re: Be in a field where tech is the limit

#175

Post by the_only_law »

amelius wrote: post #5
wcerfgba wrote: post #3

I am interested to learn about fields where software engineers can help to bring about innovation and push those fields forward, providing some of the tech that is missing there. I would like to apply my skills in a transdisciplinary manner and work on projects that are not just B2B SaaS products. One option is research software engineering, where SWEs team up with researchers to produce better code for models and si…

You could become a scientific programmer.

Fwiw, a vast majority of “scientific programmer” roles I’ve seen are more so looking for a “Scientist who can program”.

Re: Be in a field where tech is the limit

#176

Post by Aeolun »

GuB-42 wrote: post #123
Aeolun wrote: post #78

Earlier quoted context omitted.

On the plus side, the average level of engineers in Europe seems to be fairly high. On the negaive side, yeah, all the truly high talented people will leave because the salaries in Europe can be so laughably low. Trying to figure out how to move back to my home country now, but short of director level positions, there’s just nothing with a comparable salary range.

Just to let you know. I am a French developer, making around ~45k€. While I won't pretend to be "truly high talented", I am convinced that by moving to the US and I could double that. But... I don't want to. I live in Southern France, which is a nice place (with good food). I have enough money to do almost whatever I want and have savings. I have 7 to 8 weeks/year of paid leave, which I can use pretty much when I wan…

True, my comparison isn’t really with the US. It’s with Japan, which has most of the socialist goodness that Europe has aside from the generous leave policies (but tons of national holidays to sort of make up for it).

It also sort of implicitly includes the assumption that you still won’t work more than your 7.5-8 hours a day. Working 50% more for 50% more salary obviously is no gain at all.

That said, while I know that the word ‘stress’ didn’t really apply to my jobs in Europe, I find it hard to turn back the clock on my expectations (for both pay and work/life balance).

If I don’t go back I’m hoping I can build a little enclave of sanity for my team here at least.

Re: Be in a field where tech is the limit

#178

Post by emj »

Frost1x wrote: post #142
ZephyrBlu wrote: post #137

Earlier quoted context omitted.

It's not black and white. I'm working remotely in New Zealand making more than 45k euros with 1 YOE and my company seems to care a lot about W/L balance. I'm sure there are also office-based US companies with good pay and W/L balance.

>I'm sure there are also office-based US companies with good pay and W/L balance. They are increasingly difficult to find.

I've done work for one American company selling services in EU, the pay was beyond amazing and lots of work benefits I could never get from local companies. But work life, considering the jargon of the US managers I really wonder how people in the US have time for anything but work. I'll take less pay and happier life any day.

I think someone on HN commented on life in Denmark from a US perspective; that people are only happy because they settle for less. My personal experience is the exact opposit, better life can only come at the expense of work productivity.

Re: Be in a field where tech is the limit

#179

Post by BrandoElFollito »

GuB-42 wrote: post #123
Aeolun wrote: post #78

Earlier quoted context omitted.

On the plus side, the average level of engineers in Europe seems to be fairly high. On the negaive side, yeah, all the truly high talented people will leave because the salaries in Europe can be so laughably low. Trying to figure out how to move back to my home country now, but short of director level positions, there’s just nothing with a comparable salary range.

Just to let you know. I am a French developer, making around ~45k€. While I won't pretend to be "truly high talented", I am convinced that by moving to the US and I could double that. But... I don't want to. I live in Southern France, which is a nice place (with good food). I have enough money to do almost whatever I want and have savings. I have 7 to 8 weeks/year of paid leave, which I can use pretty much when I wan…

I fully get what you are saying.

I am French and live in the western suburbs of Paris. I have a job that does not require me to get into Paris and despite having had several opportunities, I passed.

I like the quiet environment, biking to the office, even if it means a lesser pay.

Re: Be in a field where tech is the limit

#180

Post by nicbou »

Negitivefrags wrote: post #164
whateveracct wrote: post #152

Earlier quoted context omitted.

Why would I? I'm employed at-will. I'm good with the arrangement. My employer is too. Win-win.

I wonder how your employer would feel if they saw the post I replied to? If you think they would react negatively, then wouldn’t you concede that there is an element of dishonesty here?

If you produce [salary]$ worth of value, then it does not really matter how you produce it, right?

I'm not GP, and I'm self-employed, but I think it's fair to compensate people based on the value they create, and not how much time they spend at the office. If a guy gets his work done in half the time, and his employer is happy with the cost, then everyone gets what they want.

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