That's the difference between working for a company vs. starting a company, the lower risk of being an employee comes at a high price unfortunately.

Wow, that's it? I mean that's a lot (objectively compared to most people's compensation), but I think my skip manager makes that much...

*Cries in fortune 500 wage slave

He’s not the only person making ground breaking research in neural networks.

You can walk into NIPS and find a handful of other researchers that perform at or better in this space.

Yeah that’s pretty insulting, honestly. Black or Sholes were making >10m as thought leaders in banks. It’s surprising to me that finance is so passe as a career despite the fact, as Matt Levine said, “they are run as employee run co-ops.” In otherwords, big big money. Entry level analysts at my old firm were making over 250k total comp.

Didn’t Black & Sholes win a Nobel Prize? I don’t think it’s fair to compare their pay to that of “mere” experts, even in the same field.

Scholes & Merton also joined a hedge fund that traded based on their models and cased a financial crash after the Russian bond default in 1998 which their models didn't take into account. Great example of a black swan event.

https://en.wikipedia.org/wiki/Long-Term_Capital_Management

It's only a black swan event if you pay no attention to geopolitics, which unfortunately banking types don't, at least not beyond WSJ/FT headlines.

A more accurate statement would be that most fund managers care about geopolitics too much, and quants too little.

People in tech generally have no clue of how much money gets made in finance

Just put your hand in the giant rushing river of money and see what sticks...

The oyster farmer eats more oysters than everyone else. The money farmer eats more money than anyone else.

> People in tech generally have no clue of how much money gets made in finance

People in everything have no clue. Nothing to do with tech people being ignorant.