Re:The Prestige Trap: finance, big tech, and consulting
by npip99 on Saturday November 14, 2020 @02:52PM
(#25095076)
Wait a second, am I missing out right now? I have an opportunity at Jane Street, but I haven't been exposed to any of the other small name firms. Where do I look to find the higher paying jobs?
Re:The Prestige Trap: finance, big tech, and consulting
by smabie on Saturday November 14, 2020 @03:03PM
(#25095157)
If you're early in your career, then you should probably just take the Jane St opportunity. They are very well respected and it looks very good on your resume.
If you're later in your career, you should have enough contacts and know enough people to get in the door at a small firm. If you don't know their name, you'll have a hard time getting in. These kinds of places don't post job openings on indeed. You kind of have to know someone.
Re:The Prestige Trap: finance, big tech, and consulting
by rhizome on Saturday November 14, 2020 @04:13PM
(#25095677)
One of the first things you might notice in some of the job ads for those firms: instead of "Compensation: competitive salary, 0.0x% equity," you'll start seeing phrases like "extremely high compensation." Then you'll start really feeling like you're not in Kansas.
In this vein, the tech industry screws its employees as far as their share of revenue-per-employee goes. Apple makes 10x per employee what Jane St. does, and I doubt the small firms achieve the difference.
Re:The Prestige Trap: finance, big tech, and consulting
by smabie on Saturday November 14, 2020 @04:27PM
(#25095794)
the joke goes that finance firms are employee run co-ops. And for the most part it's true: you end up keeping quite a high percentage of the money you earn for the firm. Profits are paid out to everyone, not just a few at the top.
Re:The Prestige Trap: finance, big tech, and consulting
by Tinyyy on Saturday November 14, 2020 @07:24PM
(#25096944)
From someone working at Jane Street, Apple definitely does not make 10x per employee what Jane Street does.
Re:The Prestige Trap: finance, big tech, and consulting
by rhizome on Saturday November 14, 2020 @10:44PM
(#25098053)
These numbers are easy to find, but sure, let's break out our calculators. By recent generic numbers, Jane street does $171MM revenues across 900 employees. Apple has $274B revenues across 137,000 heads.
$190,000 vs. $2,000,000. Netflix is even higher: $2.4MM. What numbers do you have?
Re:The Prestige Trap: finance, big tech, and consulting
by f9ad2451 on Sunday November 15, 2020 @10:19AM
(#25101815)
Your Jane Street numbers are not even close. They're required to report this stuff in the UK, which shows revenues of $229MM (see https://find-and-update.company-information.service.gov.uk/c...). And that's just the UK revenue - most of the business is in the US. I would estimate closer to $1MM/head.
Re:The Prestige Trap: finance, big tech, and consulting
by srtjstjsj on Saturday November 14, 2020 @10:51PM
(#25098094)
Profit matters, not revenue.
Re:The Prestige Trap: finance, big tech, and consulting
by icedchai on Sunday November 15, 2020 @12:03AM
(#25098401)
Where do you think most revenue goes? Employees.
Re:The Prestige Trap: finance, big tech, and consulting
by username90 on Sunday November 15, 2020 @12:35AM
(#25098559)
Depends on the company. For example most of Walmart's revenue goes to buying goods to sell. Apple sells physical products and hence will spend a lot of money acquiring the physical parts etc, you can't really compare their revenue to for examples Facebooks revenue.
Generally people only seek at prestigious firms like Goldman early in their career and switch over to more obscure but lucrative opportunities: prop firms, pe, hf, etc.