Re:How Big Is The NYC Tech Sector?
by bigbang on Tuesday October 29, 2013 @03:12PM
(#6636699)
I'm not sure how much bonuses software engineers get. I've heard it's great for bankers, traders etc. But do software engineers(who work on building infra/tools, not the kind who write trading algos) get paid good bonuses as well? By good I mean 30%+
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The closer to the trade you are the higher bonus is as a percentage of your total comp. I did mention "front office" in my original post.
- Infrastructure is vital to most trades. Bonuses are going to more than 30% if you're on the cutting edge here - prop shops, some technology oriented hedge funds, and some banks.
- If by tools you mean GUIs then no.
- Engineers who write trading algos (or more likely algo components that are used by a trader at a higher level) will have a bonus that is more than 30%.
Thanks for the clarification. Is it feasible to get into a prop shop or hedge fund as a programmer and "graduate" to trader? How common is it?
Common enough. Skills are so specialized thhough that it doesn't always make sense to switch though. Its a different career track, not a promotion. Top end trader will make more but top end developer will make more then the average trader. You should focus on what you are good at.