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samyonez
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tired of meaningless "what's quant pay" Qs

March 5th, 2007, 2:28 pm

There are plenty of threads on the forum "what does a quant get paid...."; "what salary should i expect...", "how much will i be paid in 5 years..." etc. Like "which is the best school?", no-one is going to get a sactisfactory answer to these; there are too many degrees of freedom, the most obvious both being "non-disclosables", namely does your business make any $, and are you actually any good.Let's try to normalise & simplify a bit.I work in a team of N guys. We all exist in the job-space in the triangle whose vertices are trader, quant, developer. I'm nearest the quant vertex. We made $Xm this year, which is roughly on budget. I've been there a few years, i'm not the desk head, i'm not the junior. I think I contributed as much as the next guy to that $Xm pnl. What is C, my slice of it?Some guidelines:C may be a function of X, of budget, of team size, or any other variables, but lets keep them observable & tangible. On the non-tangibles, for example "do i get on with my boss", lets assume a hypothetical score of, say 65% to 70%.(btw, i guess on that triangle, || trader - developer || > || trader - quant || > || quant - developer ||)
 
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mama
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tired of meaningless "what's quant pay" Qs

March 5th, 2007, 2:45 pm

QuoteI work in a team of N guys.So, they are all called 'N'?
 
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samyonez
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tired of meaningless "what's quant pay" Qs

March 5th, 2007, 2:53 pm

er...ok...not sure i was clear; this is a fictional scenario, any resemblance to persons either living or dead is entirely coincidental. Also, another thought, is C dependent on location? (lets keep location a binary variable, Ldn or NY)
Last edited by samyonez on March 4th, 2007, 11:00 pm, edited 1 time in total.
 
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caonima
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tired of meaningless "what's quant pay" Qs

March 5th, 2007, 4:02 pm

QuoteOriginally posted by: mamaQuoteI work in a team of N guys.So, they are all called 'N'?i think u guys should know NYC symbolically banned the N word already, please don't even think about it, not mention saying it
 
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Traden4Alpha
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tired of meaningless "what's quant pay" Qs

March 5th, 2007, 4:17 pm

Your ordering seems correct - the trader is closest to the money-making side of the venture and the quant is closest to the secret-sauce side of the venture. The developer might be considered a support person/code jockey. I'd add these three factors:1. Who does the boss like the most? (you mention "getting on with the boss" but what is the boss' ordering)2. Supply-side issues: Who is the most replaceable in the job market?3. Complaint-flow: Who complains about whom? (the recipient and, to a lesser extent, the complainer would get less)
 
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starry
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tired of meaningless "what's quant pay" Qs

March 5th, 2007, 6:05 pm

Might also need to consider G, the amount already allocated to new people in guaranteed bonuses
 
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samyonez
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tired of meaningless "what's quant pay" Qs

March 5th, 2007, 10:26 pm

jeez guys...(1) i meant this thread to cut out the waffle & bluster about what variables affect comp in the industry (i think we all know that they are many: could discuss for hours & get nowhere) and get peoples solid opinion/experience on roughly what cut of pnl should come the way of a good front office quant ,since jobs ads always only say, e.g. $100k+bonus, without indication of total comp level.(2) i seem to have confused or offended some people by using the letter "N" to denote "an arbitrary positive integer quantity", being under the impression that this was something of a tradition in scientific & mathematical fields. sorry.
Last edited by samyonez on March 4th, 2007, 11:00 pm, edited 1 time in total.
 
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TraderJoe
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tired of meaningless "what's quant pay" Qs

March 5th, 2007, 10:31 pm

QuoteOriginally posted by: caonimaQuoteOriginally posted by: mamaQuoteI work in a team of N guys.So, they are all called 'N'?i think u guys should know NYC symbolically banned the N word already, please don't even think about it, not mention saying itLondon too.
 
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ppauper
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tired of meaningless "what's quant pay" Qs

March 6th, 2007, 2:54 pm

QuoteOriginally posted by: caonimaQuoteOriginally posted by: mamaQuoteI work in a team of N guys.So, they are all called 'N'?i think u guys should know NYC symbolically banned the N word already, please don't even think about it, not mention saying itwhat does `N' have to say about this ? or is he too busy writing his books ?
 
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caonima
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tired of meaningless "what's quant pay" Qs

March 6th, 2007, 6:28 pm

QuoteOriginally posted by: ppauperQuoteOriginally posted by: caonimaQuoteOriginally posted by: mamaQuoteI work in a team of N guys.So, they are all called 'N'?i think u guys should know NYC symbolically banned the N word already, please don't even think about it, not mention saying itwhat does `N' have to say about this ? or is he too busy writing his books ?nothing special, it is just forbidden to say the "N" word in NY and London. part of the reason is that both cities are most important financial hubs in the worldsimilarly, if you say "i bump into david or whoever" while chatting with personal friends in NY or london airports, u'll be arrested since u suspect of saying another prohibited word
 
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starry
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tired of meaningless "what's quant pay" Qs

March 6th, 2007, 7:16 pm

Samonez: your opening post was the clearest explanation I've seen about why comp discussions on here never work. Even after your attempts to normalise, there are still (as I'm sure you know) too many remaining unknowns: do you have any irreplaceable skills? are you the sort of person who's likely to leave? how good's your negotiating? And why should some random anonymous Wilmott member's claim be any more reliable than your own carefully formed view?I don't see any way round this. If you can think of a way, please let me know, as I'd also like to get some more market data.TraderJoe, ppauper and caonima: I know nothing about any forbidden N words, but an F word springs to mind... wtf are you all on about?
 
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caonima
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tired of meaningless "what's quant pay" Qs

March 6th, 2007, 9:11 pm

QuoteOriginally posted by: starrySamonez: I don't see any way round this. If you can think of a way, please let me know, as I'd also like to get some more market data.TraderJoe, ppauper and caonima: I know nothing about any forbidden N words, but an F word springs to mind... wtf are you all on about?Dear Sir,Now we know you are completely a newbie. The F word is a must on trading floors. Even female quant traders use it every minute.....
 
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spice
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tired of meaningless "what's quant pay" Qs

March 6th, 2007, 9:13 pm

QuoteOriginally posted by: caonimaQuoteOriginally posted by: starrySamonez: I don't see any way round this. If you can think of a way, please let me know, as I'd also like to get some more market data.TraderJoe, ppauper and caonima: I know nothing about any forbidden N words, but an F word springs to mind... wtf are you all on about?Dear Sir,Now we know you are completely a newbie. The F word is a must on trading floors. Even female quant traders use it every minute.....Yeah, one can tell who the traders are, easily!!!
 
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ppauper
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tired of meaningless "what's quant pay" Qs

March 7th, 2007, 1:42 pm

QuoteOriginally posted by: starryTraderJoe, ppauper and caonima: I know nothing about any forbidden N words, but an F word springs to mind... wtf are you all on about?no, sorry.We have an `N' and a 'J' but no 'F'
 
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migalley
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tired of meaningless "what's quant pay" Qs

March 7th, 2007, 1:55 pm

QuoteOriginally posted by: spiceQuoteOriginally posted by: caonimaQuoteOriginally posted by: starrySamonez: I don't see any way round this. If you can think of a way, please let me know, as I'd also like to get some more market data.TraderJoe, ppauper and caonima: I know nothing about any forbidden N words, but an F word springs to mind... wtf are you all on about?Dear Sir,Now we know you are completely a newbie. The F word is a must on trading floors. Even female quant traders use it every minute.....Yeah, one can tell who the traders are, easily!!!I'm not a trader, but I certainly have no qualms about using the F word. So using that as a criterion for spotting traders is not 100% certain.