Wow, I really appreciate the video on the compensation of a quantitative developer, and if anything this made me even more eager and motivated to stay on my journey. Keep posting the great videos and content. You’re someone we look up to for many of us. Thank you🙏🏽
Fuck. My buddy has been a quantitative developer for HFT firms for solid 20 years. I had no idea he was balling this hard. The dude doesn't spend any money.
This kid is a millionaire take his advice wisely. He ain't any ordinary guy. He's only in his early 20s. I'm just finding out about this world. So far things are good. Thanks coding Jesus.
I can confirm the mid-level; albeit a little bit different title. I was a mid-level Data Scientist at a large asset manager and made $157,500, 25k sign on bonus, with 50% year one bonus. ~250k total.
This was really informative and got to straight to the point. Question - outside of ability to code what other skills are companies looking for when hiring intern or junior quant devs?
This is all very interesting, what are your thoughts on places such as Renaissance technologies and the types of quant devs found there? Would love to hear your thoughts! From a fan in Sydney au :) keep up the great work 👍
Hi Coding Jesus, really love your no-bs content. I currently work at a boutique equity/fixed income brokerage as a trade support analyst (essentially on the desk with the traders allocating and doing all the bs after execution), however the role is so boring and robotic. Really want to pick up a coding language and pursue something where I can merge my interest in the financial markets and programming/creativity, what do you recommend I do? And what kind of roles do you think I could pivot to?
The only thing you said that I take exception with is that someone with 20 years of experience is worth a lot more than someone with 7 years experience. Pretty much nothing you did >7 years ago has any value in this field ;). But yes, I said "worth" not what you can pull down, perhaps someone with 20 years experience can pull down more, but they aren't worth more. And years of experience is also a terrible way of assessing value, aptitude and raw talent are MUCH more important and specifically with quant trading software, its simple, what APR did your algo return in real world use and what level of risk/volatility did it require? Your value is based on that alone really, although being able to update strategies over time is also critically important, no one wants a one hit wonder and that's where years of experience matter most.
One thing I don't understand. If you developer who has developed algo that produce 20 million for the firm... Why the hell are working for someone else?! Why couldn't you just use the algo to trade for yourself?
@@binarytekk Man has a point. In terms of Infrastructure... the advantage is more on HFT side and not algorithms. I am developer and that is typical excuse that only because of infrastructure. I don't believe that. What good are high speed networks, ultra low latency networks, mission critical servers, etc if your code is garbage? CJ content is great, and he valid points about day traders/trading gurus. But one thing I can tell is a lot of his criticism is based on jealously towards successful traders. He couldn't make it so he consistently put down others. Why does he care so much about day traders? If they make or lose money let it be.
@@sunnyg5941 exact, I know quite some people that make trading bots for themselves and are doing very well. But, this is a risk you have to take. You can work for a boss and get a paycheck every month or you do everything on your own ( capital etc ). Not everyone is willing to risk there money and time for it, but for the people that do and become successful with it, they are enjoying life.
My friend codes here in India and makes around USD 100k in India. Which is equivalent to making 500K ( purchasing power parity terms) in the USA. I think he has a better deal.
I appreciate your channel. Thanks for creating the material. I stumbled upon your channel and to be frank I've considered a career change from healthcare to what your doing. It's helpful to have you talk about it all.
ever considered a video talking about some of the prominent MMs and systematic funds? there's not a ton of information online, might help prospective Quants to narrow their application focus
There’s not a ton of info for a reason. These firms are secretive and don’t appreciate being put on blast because they don’t want the Bernie Sanders of the world tweeting about how they need to be regulated and taxed more. Anyone affiliated with the industry doesn’t want to burn these bridges. They want to stay within the walled garden and quietly make big money. Historically, it’s been a word-of-mouth industry amongst really smart people at elite schools; it’s invite-only.
Thank you for the video ! Can you please tell us how those numbers are compared to what Quant Analysts get ? Also are Quant Devs appreciated enough in their firms ? Because compared to Software Engineers in Tech companies, Quant devs do not seem to be the heart of the business model..
Dear Coding Jesus, can you please make a video about the scope of "Quants Developer" given that you currently one, so I wanted an opinion from you, and what impact does AI has on it field. Little bit about my background is I'm a Software Engineer with 3 years of Experience working on Frontend/Backend/Mobile App was thinking about getting into this field, something about this field makes me happy making Algorithms that we test whose output is making real money or losing real money. Thank you
This is interesting. Im working on an app with IB for stuff I want to do. I have no finance training, but I have experience in c++ and math and high performance coding.
@@ABpluseAB ok I'll look into it. Note I'm using ib for market data, and some other platform for trading. I'm writing all the pattern stuff from scratch multi threaded C++ code.
I guess I don't understand how to get into the industry. What should I go to college for? Finance/economics? Or some sort of software development degree? I don't know how to code yet, but it seems that my dream of being an institutional trader basically doesn't exist anymore...so I'm wondering if I should even go to college for finance like originally planned. I'm leaving the army after 13 years and trying to find my next path in life.
Where do I start? I've been day trading with TA for a few years now and in school for Finance. I actually wanted to be a trader for a fund or IB but it seems like they're all quants. I have to get started teaching myself. Where do I start?
- Is there an age cut off when trying to break into the quant dev space? In the sense where a company wouldn't hire you as a jr quant dev because you are too old, or do you just have to be really good at programming? - Also is there a required educational background, for example if you need a degree related to finance or computer science? Or it just doesn't matter as long as you are good enough at programming?
Is it possible for an individual to become a quant trader without being associated with an established or new firm? Can quantitative trading be pursued to generate passive income?
A question for any one willing to answer, can self thought coder get into quant development?. Just so i know I've a chance if I don't pass out from college.
@@CodingJesus oh yeah.... That sounds so good to my ears😂😂(that I can make it, without college). Thanks man. Btw I am trying to develop my own algorithm any advice? Do you think AI can perform well in trading or investing?
Nice video, I would love to know this please. The cot reports shows what big traders or institutions are doing in the markets we could use that to have an idea of what will happen in the market, but it is as well a delayed report
In theory Imma just contact a temp agency and tell them I need a quasi dev and let them post the ad at minimum wage plus on my end temp staffing fees etc. , someone sees the ad and learns how to be a quasi dev and they'll take the job . I seen it happen just not quasi dev but it could be possible to pay a dev minimum wage , no?
Hey man, im a fan, can you make a review about axie infinity and why is it not a ponzi scheme... I want to hear it from a developer's perspective, thanks and more power to your channel
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@@WhatsMyemail I've only heard that top QRs get to paid between 500k to 1mm for their first year. for QDs its closer to 300k to 500k based on my datapoints
Maybe CS with a math/physics minor or the other way around. Realistically, your main constraint won’t be your degree, it will be your raw IQ. The interview process to these shops are very rigorous and to put it simply, they’re basically different flavors of IQ tests. If you didn’t score in the top 10% in SAT/ACT I’d just give up and look for more of a people based profession like consulting.
@@ThomasFoolery8 hey I am from India there is a bs in mathematics and scientific computing degree in the best Indian university is that enough? or do I have to pursue a master's and Ph.D.??
@@sarthakj52 it depends on the shop, but usually it is enough. Like I said, they don’t say it out loud, but most of these places are screening for people with a high raw IQ. If you can nail the interview, they know you’re smart enough to do the job well. Whatever shortcomings you may have in knowledge, your brain is strong enough to learn on the job.
I am pretty sure that the companies will PROMISE you to pay that much money, but when the bonus time comes you probably see only a small fraction of what you were promised. Especially if you are under NCA and especially if you are H1-B holder (or any other working visa, for that matter).
@@CodingJesus Why would you get paid? NCA and/or H1B visa status (the latter makes a foreigner an indentured servant, essentially) deprives an employee from any barganing power, and the bonus is discretionary. Would spend any more money on someone who is disposable and replaceable? Typically, employers don't.
@@kantocoder5046 these companies want people to want to work there. Bonuses of $20-50k are meaningless to them compared to the millions that they pay the top people.