U.S.startups: often less selective,lower caliber

U.S. startups may represent a sweet spot among my job choices. I think they are less selective than HFT or top tech shops. They attract fewer top geeks.

  • Workload – presumably comparable to ibanks like MS/Baml/Barc. I guess some startups are higher, but I guess fewer than 50%. Mithun described 3 startups but he has no firsthand experience.
  • Salary — Many startups pay on-par with ibanks, according to CYW
  • Leaves – possibly fewer than ibanks
  • Cowoker benchmark – possibly lower caliber
    • Respect – could be slightly better than in an ibank if you earn the respect

Some of the big tech shops are actually less selective than HFT – Amazon, Apple

4 competing domains to Support dev salary@WSt

In terms of supply/demand, there are systemic forces that support the relatively high developer salary in investment banks.

  • #1 pure tech shops — generate high profit, attract hot investment
  • #2 buy-side shops including mutual funds
  • #3 small startups — only in U.S. can they offer competitive salary
  • #4 exchanges and fintech shops including bbg, Reuters, S&P. Some (Miami, NYSE..) seem to generate high profits
  • #5 package software vendors

Few of these categories exist in Singapore.

##150k@light GTD-load: which FTE

Real deciding factor is coworker benchmark (not PIP/stigma). Are there managers tolerant of team members below the benchmark? Josh, Srini of Citi-muni..? Even in a less demanding company, pressure can be high.

  • — Here are some jobs paying 150k with light GTD-load. Usually don’t attract young bright guys.
  • employer:  slower ibanks like Citi, UBS
  • employer:  some commercial banks like OC, BONY
  • employer:  large traditional buy-side like AIG, Vanguard
  • employer:  3rd type financial firms like exchanges/ECNs, data vendors (Reuters?), financial product vendors,
  • employer:  non-finance like telcos
  • employer:  startups but they tend to use new technologies
  • less glamorous — like mkt data, back office
  • greenfield codebase with short history —  like OC, StirtRisk
  • smaller codebase — like RTS
  • older workforce — like RTS
  • older technologies — like SQL, C, socket