Do algorithmic trader positions make as much money as people are saying 500,000 per year TC? How elite is this type of practice and how hard is it to break into?

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They only hire the best of the best CS/math/stats students. My buddy from college who went to Citadel made just over $300K his first year

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Mess up once, you’re done. You could have a phenomenal year (make 7 figs) and then get fired the next year.

Looking back, I wish I had done it. I had an offer, but they didn’t sponsor visas... so I took the safe / boring route.

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Yes it's highly lucrative, I know folks with 350k offers as new college grad. However unlike consulting you can't bullshit your way into a job. You actually have to be good at Math and CS

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Yes, though maybe not $500K from the get go. It’s a lucrative job with high barrier to entry - brilliant friends majoring in math/CS generally went into it. But can have high burnout rates (you either love it or you don’t).

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Harvard Stanford MIT CS grads usually.

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Most don’t even care about schools. They’ll send everyone who applies an incredibly hard assessment that even with Google you won’t figure out. Then they just interview the .1% that passes... which is a pretty fair system

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Yes, but only during years when stock market is doing good. Nevertheless, it’s good amount of money to make. It’s difficult to survive lifestyle with insane work pressure. Top MBA/Quantitative degree is always a requirement.

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"only during years when stock market is doing good" DEFINITELY not true. Stock market can tank but a trading firm/desk can absolutely make a killing.

A small correction here. I believe CS folks don’t go to Trader positions. They are quant developers/researchers. Traders are usually finance folks.

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A lot of CS folks become traders but there is a difference between people who Trade and people who create infrastructure and/or implement algorithms

Yes usually these folks have a PhD

Yes, but I’ve literally seen people get cut from places like Citadel (not really algo quant but still) in 4 months

Do I have a shot at getting into this.

Standford grad - information technology major

No MBA
1 year out

In a tech consulting role right now.

ITM - information technology management

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