This isnt really true. Banks dont pay anywhere near tech salaries. Its all lip service.
The flow of good engineers is always banks -> tech companies and never tech companies -> banks.
The flow of good engineers is always banks -> tech companies and never tech companies -> banks.
My understanding is that I could get about 200k base at goldman and maybe a 20% bonus, this is for working in a high in demand field. Google/FB/Other job I can get 300k+ while working less hours, paid for lunch, better treatment, more respect.
More important than the company name, you should make sure to join the right role for you in the right group.
Could you explain what you're getting at?
The fact that bonus is 50+% of base is normal for those roles, more normal than faang comp. Compensation is just structured differently, so it isn't useful to use it as a measure of seniority between the two industries.
It happens earlier in banks, but for most banks, it still happens at the level of Director (as opposed to Partner), not VP. I wasn't comparing comp structure to compare seniority. I was using comp structure to guess at seniority within the ladder of BB Banks and then comparing roles.
On the trading desk, your bonus is often often open ended, or if you are doing strategy work then a percent of pnl.
crappy software company << bank << startup
So depending where you are in the software world, you can still be making a ton of coin at a bank.