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bearmf

314 karma · joined April 5, 2012

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bearmf··on Cheaper to rent in Barcelona and commute to London
But it is obviously Harlem and not what people usually mean by "in Manhattan"
bearmf··on Ask HN: Is 30 too old to start in software engineering or CS?
If you majored in something quantitative there is just no need to take CS courses in a traditional college format. Online courses are on the same level or better if you can study by yourself and know enough math.
bearmf··on Poll: Full-time software engineers over 200k, how'd you get there?
No idea about parent's background but in my experience those jobs are almost impossible to get if you are not already "inside". HFT is probably the most competitive part of finance for software engineers and the market is not expanding anymore. Same goes for other kinds of quantitative trading, but they generally pay less and are less competitive nowadays.
bearmf··on Poll: Full-time software engineers over 200k, how'd you get there?
I really don't get why you consider 30 old or even near that. In my opinion it is a good time to do some self education, maybe change careers because many people don't realize what they really want until 30 or so. "Industry expert" on the other hand sounds plain boring.
bearmf··on Poll: Full-time software engineers over 200k, how'd you get there?
300k for 40 hours a week in quant finance after 5 years in Boston? You are very lucky indeed. Most people don't make this much after 5 years in New York and usually work much more.
bearmf··on Poll: Full-time software engineers over 200k, how'd you get there?
Sounds hard :)
bearmf··on Poll: Full-time software engineers over 200k, how'd you get there?
> It's really not hard to make $300k/yr

Disagree. If you have an easy recipe feel free to share :). You have to be a front office VP to be guaranteed this kind of money. Aleynikov made 400k as a senior VP working on HFT infrastructure at Goldman.

bearmf··on Poll: Full-time software engineers in the Bay Area, what's your annual salary?
Ah, I am sorry then. 200-250k is what I hear mid-level people at Google make.
bearmf··on Poll: Full-time software engineers in London, what's your annual salary?
"Practically guaranteed" nowadays means about 70% probability in finance :). There are almost no hard guarantees anymore.
bearmf··on Poll: Full-time software engineers in the Bay Area, what's your annual salary?
But 230k is very different from 400k that lefthander supposedly makes.
bearmf··on Poll: Full-time software engineers in the Bay Area, what's your annual salary?
This comment makes it hard to believe you. Google has not been known to pay half a million dollars to regular people. And no one in their right mind would call that salary low, except maybe a spoiled Wall St banker.
bearmf··on Poll: Full-time software engineers in the Bay Area, what's your annual salary?
400k is not typical at Google at all.
bearmf··on Statistical Formulas For Programmers
Confidence intervals are inherently confusing. I have yet to hear a definition that is both correct and easily understood and remembered.
bearmf··on Statistical Formulas For Programmers
I feel this would be quite confusing for an average programmer. It is more like a cheat sheet for people who have some statistical training but always have to look the formulas up because they don't use them frequently enough. For an average programmer, really understanding how linear regression works and some basic linear algebra would be a good start. A lot of programmers have trouble even with these "simple" topics.

Most of these formulas are very rarely used even by quantitative analysts. The most used are for standard deviation and regression. The more complicated ones are generally used as a part of statistical routines, say, in R. It is very rare that someone has to code them.

> From a statistical point of view, 5 events is > indistinguishable from 7 events. What is this supposed to mean? There is a concept of statistical significance but if an effect is not statistically significant it does not follow that it does not exist. Btw where is the Bayes formula? :)

bearmf··on Ask HN: How do you suggest we technologists get our industry back?
Well, I know several software engineers with kids in NYC. Some live in NJ, some live in Brooklyn, some live in Manhattan. In fact, among married immigrants almost everyone has at least one kid after 30. Often mother does not work or works part time and looks for kids. Almost everyone of the "extreme commuters" has kids.

Tuition and health insurance is about the same everywhere. Housework is not that hard, maids are not that expensive. Absolute cleanliness is not something that kids require, neither is owning a (2-bed, 3-bed, huge) house.

In my opinion, your restrictions are quite arbitrary. So you would not have kids while working as a software engineer, but plenty of people do.

bearmf··on Ask HN: How do you suggest we technologists get our industry back?
> Second, at least in New York or the Bay Area, no programmer gets to raise kids.

Now you are getting carried away :).

bearmf··on Millennials Lead the Trend to Less Driving. Will It Last?
Because it is impossible to have children without a car. Right!
bearmf··on Come here and work on hard problems – except the ones on our doorstep
http://www.thamesreach.org.uk/news-and-views/homelessness-fa...

"A mixture of street counts and estimates indicated 557 people slept rough on any one night in London 5,678 different people slept rough over a year in London (April 1 2011-March 31 2012)"

"According to SFGov, the total number of homeless individuals and families in San Francisco for 2011 was 6,455."

There are definitely more homeless as percentage of population in San Francisco though.

bearmf··on Come here and work on hard problems – except the ones on our doorstep
There are plenty of people sleeping on park benches in Europe, especially in large cities like London and Paris.
bearmf··on I Am a Bad Developer
> exercise to write a function which returns a boolean in

> response to the question of whether sequence A is a sub-

> sequence of sequence B.

If you can't solve this really fast it means you haven't practiced enough for the interviews.

> of course calculating the permutations of a list is n-

> squared

If I understand you correctly, it is actually n!, because there are n! permutations of n objects.

Basically, your problem seems to be lack of preparation. You study a lot but you haven't studied things that are asked in the interviews well enough.

I would recommend "Cracking the Coding Interview" book. Of course you need to actually solve problems from it. There is lots of valuable advice there. Courses on algorithms on Coursera are also pretty good.

bearmf··on Quantitative Finance Reading List
So what was the offer like? 2x Intel?
bearmf··on Quantitative Finance Reading List
Yes but PhDs tend to be better on average than MFE graduates. If a fund has its choice of PhDs (which is the situation now) there is not much reason to hire someone with only a masters, except if she has some crazy skills.
bearmf··on Quantitative Finance Reading List
Well, total compensation, say at Google, can be around 200k for senior guys. A lot of people in finance are making less than that and so people do leave for software jobs.

As I have said before, really huge compensation levels in finance exist for VP-level people. Please keep in mind that "VP" in finance means something like "pretty senior", he might no be a manager at all. These guys have around 5 years experience and if all went well for them they can be making around 300k. These would be hard to match en masse while avoiding a situation when of two engineers doing the same job one is paid X and another 2X.

bearmf··on Quantitative Finance Reading List
Fresh out of school.
bearmf··on Quantitative Finance Reading List
Which companies can pay someone fresh out of school 150-200k base? Maybe DE Shaw, RenTech, a handful of other large funds. Banks just don't do it.
bearmf··on Quantitative Finance Reading List
Around 100k base for people without experience. Around 150k base for VP level (~5 years of experience). Bonus is highly variable (20-100% of base is typical).
bearmf··on Quantitative Finance Reading List
I get a feeling that people somehow do not want to believe that quant finance is in very bad shape right now. It is very hard to get a job, especially without experience. Salaries are not growing, might be even decreasing. Starting base salaries are around 100k. You might get a bonus, but it all depends on firm performance. Before VP level the pay is not much greater than in tech.

You will likely need a PhD to get a job at all. Maybe a top MFE, but most MFE graduates are perceived to have very shallow knowledge, which has a grain of truth to it.

bearmf··on Quantitative Finance Reading List
No one without experience will command a $150k base, let alone $200k. These are VP-level base salaries.
bearmf··on Why women should embrace a ‘good enough’ life
I am pretty sure that most men do not negotiate salary either. It is hard to believe that a significant percentage of pay gap between sexes is determined by negotiation skills. And the whole "don't take the first offer" thing is just silly, though it may work in case the first offer is really bad. Going by the title of the article, if the offer is 'good enough' for you, you should take it.

As lots of posters have already said, the solution to work-life balance is not more benefits to working mothers. It is more benefits for everyone. Paid parental leaves for both women and men and more time off.

bearmf··on How to identify algorithmic trading strategies
It might be true if you are talking about market makers that have an advantage over other participants due to regulations. However nowadays market making on liquid instruments is almost equivalent to high frequency trading. The tail risk might be low if you have very low latency and perfect connection to the exchange. Anyway your pnl distribution will be negatively skewed. You are unlikely to lose tons of money like Knight (their testing algorithm kind of actively tried to do it) but making a steady profit is not easy in liquid markets.
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