Wall Street Quants Not Interested In Startups
from the pay-cut dept
With Wall Street firms crashing left and right, some tech startup investors thought there would be plenty of smart and available talent in NYC looking for work, who might be persuaded to join startups. Turns out that it hasn't worked that way. Laid off Wall St. quants seem to want to stay on Wall Street, and don't seem particularly interested in joining startups at a greatly reduced salary and a small chance for eventual stock option wealth. This actually might be for the best. It helps to really believe in what a startup is doing before committing to it -- and a lot (certainly not all) of the Wall St. folks are simply focused on making lots of money as quickly as possible. That doesn't always mix well in a tech startup.Thank you for reading this Techdirt post. With so many things competing for everyone’s attention these days, we really appreciate you giving us your time. We work hard every day to put quality content out there for our community.
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Filed Under: jobs, quants, startups, wall street
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It's for the best
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Wall Street
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A little hard to feel sympathetic for POV of the article
These guys are smart people. The fact is, once thrown out of work, if they can't get another quant job, they have 3 options, not just one:
1. Work for your startup
2. Form their own start-up
3. Move, and work for a start-up in a location where their start-up pay can pay for a reasonable lifestyle.
Perhaps now you might see why quants aren't lining up the way you think they should.
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LOL
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Neither does their rock of coke a day habit. Let em starve.
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