Wall St vs Silicon Valley
Forking off of other thread. How would you compare the job market, pay, competitiveness, prospects for industry and future career/compensation growth between Wall St and Silicon Valley? How about SV now vs Wall St in the late 90s, early 00s?
Also more meta-commentary but you could also compare VC and investment banking, private equity.
Paywise : PE > IB > VC
I see this sentiment every few years when tech stocks rise. But by any benchmark Sv Is far behind Wall Street. Let’s see benchmarks. SIFI: WS all of them. SV none. GDP %: WS 20% vs SV 2% Workers: JP Morgan alone has more employees than all SV tech workers combined. I’m not sure what metric SV rates even close to WS
I see WaPo article that quotes FIRE as 20% of GDP. But I also see Bureau of Labor Statistics doc that says tech is 23% of GDP and 12% employment. https://www.bls.gov/opub/btn/volume-5/pdf/the-high-tech-industry-what-is-it-and-why-it-matters-to-our-economic-future.pdf
So sure not apples to apples but I would only include investment banking, proprietary trading, market making, asset management, private equity, etc for Wall Street.
You don't compare. Their domain knowledges are so different you don't jump from one to the other instantly. Find what works for you and apply, we are not 12 years old anymore, no point in bragging.
Yes this is theoretical. But not for say an ML PhD.
Asking a question on a question, can you still make good money on Wall St as a quant? Or are those days long gone?
You absolutely can. Harder in the bigger shops, but if you're top 20%, you'll easily pull in a million plus
It would also be interesting to compare prospect of Two Sigma and Bridgewater and Citadel etc (I don’t know anything about these personally) with the big firms.