It pays to develop HFT: Try 1.2 million!
I am not even seeing any education requirements and with immigration tightened in UK, this is very possible in coming months!!
FACEBOOK ACCOUNT and TWITTER. Don't worry as I don't post stupid cat videos or what I eat!
So, to the rescue comes Sergey Aleynikov. He was a 40-year-old programmer for Goldman Sachs Group Inc., described in this Reuters report as “Wall Street’s most influential bank.” It looks like he was a specialist in those algorithms that control the stock market these days, capitalizing instantaneously on minute changes in market prices to automatically conduct trades and transactions (remember the “flash crash?”) and make big bucks for the “high-frequency trading firms.”
Apparently he wasn’t satisfied with the $400,000 per year Goldman Sachs was paying him. That’s right, $400,000 per year. So he allowed himself to be lured away by another big financial player, Teza Technologies LLC.
But he reportedly downloaded — illegally — some proprietary code to take with him, and he was caught. “Prosecutors say he planned to use the code to help his new employer … build a high-frequency trading system,” Reuters reported from the trial last November.
And here’s the good part: “The prosecutor said that, at Teza, Aleynikov stood to earn about three times the $400,000 he was paid annually by Goldman Sachs as one of its highest-paid computer programmers,” Reuters reported. That’s 1.2 million.
So there you have it. There are big corporations out there making millions of dollars on the backs of computer algorithms, and some of them are willing to pay at least $1.2 million per year to programmers who can code them better than anyone else.