Peter's Q3 2019 Market Report

2019 Q3 Summary


How to describe the current market? More of the same, banking is challenging, and there’s a steady rotation of technology talent away from investment banks to Buy side firms, FinTech, Big Tech, and startups. Citi is cutting, DB is still cutting, and Morgan Stanley has been frozen on hiring for over a year. One exception is Goldman, which is hiring aggressively in technology.

Hedge funds are also having a difficult year with $56b in net outflows YTD 2019, already 50% above 2018’s figure. As always, results vary widely across funds, and many of our hedge funds clients are currently hiring.

As for salaries, we continue to see a bifurcation in the market. There is strong demand and rising salaries for the most talented individuals and a challenging landscape for everyone else. The contract market is currently poor.

Despite the challenges, Affinity North has maintained a robust set of clients that are hiring aggressively. Even as we get close to year-end, we are currently working on more positions than we have all year. See below for current opportunities.

Business is about Technology

As technologists in financial services, being part of the business versus a cost center has always been a critical aspect of one’s value proposition. From the afore-linked article, Adam Korn, co-head of engineering in the trading division, “You are going to see us very actively in the marketplace going after this kind of talent. Historically, engineers were not seen as a part of the business. That’s obviously changed.” Good news for this audience. And there’s this.

Data Science

Not surprisingly, we’re seeing more and more data science roles. These positions fall into two categories. Most of the roles have a significant data development component. Data sourcing, cleaning, and storing is a significant requirement of these positions. We hear the same from our candidates, namely that jobs posted as Data Science positions usually involve more data development than actual data science. We see far fewer true Data Scientist roles, and these are typically reserved for PhD’s with significant experience in ML.

Salaries for Junior Developers are way up

What else can banks and hedge funds do? Big Tech has driven compensation for new/recent grads up significantly primarily by including a substantial stock grant that vests over time. The only way to compete with such offers is to offer higher base salaries and bonuses. The trend has been obvious this year.

Stack Overflow Salary Calculator

Here is the Stack Overflow Salary Calculator. What’s wrong with this picture? Experience is completely discounted! Salary increases are essentially equal to the rate of inflation. While this is only one company, I see this phenomenon broadly. Companies overpay for potential and underpay for experience.

Interview Preparation Quantified – sort of

One of our hiring managers gave me a very useful piece of advice to pass on to potential candidates. He said, “Our technical interviews are not hard.” (I don’t think everyone would agree with that) He went on, “If someone can complete LeetCode Medium questions in 20 minutes or less, they’ll do fine.” So there you have it, interview readiness defined. For this group anyway.


Above I try to generalize. However, we are currently inundated with a wide variety of interesting opportunities!

Current Priorities


  • Go/AWS/Javascript Developer – Software engineer to build new state of the art clearing system

  • Numerate Python Developer/Strat Fintech

  • Python Developer – Trading systems

  • Java Developer – Credit Fixed Income eTrading

Buy Side

  • Data Science Quantdev – New hedge fund

  • Lead convertibles Devquant – Leading hedge fund

  • Java Developer – Leading hedge fund – Compliance Technology

  • Network Engineer – Hedge Fund

  • Javascript/ReactJS Developer – Market data front-end – Large hedge fund startup

  • Data Developer – Security Master SME – Leading hedge fund

  • Data Developer Scraping/Cleaning/Storing – Leading hedge fund

  • Python Middleware Developer – Leading hedge fund

  • C++ Developer – Fixed Income ETF trading – Leading hedge fund

  • Java Developer (Contract) - Market Data SME - Leading asset manager

  • Full-stack Engineer – C++, Javascript/ReactJS – Prop trading

  • Low-latency C++ Lead Developer - Prop trading

Sell Side

  • Java full-stack Developer – Fixed Income eTrading Strategies

  • C++ - Mid-Senior Equity ETrading Platform Developer

  • Python Developer - Equity eTrading Tooling and Instrumentation

  • Javascript/ReactJS Developer – Strategic product delivery

  • Java Developer – Securities Lending IT

  • Java Developer – Collateral management/optimization

  • Java eTrading Developer (Contract) - Mid-market IB

  • ETF Desk developer – Java/Python - Mid-market IB

  • Quant/Strat – Equity Fundamental Strategies

  • Trading Systems Support – Equities IT


Peter's Q2 2019 Market Report

2019 Q2 Summary

Some of you work at these companies. More of you will work at these companies in the future. The traditional market in financial services, i.e. IBs, continues to be slow and it’s almost certain that there won’t be any change for the rest of 2019. Banks over-hired in 2017 and 2018, and now they are working to manage budgets down. Q2 doesn’t look rosy. In trading, banks with higher market share have a significant edge in profitability, putting pressure on blue chips Goldman and Morgan Stanley. Meanwhile, investment in FinTech is soaring, and per TechCrunch, “There are more FinTech Unicorns than any other vertical in the Unicorn Club.”

In fact, we currently have an unusually robust array of opportunities (see Opportunities below). These positions are a mix of Buy Side, Sell Side, and FinTech roles.

We’re Number 1!

Bloomberg reported “New York Beats Out San Francisco to Be World’s Best Tech City.” The article is based on a report by Savills. That was fast!


 Note to anyone interviewing at GS

You have homework! Goldman just released a documentary about itself, and it’s probably a good idea to watch it if you are going to interview there. After all, somebody might ask you this question.

Interview Preparation – Here’s what you’re up against

Our field is one in which you get paid for solving a series of technical/mathematical problems over the course of a few hours. You don’t have sales figures, turn-around stories, or a book of business to talk about. You get paid for what’s between your ears and your ability to communicate it. Of course, over time, performance must be sustained, but interviewing is the path to more lucrative opportunities.

How much prep is enough? Only you can determine what it takes to be ready but be aware that there are individuals who take preparation very seriously. We work with people who take months to prepare for interviews. One of those individuals may be interviewing for the same position you are.

We have recommended many resources over the years, but I want to call attention to Chapters 1 and 2 of Elements of Programming Interviews. These chapters contain a fantastic overview of what to expect, how to prepare, and how to manage the interview process. Do not skip straight to the problems.

What am I Worth?

This is one of the hardest questions I get. Everyone wants the answer, but the only way to know is to put yourself on the market and see. The market for talent is quite imperfect outside of commodity type positions, and we see tremendous variation. I see a lot of figures and can give you an idea of what’s possible, but there’s no sure answer until the market speaks.

Teaching Coders to Trade

A new program at Citi is teaching coders to trade and traders to code. Citadel’s NXT program is also very interesting. Companies are getting more creative at finding ways to appeal to top talent.


This is the most interesting mix of positions we’ve been working on in some time. Please call to learn more.

Current Priorities


  • Numerate Python Developer – Successful UK-based quantitative startup opening NYC office

  • Java low-latency Engineer – Jr/Mid – Credit algo trading startup

  • Go/AWS/Javascript Engineer – Trade clearing startup

  • SRE – Trade clearing startup

  • Lead front-end engineer – Trade clearing startup

  • Data Engineer – Trade clearing startup

Buy Side

  • Lead C++ Engineer HFT Trading, prop trading firm

  • Junior C++ Engineer - HFT Trading, prop trading firm

  • C++ Engineer - ETF Trading – Leading hedge fund

  • SRE Leading hedge fund

  • Java Engineer – Leading hedge fund – Compliance Technology

  • C# Engineer – Jr/Mid - Green-field dev, new, strategic trading platform – New Large Hedge Fund

  • C#/Javascript UI Engineer – Data Science Group – Leading Asset Manager

  • Python/C# Engineer – Portfolio Analytics - Leading Asset Manager – Contract

  • Java low-latency Engineer – Trading Systems - Algo Hedge Fund

  • UI Engineer – C#, Excel Add-in – Data Science Data delivery

  • Junior/Mid Python Engineer – research platform – new algo fund @leading asset mgr

  • Data Engineer – SQL Server, C#, MongoDB/Spark – Healthcare hedge fund / VC

  • CRM BA - MS Dynamics CRM, Proj Mgt, SQL – Healthcare hedge fund / VC

  • Data Scientist - Python, SQL, R, C#, ML – Healthcare hedge fund / VC

  • Desktop Support – Healthcare hedge fund / VC

Sell Side

  • Senior Python/Javascript Fixed Income Engineer – Fixed Income Strats – Language agnostic

  • Java low-latency Engineer - Equity ETrading

  • KDB/Java/JavaScript Engineer – Fixed Income Credit Strats

  • Python Engineer - Equity eTrading Tooling and Instrumentation

  • Java/C++ - FICC eTrading Tooling and Instrumentation

  • Javascript, React Engineer – Strategic end-user research platform

  • Java eTrading Engineer, Fixed Income

  • Java/Scala Developer – Contract (mid rate)

Peter's Q1 2019 Market Report

2019 Q1 Summary


Last quarter I said that I wouldn’t try to predict the market in Q1. Well, now we know – things are very slow. There’s a lot of economic uncertainty, and the hangover from a very poor Q4 has lasted right through the entirety of Q1. Q1 results will help to dictate whether firms can start hiring again, but there are larger concerns as well. Decreased trading volumes in both fixed income and equity markets have firms assessing whether they are right-sized. Their conclusions will have a significant impact on hiring for the rest of the year.

Layoffs have not been particularly large, but they’ve been broad and steady. Bloomberg: “In 2018, the 12 largest global investment banks cut front-office headcount for at least the fifth straight year.” It would be interesting to see these numbers separately for US and foreign banks, as foreign banks have cut significantly more jobs. 2019 looks sure to continue the streak.


The contract market at the investment banks has been hit particularly hard. We’ve seen hard freezes on contract hiring, rate cuts, and layoffs. The freeze on contract hiring at some banks has hit 5 months.

The Buy Side is always harder to parse, but here’s a good overview of what’s happening there showing an overall headcount that is slightly up (1%), quarter over quarter. Hedge fund assets continue to grow, which is a good sign.

Technology in NYC - continued

The New York Times published a great article last month, “It Started With a Jolt: How New York Became a Tech Town.” Who remembers that Fortran was written on East 56th Street and C, C++, and Unix were developed in NJ? Venture capital dollars in 2018 by state: CA $11.6b, MA $2.6b, NY $2.4b.

Old sh!t

According to a recent article in The Financial Revolutionist, “estimates are that banks spend 80-plus percent of their IT budgets on maintenance.” This figure is dismaying to everyone – management, developers, users, and even me (popular request from candidates – greenfield development). A lot of FinTech investment is going towards addressing this problem.

Does this make Goldman Cooler?

See David Solomon, Goldman’s new CEO. GS has changed their dress code, and Solomon has a non-corporate view of internships as well.

Premium Processing Returns

Changes in H1-B processing over the past year have wreaked havoc on many a visa transfer, and the ability to change firms has been hampered for H-1B holders. The return of premium processing is a welcome development.

Failure Resume

Bad resumes are a pet peeve of mine. Here’s an entirely different take – write a Failure Resume.


The one theme we are seeing with respect to open positions is that firms are looking for senior, hands-on developers. Companies continue to hire and pay those rare individuals who can code circles around their peers.

We expect to see an influx of new openings over the next couple of months, and this list will change rapidly in 2019. Please stay in touch.

Current Priorities


  • Go/AWS/Javascript Developer – Software engineer to build new state of the art clearing system

  • C++ Developer Bitcoin mining

Buy Side

  • UI Developer (web, full stack) – Healthcare hedge fund / VC

  • UI Developer – C#, Excel Add-in – Data Science Data delivery

  • Java Developer – Fixed Income eTrading – West Coast

  • Java Developer – Leading hedge fund – Compliance Technology

  • Junior/Mid Python Developer – research platform – new algo fund @leading asset mgr

  • Python Data Engineer – Hedge fund – NYC or Dallas

  • SRE – Leading hedge fund

  • QA Engineer – Leading hedge fund

Sell Side

  • Senior Python Developer (ED) – Fixed Income Strats – Language agnostic

  • Java or C++ - Senior Equity ETrading Platform Developer

  • KDB/Java/JavaScript Developer – Fixed Income Credit Strats

  • KDB Developer – Credit Strats

  • Python Developer - Equity eTrading Tooling and Instrumentation

  • NLP Expert – SPG IT – Contract


Peter's Q4 2018 Market Report

2018 Q4 Summary

Happy New Year!


In Q4 I often try to communicate what we expect in Q1 of the following year. This year? Forget about it. Given the recent market volatility, uncertainty with the global economic outlook, and the current administration, nobody has any idea what to expect in 2019… That being said, we always have active clients and robust demand for top technical people, so please be in touch in 2019 to discuss options.

Technology in NYC

Amazon HQ2 was the big news a few weeks ago for the NYC area, but Amazon is only part of the story regarding technology jobs in New York. Google’s recent announcement that it is doubling its NYC footprint hardly drew any attention, but it is equally big news for the IT job market. Financial companies are already competing for developers with Google, Amazon, Facebook, and others, and it looks like the competition will only intensify in the coming years. While hiring in the financial sector has been reasonably robust over the past few years, it is clearly the technology companies that that have been driving salaries in New York for the past few years. Banks and hedge funds are now competing more with technology than with each other for top technical talent.

Emerging Jobs

LinkedIn’s Emerging Jobs Report 2018 doesn’t include many surprises, and it quantifies what we’ve seen anecdotally in the job market in the past year or two. Three of the top 5 Emerging Jobs are in the trendy areas of Machine Learning and Blockchain:

·         Blockchain Developer
·         Machine Learning Engineer
·         Machine Learning Specialist

What’s the difference between ML Engineer and ML Specialist? Nothing, as far as I can tell! And honestly, this is precisely why I started Affinity North. The recruiting industry in general has a difficult time understanding technical jobs. While it can be hard to keep up with technology, we at Affinity North come from technical backgrounds, and we do our best to understand the roles we work on and represent them accurately. As for Blockchain and ML, I expect we’ll see many more of these kinds of jobs in 2019. Look which firm currently has the most Blockchain patents.

High demand for Data Engineers

Everybody knows that data is king these days. This translates to a high demand for data engineering. Almost every client of ours is working on improving their data platforms as a priority. Engineers who know how to leverage the latest technologies to build robust, scalable, data platforms are in very high demand.

The Fourth Hiring Trait

The famous three attributes for evaluating candidates – attitude, aptitude, and experience – are well known. It’s commonly discussed that you can succeed without experience, but you can’t succeed without either of the other 2 qualities. Warren Buffet prioritizes a different attribute – Integrity, and you can’t really argue with his logic.

Tom Searcy with CBS Money Watch offers this summary:

·         Hire someone with high energy, high intelligence, but low integrity and you'll get a smart, fast-moving thief

·         Hire someone with high intelligence, high integrity, but low energy and you'll get a shopkeeper, not an engine of growth

·         Hire someone with high energy, high integrity, but low intelligence and you'll get a strong functionary, but not a great problem solver or visionary

It’s interesting to note these statistics from

·         46 percent of new hires will fail within 18 months

·         Only 19 percent of new hires will succeed over the long term

·         Of those that don’t last, a full 89 percent lose their jobs due to something involving their attitude or personality (lack of coachability, poor emotional intelligence, poor motivation, or a bad temperament)

·         Only 11 percent of new hire failures lose their jobs due to technical incompetence

All these studies are broader than our practice and need to be taken with a grain of salt. We work in rarified air where only the very smartest people with great attitudes thrive, and very high-level technical skills are absolutely required. However, a particular technical skill or experience is rarely a requirement, if the individual has general experience in the area and significant technical smarts.

Is Fintech Failing?

This article by Chris Meyers, a Fintech startup founder, is a good overview of the state of the industry.

A Break for Students (and Parents)

Goldman and JP Morgan in recent years had moved up the recruitment process to sophomore year. However, they have recently stopped the practice, and have gone back to recruiting during junior year. Several reasons were cited including the practice being disruptive to students, pressure from universities, and the fact that it wasn’t yielding a diverse candidate pool.


We expect to see a large influx of new openings over the next couple of months. This list will change rapidly in 2019. Please stay in touch.

Current Priorities


  • Go/AWS/Javascript Developer – Software engineer to build new state of the art clearing system

Buy Side

  • Java or C# Developer – Leading asset mgr – Risk Attribution – Contract

  • Java or C# Developer – Leading asset mgr – Development of new Portfolio Rebalancing system

  • Java Developer – Leading hedge fund – Compliance Technology

  • Junior/Mid Python Developer – research platform – new algo fund @leading asset mgr

  • Python Data Engineer – Hedge fund – NYC or Dallas

  • Lead C++ Developer – HFT/low-latency - prop trading

  • C++ Analytics Developer – quant team - Leading asset mgr

Sell Side

  • Java or C++ - Senior Equity ETrading Platform Developer

  • Java or C++ - Senior Equity Algo Trading Developer

  • KDB/Java/JavaScript Developer – Credit Strats – Contract/Fulltime

  • KDB Developer – Credit Strats – Contract

  • Javascript Developer – Credit Strats – Contract

  • DevOps – Tools Developer

  • DevOps – Release Engineer

  • DevOps – Trading Systems Frontline Support

  • Lead Data Engineer = Fixed Income StratsLeading investment bank

  • NLP Expert – SPG IT – Contract

Peter's Q3 2018 Market Report

2018 Q3 Summary



It’s fall and that means one thing – hold the hiring!  Kind of.  Full-time hires are generally on hold at the investment banks but hiring continues on a contract basis, and teams are eager to interview now for 2019 hires.  So, the demand remains, but the bean counters are having their way short-term.  Everything is moving more slowly right now, but, 2019 is right around the corner. Now is the time to get your resume updated and get prepared for your search if you’re thinking about making a change next year.

H1 Transfers get Harder and S..l..o..w..e..r

A good percentage of the people we work with are in this country on an H-1B visa.  While visa status has always been a big factor in job mobility, never has it been as significant as now.  Transfers used to be all-but automatic, and expedited processing was the routine choice of hiring companies.  However, premium processing is currently suspended.  RFE’s and denials have increased dramatically and now transfers can be denied w/o RFE. Whereas individuals used to change firms when they received notification that their application was received, now it has become necessary to wait for the actual transfer to occur.  The State Department has done a good job throwing sand into the immigration gears…  However, even with the added difficulties, companies are still quite comfortable hiring H-1B candidates. Nobody has told us that they won’t continue to hire H-1B candidates.  One client told us the process used to be 3-5 weeks, but now they count on 6-8 weeks.

Algo Trading

Good news for those who want to work in Algo Trading, which I know form conversation after conversation that many of you do!  Algo trading is steadily on the rise.  Fixed income electronic markets are steadily increasing their share of the market, and all of the big players are adding developers and quants to build systems that make markets on these venues.  And of course, the hedge funds and prop firms continue to invest in algo strategies and systems.  We have seen many such positions all year and continue to have demand for talented people with experience in this area.

Strong Market?

Anecdotal evidence from a couple of people we know – way more job solicitations this year than other years.  We’ve experienced a good market this year, but I’m curious about “way more… this year” Are others experiencing the same thing?  Does it reflect real demand or the introduction of more and more automated tools and “AI” that are making it easier for recruiters to spam the world?

Dynamic Programming Questions

Recently we’ve had a lot of candidates comment that they are being asked dynamic programming questions.  There’s no substitute for interview preparation. Here’s a good set of questions to review: Top 20 Dynamic Programming Interview Questions.

Amazon AWS Devs on Support

I always imagined that Amazon must have the most sophisticated DevOps setup in the history of man.  I was surprised to learn that developers are on a support rotation and regularly deal with production issues.  Working at a bank, I was very used to developers complaining about the amount of production support they did.  I was surprised to hear the same thing at Amazon of all places.


Please follow AffinityFin to be apprised of new opportunities.  Of course, the best way to learn about available opportunities is to email or call me directly.

Current Priorities

Buy Side

  • Junior Python Developer – research platform - new hedge fund within leading asset management firm

  • Java or C# Developer – Leading asset management firm - Contract

  • Lead Data Engineer to build data platform – Algo hedge fund – Senior, reports to CTO

  • Java/Python FIX Developer – fixed income connectivity – Contract

  • Java Developer – Leading hedge fund

  • Python Data Engineer – Hedge fund – NYC or Dallas

  • C#/.Net Developer – Leading alternative investments firm

  • Lead C++ Developer – HFT/low-latency - prop trading

  • C++ Analytics Developer – quant team - Leading asset management firm

Sell Side

  • Credit Risk/Counterparty Exposure Business Analyst – Contract

  • SPG Desk Quant – Commercial focus – VP/ED

  • Lead Data Engineer = Fixed Income StratsLeading investment bank

  • Java Developer – Strategic re-architecture of firmwide risk reporting – Contract

  • C++ Developer – equity algo trading – Contract

  • KDB Developer – SPG Strats – Contract

  • Java Developer – Risk IT – Contract

  • Java Developer – Finance IT – Contract

  • Java Developer – Credit Risk IT – Contract

  • Data Modeler – Finance IT - Contract


2018 Q1 Summary

The current market is relatively uneventful.  There’s no hard trend currently apparent.  Beginning of year hiring is underway, but the strength of demand varies from bank to bank.  Credit Suisse has been shedding NYC jobs liberally as positions are relocated to lower cost regions, and BofA has tightened budgets.  Overall, layoffs generally are down, but Deutsche Bank continues to do its part.  Morgan Stanley has followed strong performance with robust hiring, and Goldman has made is clear that hiring in their Strats group is a top priority.

Buy Side firms continue to hire top notch technical talent at premium prices.  The competition is clearly from large, public technology firms that can peel off a few more shares and make a young programmer very comfortable in one of the most expensive cities in the world.

One interesting development is that we currently have more Lead/Management roles than we’ve had in the past.  These roles continue to have a focus on hands-on skills.

The New Salary History Law

I commented in my last report that the new salary law, “is going to make my job harder.”  The reality?  Not at all.  It’s refreshing to talk compensation w/o relying on a person’s history, and firms have a clear idea of what they want to pay a given individual.  So far, so good.

Demand for infrastructure developers

We continue to see very strong demand for infrastructure developers.  Our top hedge fund clients are paying a significant premium (call me) for the best developers.  Financial knowledge?  Useful, but firms are generally not willing to pay a lot for knowledge they expect someone can learn on the job.  As for technical skill, the fact of the matter is that nobody believes that you can turn a good developer into a great developer, so the search for amazing developers continues apace.

Slow Contract Market

Anecdotal evidence suggests that the contract market is currently tepid.  A number of contractors we work with have reported that they’re not seeing a lot of opportunities.

Buzzwords: Blockchain, ML, NLP

Blockchain technology seems to be permeating everything these days, even recruitment.  The NY Times published a great article in January describing the technology and its potential to have a broad and fundamental impact.  I particularly like the description, “network of distributed trust” as a succinct and accurate description of the technology. Worth a read.

Machine Learning is everywhere these days, and we’re beginning to see opportunities in this and other AI disciplines.  We’re currently working on a position in Morgan Stanley’s Machine Learning group which applies AI and NLP technologies to revenue generating business cases.

More on Resumes

Daffy Resume.gif


This is always a sore point for me, as I see so many bad resumes (this section was originally titled, “Your resume sucks”).  A resume will never be proof that you are the right person for the job, but it can be proof positive all too easily that you aren’t the right person.  Make sure to keep the reader’s perspective in mind and be sure that someone else has read it for content and grammar.


Please follow AffinityFin to be apprised of new opportunities.  Of course, the best way to learn about available opportunities is to email or call me directly.


We have a referral program. If you refer someone who we place, we will gladly reward you for the referral.

Current Priorities

Buy Side

  • Senior Java Developer – real-time PnL
  • Junior Python Developer – research platform - new hedge fund within leading asset management firm
  • C# and/or Java Developer – Contract/FTE – Risk attribution
  • Junior-Mid C++ Developer – various functions
  • Junior-Mid Java Developer – various functions
  • Python Developer/Data Architect – Greenwich, CT
  • C# UI Developer – Greenwich, CT
  • C++/Python developer – algo trading infrastructure
  • Python/Java/C++ Developer – Research
  • Java Developer – Post Trade
  • Python Developer – Data platform
  • Java Developer – Core infrastructure services/libraries
  • Quant Dev C++ - junior/mid/senior
  • Java Developer – credit trading startup
  • Portfolio Researcher - credit trading startup
  • Javascript Developer – algo trading
  • Python Systems Developer – Cloud based grid compute
  • Python/Java Data Engineer – algo hedge fund
  • Python Quant/Dev – algo hedge fund
  • Real-time Java Developer – algo hedge fund

Sell Side

  • NLP Engineer – Team lead
  • Commercial SPG Desk Quant – focus on generating trade ideas
  • Commercial Credit Desk Quant – focus on generating trade ideas
  • Treasury Desk Strat
  • Fixed Income Strats Developer –Java/Scala/Python/KDB/JavaScript – reports to the Desk
  • Fixed Income Strats – Data Lead (ED) – oversee the data requirements of fixed income strats team globally
  • Fixed Income Strats Hands-on Dev Manager (ED) – Lead a large group of developers supporting the trading desk
  • JavaScript/AngularJS – full-time and contract
  • Java/Scala Developer – Risk - Credit Trading IT/IRD IT
  • Java Developer - Market Data - Credit Trading IT
  • Java/Scala Developer – Valuation and Risk Infrastructure
  • Java Developer – Secured Lending
  • Java/Javascript Developer – Credit Risk C# Developer – Loans and Distressed Debt - Credit Trading IT
  • KDB Quant/Dev – Fixed Income Strats
  • DB2 Database Architect – CVA IT
  • C++ Project Lead – CVA IT
  • C++ Developer – IRD IT

Other Side

  • Javascript/React Developer – Web dev Tools - Major Credit Card Company
  • Javascript Developer – Trading Systems – Leading financial data platform


We always have a wide array of contract opportunities at good rates:

  • Java
  • Scala
  • C#
  • Javascript – Angular, React
  • C++
  • KDB
  • Database – DB2


Peter's Q4 2016 Market Report

2016 Q4 Summary

Happy New Year to everyone!

This year marks a divergence from the cycle we’ve seen in recent years, namely hiring petering out in the fourth quarter with blanket hiring freezes going into effect.  In fact, we have continued to see offers go out late into December.  This activity doesn’t mean that the market is robust – the European banks continue to shrink their footprint in the US and remain on the sidelines.  However, I think it signals a return to normalcy where firms are hiring according to need, and the yearly cycles that were exacerbated by a poor business climate are no longer dominant.  We expect Q1 hiring to be brisk.

What (still) Sells

Hands-on skills and Subject Matter Expertise continue to be critical in this hiring environment.  That hasn’t changed since the Credit Crisis.  There’s an almost insatiable market for the best developers, even at the top end of the market.  A very well compensated technologist with whom we work told me recently that he was surprised at how good the market was for someone at his level.  It’s worth noting that our Buy side clients are clamoring for developers, not quants.

A very thoughtful MD recently gave me the following feedback on someone he had worked with, “Kind of a jack of all trades, master of none, which in 2016 is hard.” 


Base salaries are rising, albeit slowly.  While incentive compensation remains a big part of how the industry pays people, a variety of forces (tech industry including startups, European banks, loss of faith in bonuses) continue to push base salaries up.  We have seen more than one firm adjust base bands this year.  Note that the market remains tepid, and people moving laterally are more likely to see a 10% increase than 20%, which used to be the norm.  Wondering where you stand on comp?  Call me.

“side code projects”

I saw this on LinkedIn the other day and thought it was great “No, I have no side code projects to show you.”  Anyone who’s been on a tech interview in the past few years can relate to this article.

Direction for Hedge Funds

Who am I to say where hedge funds are going?  I wouldn’t bet against Manoj Narang, however.  What he says in this interview sure makes a lot of sense.  I don’t think you have to wonder who the smartest guy in the room is when he’s present.  Also, here’s a follow-up article on Quantopian, a fascinating crowd-sourced fund that may disrupt the industry, through its ability to attract “Young talent.”

Lighter Note

I’m a huge fan of The Moth.  This story is perfect for this crowd “Data Mining for Dates.”

Current Priorities

Buy Side

  • Senior data warehouse developer
  • Elite C++/Python developers to work at one of the industry’s most prestigious funds
  • Low-latency C++ developer for expanding prop shop
  • Java or C# developer to work on Risk and Performance Attribution system
  • C# contractor
  • Hands-on dev manager for Trade Flow group
  • Junior Python, AWS, JavaScript developer – 2+ years’ experience

Sell Side

  • Equities division seeks C++ developer for algo trading
  • Desk Strat – Credit Algo/eTrading
  • C++/Java/Scala developer for fixed income model integration
  • Market Risk SME Project Manager
  • Java algo trading developer – Equities
  • Java algo trading developer – Fixed Income Credit
  • JavaScript contractor for Credit Strats group
  • KDB developer for equity market data