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EVT


Total Posts: 105
Joined: Feb 2005
 
Posted: 2016-04-12 12:00
What are the typical salary for a trade monitor role?

Ie switch on and off strategies. Make sure they arent overtrading etc . And troubleshooting issues related to trading

Nonius
Founding Member
Nonius Unbound
Total Posts: 12664
Joined: Mar 2004
 
Posted: 2016-04-12 21:32
are you talking about the guys who sit there and watch algos doing their jobs? I've seen a situation where the guys who do the research on not only the signals but also all the other elements including thresholds and sizing and execution ALSO are doing that. watching the screen whilst the paint dries and the PL clicks clicks clicks. those guys that do all those things, i.e. A to Z get paid ok. The guys who simply watch the screen from a risk monitoring perspective, hmm.. seen those guys too. I'd wager at least in Europe it's something like 50K EUR base and a small bonus. I wouldn't pay anymore than that. In some sense that job can be automated by meta-algorithms.

I used to watch this one guy watching algos that he probably had little involvement in developing. a sort of situation of decent legacy algos being passed from one mofo to the next as the mofos go through the revolving door to new shops. The dude, who was very lanky and tall, would stretch out as if he were in a 5 star hotel and put his boots on the desk and check his iPhone all day long, only to be interrupted by taking in the splendour of a nice positive sloped intraday PL curve.

Chiral is Tyler Durden

EVT


Total Posts: 105
Joined: Feb 2005
 
Posted: 2016-04-13 13:53
Kind off. Essentially starting algos up. Watching them perform. Troubleshooting if they don't. E.G stopping algos. Closing them out. Dealing with the exchange, networks etc Report back to quant traders what is going on etc. Look at algo could be improved etc.

Kind of did this a while ago. Base was significantly higher than 50k eur thats for sure. So wanted to know what the current level out there was.

HitmanH


Total Posts: 420
Joined: Apr 2005
 
Posted: 2016-04-13 14:26
Most junior guy on the team now - or lives with someone in ops/middle office.

Agreed some time ago people used to think there was value in that - but now - most decent firms have realized that there is limited value in it...

EVT


Total Posts: 105
Joined: Feb 2005
 
Posted: 2016-04-13 14:40
What does the guy exactly do there?

The role I was HH for said Linux, python and sql experience required as well as trading...

Nonius
Founding Member
Nonius Unbound
Total Posts: 12664
Joined: Mar 2004
 
Posted: 2016-04-13 17:03
that sounds like more than trade monitoring. in any event, the guys I know watching that stuff are monitoring not only PL but also monitoring and mitigating things like feeds going down, when there's an overshoot in one of the limits (beta exposure, order sending speed, gross exposure etc) or whether some stock mysteriiously plunges or shoots up (or both) by a huge amount. the alarms are pretty fucking annoying actually- the probability that at least one of 50 machines will sound some alarm within a few minutes is high. I never saw someone pull the plug just cuz money was being lost; maybe it was just the particular space but often in the AM you cludl see large negative PL moves, sometimes scary looking, only to see a strong upward PL in the afternoon. morning negative afternoon positive was pretty common.

Chiral is Tyler Durden

HitmanH


Total Posts: 420
Joined: Apr 2005
 
Posted: 2016-04-13 17:53
That sounds familiar. Know that WorldQuant have been hiring for these kind of roles and with similar titles in last 12m.

At interview they sit you down at a terminal and code up, retrieve some info - hence Py & SQL on Linux requirements (although I didn't think they were language specific).

Role as they have it is initially monitoring strategies, making sure they go through ok. But they want ppl who are tech and market saavy enough to get the microstructure - and look to improve, combine etc - which won't interfere with the researcher's longer term alpha...

EVT


Total Posts: 105
Joined: Feb 2005
 
Posted: 2016-04-14 08:58
exactly HitmanH. That is the role advertised.

They asked me to tell me what my comp should be for this role so want to come in at a decent figure.

I've done this role before a few years back and pay was sign higher than 50k eur so want to know what kind of level one would expect now. Role in London.

HitmanH


Total Posts: 420
Joined: Apr 2005
 
Posted: 2016-04-14 11:36
PM / email me EVT - know someone in the role (albeit in another geog) - will reach out to him...

EVT


Total Posts: 105
Joined: Feb 2005
 
Posted: 2016-04-14 13:03
Sweet. Send you an email this evening
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