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High-Frequency Programmers Revolt Over Pay

Posted by kdawson on from the crying-all-the-way dept.

An anonymous reader writes "Programmers who design and code algorithms for investment banking are unhappy with their salaries. Many of them receive a low 6-figure salary whereas their bosses — who manipulate these algorithms and execute the trades — often earn millions. One such anonymous programmer points out that he was paid $150,000 per year, whereas the software he wrote was generating $100,000 per day."

4 of 1,018 comments (clear)

  1. Boo Effin Hoo by fatboy · · Score: 0, Troll

    How can the guy survive on 150K a year? I bet he had to settle for a little cuddy instead of getting the large custom houseboat. Cry me a river.

    --
    --fatboy
  2. Re:Right... by SupremoMan · · Score: 0, Troll

    Both of which cost millions if I may add. If these "poor" souls feel so used, they should quit. Then they can sit at home reading the classifieds as some guy from India does their job for 10K a year and an apartment with no furniture.

  3. Re:Yet...he agreed to it right? by commodore64_love · · Score: 0, Troll

    Well if I might use a car example..... Nah let's make it a computer. The Seller sold it to me for $210 and free shipping. She then decided not to deliver the Microsoft Office software promised in the auction because "you already got a great deal" and "wants to sell MS Office for $100 to make up for my loss".

    i.e. She's suffering Seller Remorse because she didn't get as much money as she wanted ($400). These banking programmers who think $150,000 is not enough are suffering the same effect, and now they are whining about it.
    .

    >>>It's sometimes hard to tell what a job will entail until you've done it (early in your career)

    Too bad. You should still place the blame *on yourself* not on your buyer. And use the lesson learned to ask for more money on the next sale
    .

    --
    "I disapprove of what you say, but I will defend to the death your right to say it." - historian Evelyn Beatrice Hall
  4. Re:Bosses earn too much by tehcyder · · Score: 1, Troll

    Yeah, really. Six figures for a programming job is fantastic pretty much no matter how you slice it. If it seems like the guy who's making ten times that isn't contributing a commensurate amount over what you do, well, welcome to reality. Especially the reality of trading and finance.

    The trader who earns ten times more than you is directly earning the company money, you are just part of the overhead. If he makes the company one hundred million profit in a year, it's not unreasonable for him to earn ten million or more.

    --
    To have a right to do a thing is not at all the same as to be right in doing it