Wall Street Quants Not Interested In Startups
from the pay-cut dept
With Wall Street firms crashing left and right, some tech startup investors thought there would be plenty of smart and available talent in NYC looking for work, who might be persuaded to join startups. Turns out that it hasn’t worked that way. Laid off Wall St. quants seem to want to stay on Wall Street, and don’t seem particularly interested in joining startups at a greatly reduced salary and a small chance for eventual stock option wealth. This actually might be for the best. It helps to really believe in what a startup is doing before committing to it — and a lot (certainly not all) of the Wall St. folks are simply focused on making lots of money as quickly as possible. That doesn’t always mix well in a tech startup.