Once again, the ability to code is trumping all other skills, again lending credence to the “learn to code” joke that came off as so harsh to the liberal social media elite that it wound up getting people banned from Twitter.
But the adage is holding true in the bond market, according to Bloomberg, where quants are now striking it rich with the ability to code. The bond market is getting “wired up by systematic players” and firms are scrambling to scoop up the best talent.
Hedge funds are stealing each others’ talent and trying to entice employees with robust compensation packages. For instance, credit-quant clients at Selby Jennings in London are offering annual compensation of $400,000 to a Ph.D. graduate with five years’ experience as a desk strategist.