ThisSmellsWrong wrote:
old timer here wrote:My friend's son recently graduated with a PhD in physics from a top 10 school, and his first job out of graduate school is paying a salary of $500k. From what I was told, physics PhDs are in heavy demand in every technical sector now including tech and finance. I hear that many are choosing to not go into academia because of this. Times sure have changed!!
I have a physics PhD and I work in finance. I can tell you right off the bat that this is a load of BS. Nobody is hiring someone with zero experience on a $500k salary. Maybe after you've proven yourself to be a valuable resource you can command that salary, but it doesn't happen out of the blocks. Even senior people rarely get that as a salary.
Total comp is another issue, however. Bonuses can be astronomical. But not likely in the first year.
It would be very out of the ordinary for someone unproven in finance to start on anything more than $150k. If you had a stellar first year, your total comp could be $300k or more - but again this would be completely atypical. No fresh physics PhD is guaranteed $500k.
I'm guessing the OP meant total comp. Like something like this:
https://www.glassdoor.com/Salary/D-E-Shaw-and-Co-Investment-Firm-Quantitative-Analyst-Salaries-E29290_D_KO32,52.htm