Aman Manazir · Video summary
24-Year-Old Quant: The Reality of Making $700,000/year (in NYC)
A 25-year-old software engineer in New York City shares her financial journey, from making $350,000 in quant to $700,000 at an AI startup, detailing her income, expenses, and investment strategies.
Watch on YouTube ↗Key takeaways
- 💡Helen's career shift from quant to an AI startup was driven by a desire for more tangible and interesting work, despite a lower initial cash salary.00:31
- 📈Her total compensation at the AI startup is $700,000, with a significant portion (currently $500,000) in equity due to company valuation growth.01:22
- 💸Despite a high gross income, her $240,000 base salary results in only $11,000 monthly take-home after 43% taxes and contributions, highlighting the impact of high-tax states.03:05
- 🏡Helen pays $0 in rent, as her boyfriend covers their $5,600 Jersey City high-rise rent, a strategic decision given her equity-heavy compensation.04:17
- 🏙️Living in Jersey City saves them $3,000-$4,000 a month compared to a similar apartment in Manhattan, offering luxury amenities at a lower cost.05:37
- 📱Her $200/month phone plan, which allows annual iPhone upgrades and unlimited data/hotspot, is a significant personal expense she values for convenience.08:22
Chapters
- 0:00Introduction
- 0:10Debt & Transit
- 0:10Quant Salary vs. AI Startup Salary
- 0:11Fun & Irresponsible Expenses
- 0:13Health & Beauty
- 0:15Clothes & Subscriptions
- 0:17Savings & Investments
- 0:18Financial Philosophy & Future Goals
- 0:21Groceries & Utilities
- 0:21Base Salary Breakdown
- 0:24Tech Perks & Money Mindset
- 0:42Rent & Living in Jersey City
The digest
Helen, a 25-year-old software engineer based in New York City, offers a candid look into her financial life, revealing how she transitioned from a lucrative quant role to an AI startup, significantly increasing her total compensation to $700,000 a year. Her story provides fascinating insights into high-earning tech careers, the realities of living in a major metropolitan area, and a unique approach to managing wealth.
The Shift from Quant to AI
Helen's career began in quant at Old Mission Capital, where in her last year, she earned $350,000—a base salary of $200,000 and a $150,000 bonus. Despite the impressive income, she found the work unfulfilling. The problems, while challenging, didn't ignite her passion, especially with the rise of AI and its more tangible applications. She yearned to work on products that had a visible impact, a stark contrast to the internal and often abstract nature of quant work.
This desire for more meaningful work led her to an AI startup, a move that dramatically altered her compensation structure and overall earnings. Her current role at the AI startup brings in $700,000 annually, comprising a $240,000 base salary and a substantial equity component. Initially granted $150,000 in equity, with refreshers and additional grants, the growth in the company's valuation has pushed her annual equity value to $500,000. This equity, structured as RSUs (Restricted Stock Units), is taxed at IPO, offering a different financial dynamic compared to her previous all-cash quant compensation.
Keep reading in The Digest
The full 3-minute article, 4 more sections, and every new episode from Aman Manazir and the creators you follow.
- Navigating Taxes and Net Income
- Rent and Living in Jersey City
- Monthly Expenses: Groceries, Utilities, and a $200 Phone Plan
- Lifestyle and Savings
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