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Comment by JumpCrisscross | Hacker News Reader

> recent graduates working at hedge funds made significantly more than their peers working at banks

This has always been true, for the entirety of my career. Buy side pays more than sell side for alpha-generating activities. (Sell side pays more for flow and scaling advantages.)

This article strikes me as a submarine [1] for Baruch’s program.

[1] http://paulgraham.com/submarine.html

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Agreed. Otherwise the story makes no sense. It's always been the case that hedge funds pay more than banks just like silicon valley pays more than government. This is so well known, I knew it when I was a kid and people outside of the finance industry are aware of it.

seriously, no disrespect to Baruch, but if Baruch grads are making up to $1MM, are MIT grades making $5MM?

"up to" means "less than or equal to". I'm sure there is one Baruch who has earned $1MM.

Considering that QuantNet ranks Baruch's Financial Eng program #2 (behind Princeton's) and that MIT ranks #10, I'd say you may be jumping to conclusions...

https://quantnet.com/mfe-programs-rankings/

Is "submarine" just "Trojan horse"?

If you read the linked article you'd see that it's a more specific phenomenon to news articles. Maybe you'd consider it a type of trojan horse because it's misleading.

You could call it the news industry's equivalent of tv/movie's sneaky product placement. A paid ad pretending to be a legitimate news story just like a product placement is a paid ad pretending to be part of the plot.

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