How can you know it's a sucker deal without knowing the numbers? $80k + a $10k bonus is bad, sure. But $50k + a $500k bonus is great even if you only get it once every 3-4 years (and as other comments point out the bonuses happen more often than not and are significant figures even relative to yearly compensation).
It's a sucker deal because they're offering not to tell you what the numbers are, and you have no meaningful way to influence them. You accept a share of their risk without gaining any compensating control over the outcome.
120-140K base with a 60-70K bonus was about where the average was for tech programmers. This is barely competitive in NY during the good years -- it sure as heck doesn't fly in bad years.
Quant technologists are a different beast. Like traders, they eat what they kill, and a 50/500 payout matrix may well make sense for them.
