Hi, I will be a new quant very soon. Can I ask quantitative researchers mention their tc progression and their firms if possible? E.g. Citadel 1yoe: 400 2yoe: 500 ... #finance #quant #twosigma #citadel #deshaw #millenniummanagement #jumptrading #hrt #janestreet #towerresearchcapital #point72 #akunacapital #sig #aqr #squarepointcapital
do you have a PhD? What's your 1st year package like?
DE Shaw https://us.teamblind.com/s/rRTrGRqG 150 160 250 350 575 485 750 750 2250 2000 1350 3000 5000 5000
I just wanted to personally thank you for your answers in this thread an the other one.
This might be the first set of believable numbers I've seen
There is no "tc progression timeline" for a quant. It's completely dependent on your performance. If you plod along doing useful work but not making any huge contributions to pnl, your tc will stagnate fairly close to your starting salary, with normal bumps for firmwide-performance and inflation. At a top-tier firm like Citadel, if you're a superstar who comes up with something new that generates $100M+ is trading pnl, the sky's the limit for your TC. A long time ago, someone told me a good rule of thumb for someone who "owns" a strategy or business is 10% of pnl. I have no data to support this but I do believe that this is the only way to really grow your comp above ~$2M.
On the hedge fund side of Citadel, traders play a similar role to quants on the quantitative side so I'd assume the tc trajectory works the same way (although an underperforming trader is far more likely to get fired).
Any insight on SIG? Specifically considering them due to proximity to family.
Hey, how was your jump from salesforce to quant? Yoe? PhD? Interview prep?
I was just an intern at Salesforce. I graduated with ML PhD (~1000 citations) from top-3. It happened so suddenly that I didnāt get enough time to prep but I would recommend solving a lot of probability brain teasers.
Congrats !! Looks like an awesome opportunity
Hi how did you get the quantitative research role? Any advice?
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In general for top tier firms, the minimum is: 1 yoe: 300-400 2 yoe: 400-500 5 yoe: 700-2M 10 yoe: 2M-10M+ Of course, it can be significantly more depending on the year (such as 2020). However, if you underperform, you can and will be fired with zero bonus.
How many/where are your data points from?
These numbers are grossly overinflated. I'm sure some quants achieve 2-10M after 10 years but it's far from the "minimum"