Pretty sure quant researchers at top hedge funds make more than fang engineers. But how much do they make at banks and financial firms (Goldman, JP Morgan, blackrock, etc.). Anyone have datapoints?
Quant researchers make less than Quant
“quant researcher” can mean many things at a bank. and by bank, i’m guessing you mean broader finance, which would include the buy side as well. here’s the thing about finance - you eat what you kill. it’s purely a function of what your team brings in, how many of you are there, what your pecking order is, and how much power your team has over the broader org (for example, can you lift out easily and take all your clients with you). that said, by nature these things tend to hit an equilibrium. to put some numbers to it, $150k is low and $600-$700 is pretty fucking good. i don’t have stats to back me up, but anecdotally, after 5-10 years most are in the $300k-$400k range. but again, it’s all about the team and what you’re bringing in. “quant” in the back office a la risk or attribution? you’ll be happy to clear $150 in NYC unless you manage a team. HFT firms like Jane Street are a different ball game and i don’t know where they come in.
Sounds reasonable
@new-bitshift, what kind of work Quants who come from PhD engineering background do? is there daily work just as high strung as a trader's or as glamorous as people think? how much they make when joining right after PhD? (e.g. consider some hired by Goldman sachs after a PhD in purely electrical-engineering from a top school like MIT or CMU without any previous finance background)
Friend in PE makes over $1mil a year at 30 years old. Not bad if you ask me
What firm?
PE is a different story. They don’t hire quant. They do traditional analysis.
Less than faangm but still really fucking good
He’s asking numbers.