Quant Director Base Salary
What’s the base salary for quant directors in the top banks? I’ll start - at BoFA it is 300K. Curious to hear numbers at equivalent levels at other places like JP Morgan / Morgan Stanley / Citi etc. # JP Morgan # Citi # Morgan Stanley
my old strats md had a 600k base
at bofa or goldman?
To clarify, as the title says we are only talking about base salary here. The base salary for a quant director at BoFA is currently set at 300K. Bonus can be variable so I purposely kept it out of the discussion for now.
bonus isn't much variable I think for them it's at least 60 to 70 percent, no?
Agree on the comment above about MD being the real role of power. There is no question about that and determining or stating whether a director at BoFA is a role of power was not the purpose of this discussion tbh :)
What’s your total comp ?
450 K
As an etrading or pricing model quant?
For buy sides, base is lower, like 180 or 200k.
FO or risk? What about TC for VP?
This is for FO quant groups.
Do legacy banks offer tons of equity at this level? I don’t understand how they retain talent when you could jump to a faang or fintech startup for much higher TC.
Director isn't a super senior role, not apples to apples when you think of Director at Meta or other FAANG. In the banks, MD is the real role of power and it's a huge leap from Director to MD. At a FAANG a Director would probably be an M1 or perhaps M2 if they have a large org. Still better money, and Meta hires a lot in NYC from the financial sector. But I hear people now say that with the low stock price, their TC was higher at their last job.
$300k TC seems like M0, no?