Citadel quant salary reddit.

Citadel quant salary reddit But the pay for Two Sigma is similar to FAANG and Citadel is known for horrible work life balance (basically the Amazon of hedge fund firms). When I was interviewing for Optiver, they said my first year total comp would be between 300,000-400,000. After Matt Greenwood, the chief innovation officer of Two Sigma, the New York-based hedge fund, said a few weeks ago that mid-ranking quants are in a slough of despair, a New York recruiter says hedge fund quant developers on $600k probably need to prepare for a pay cut. Posted by u/Electrical_Ad_9568 - 234 votes and 68 comments We would like to show you a description here but the site won’t allow us. I am being offered a base salary of $200,000 with a 20% performance bonus tied to PnL generated. In the tech space this means being a startup founder. but just curious, given the reputation for long working hours and strict culture. Won’t be able to offer much advice. We would like to show you a description here but the site won’t allow us. I then moved to a top tier HF (Citadel, Point72, Millennium, Balyasny AM, TwoSigma, DEShaw) more in the quantitative trading/research side. Thought I'd share my experience recruiting for qt roles cause most posts on this sub are swe focused. Working at one of the 4 big HF citadel, point72, Balyasny, millennium. i don't the upper bound is only for quant or trading if you are really good, ideally you also have competing offers to negotiate (emphasis mine) Not necessarily, a friend of mine got a £300k TC offer for a pure SWE role (not QR or trader) in London, and he said that was without a competing offer! it depends on a few factors. I do not know much about the intern salaries there (or at least the range), I only know they are (relatively) high and am really curious about the numbers. Citadel Securities Quant Invitational Ignite Women's Trading Program the base salary range for this role is $250,000 to $350,000. Non-competes in finance seem to work much differently from what I have heard (second hand) is generally elsewhere. Posted by u/BrainBoy170 - 3 votes and 20 comments I wanted to check whether this package was reasonable and in line with what a systematic/quant PM package would look like at a large multi-manager like Millennium or Balyasny. Your corporate grade, and most important, what is the corporate grade of the quant role it is you're applying for? Understand that the base salary for someone of a similar role and a similar corporate grade would be Firm: A large sell-side firm Location: Bangalore Role: Quant risk YoE: 6 years Salary: Around 35 LPA Bonus: 20-30 % Hours worked per week: 35-40 We would like to show you a description here but the site won’t allow us. May 2, 2006 · After sharing the compensation data, I received many inquiries on LinkedIn about the differences in compensation among Quant Traders (QT), Quant Developers (QD), and Quant Researchers (QR). new grads are usually in the 200-250k range. But from my limited circle in this field, most cases someone with a master's degree in math or other quantitative fields starts at 22/23 as a quant dev or Jr Quant arbitrage can get a base pay of 150-180k with TC of 220-250k. Citadel's internship can land you in their FTAP program which is know throughout the industry. 20% of Citadel's investors are employees, possibly more (and the amount invested in the fund grows disproportionately with seniority/role), so in total citadel staff and board made 12B fees + 20% of 16B ≈ 15B. The CFTC published a report on HFT returns 10-15 years ago which showed that near triple-digit returns aren't uncommon. Citadel made 28B gross last year, and returned investors 16B net of fees. Here’s a quick rundown of their roles and typical compensation structures. I've really capitalized on the past 2 years market volatility. They have 1. There is a lot of gate keeping in investment banking: quant roles generally require masters or phds, analyst roles generally require strong academic performance in undergrad and internship experience, and entering as an associate usually requires an MBA and possibly a CFA or some other credentials. Has probably published a bunch of research papers / been a professor at university. I think they have some great exits if they ever want to leave. ) end up doing 10-15 years down the line? Title. Trying to get an understanding of the spectrum of returns in quant trading: from individual strategies to firm-wide performance Firms like Renaissance Technologies have been cited to produce annual returns in the ballpark of 70-80%, though I can't confirm the risk-adjusted nature of these figures. I would say those two are comparable to G. So doubling your salary might be more like 1. I would say average comp for average year for average 4 yoe quant should be around 500-600k. Obfuscating salary by 25k could help you ensure its anonymity if that's desired while preserving most information! Here's the template I'll use. Posted by u/9_5B-Lo-9_m35iih7358 - 15 votes and 2 comments But still, I was just wondering what the best way to for Citadel trading interviews, or any general trading interview was. expected bonus should be somewhere in the ball park of base pay for new grad. They are literally the top 1% of Stanford. It is imperative to maintain the interns because hiring is much more expensive. Curious about your guy's salary and career progression. All have 4. I personally know an experienced (risk taking, not execution) quant trader at Citadel who makes less than that amount. Received a fulltime quant dev offer with a minimum guaranteed first year comp of $330K. academic research != quant research and there are very few things that overlap. My current comp is around 240K, which I think is pretty low. Your experience. I have 3 years of experience as a quant risk modeler in a Swiss Bank, where I currently earn 100k/year. 5 years out, Citadel will pay just as well as FB if not more, depending on what part of Citadel's business you work for. Last I talked to them they were actively looking for quant or quant dev jobs. what sort of things do interns work on, is it any fun? asking about swe or quant developers. What type of quant you are. highest guaranteed 1st year JS offer for a new grad i've seen was 900k in 2021 (expect lower for 2022+), which included sign on. While quant traders are well compensated, they don't enjoy title bumps and career progression that people at FAANG have. com), except for new grad offers as I figured that recruiting season is mostly over by now. Anyway this is not salary, interns do 3-4months there. I doubt that the graduate salary is going to be that high. also curious about two sigma bc I've heard the environment there is the polar opposite of citadel. The top numbers look excessive. … This is inspired by 2023 Quant Total Compensation Thread : quant (reddit. The issue lies in scalability; for instance, you might for instance be able to achieve a 90% annual return on $10 million, but things start to break down at $15 million. $400k base tends to be the ceiling for most career quants in my experience, although the best quants and those at top funds will be able to get a higher base. Hi, so I am thinking of applying for a quantitative trading/research internship for 2021 (know it is a long way, but prefer to think in advance), and looking mostly at HF/prop shops in London. I’m just starting my quantitative researcher position at a bank, and my base salary is 150,000 with a target bonus of 125,000. The average additional pay is $182K per year, which could include cash bonus, stock, commission, profit sharing or tips. 05% in terms of intelligence. At big BB's: it's like this. They went to a top target. You are working for the people actually working in quant finance. S. For reference, my firm's new grad package is around 220k-250k. anyone know about this firm (g-research)? I have never heard of them but a recruiter told me they offer base £415,000 which… It is objectively worse, being a swe in quant firms vs being a swe in tech. I became a quant right after a PhD and am now a year 3 quant. DM me if curious Go to Optiver if you're okay with working 50-55 hr weeks and want to get responsibility very fast and get paid accordingly. Your level of education. 0, etc etc. Do note that this is essentially the full time analyst pay you can expect to get if you get converted from your internship. Can I expect my base salary to be quite higher than what I currently earn? To make things clear I worked 6y in a top 3 Bulge bracket (GS, JP, MS) as a derivatives trader. It's quite common for the high end quant market makers like citadel/Jane street etc. “It's not easy being a hedge fund quant or quant developer. This total comp usually has the same or slightly higher salary than the new grad offer. This isn't to say that more quantitative roles pay more or anything like that. 8 bn AuM and employ 25 people. Around 140k is salary, and the rest is signing bonus/yearly bonus. The “Most Likely Range” reflects values within the 25th and 75th percentile of all pay data available for this role. e: I don't understand all the downvotes. Double your salary and double your expenses won’t double your savings. A user shares their total compensation as a quant at Citadel Securities and gets many comments and questions from other quants. This is obviously not a bitcoin or nvda holder, but it is likely some team in {Citadel hf+mm, Jane Street, Renaissance}. Have any software engineers here made the move from a FAANG to a quant/systematic trading firm? These are some of the only… Unless you’re an executive or superstar PM at a massive hedge fund, you’re not gonna get 9 figures on a company salary. Base got to $400k, largest bonus I got was just under $850k, but I was earning $350k base at the time, still the most TC I pulled in 1 year though. 84 votes, 48 comments. Most if not all competed in math Olympiad, usaco, IOI, the list goes on. An internship shouldn't be about the money. In the meantime, Two Sigma and Citadel are different stories. I'm not even saying it's Citadel or bust either. I’m in the interview process for a quant researcher position in a Hedge Fund based in Switzerland. He’s right to an extent. What do quant traders at top firms (Jane Street, Citadel, etc. You are not working in quant finance if you are a software engineer at a quant finance firm (and you are not paid as if you work in quant finance, and there isn't as much stress as if you were working in quant finance). Edited out my salary progression because Nectarine below accused me of flexing. The salary progression isn’t going to be anywhere near as great as front office roles, as a rough estimate I’d say junior come in ~80-120k and then move up to ~200-250k, don’t think I’ve seen many (if any) back office quant roles >250k except for senior management. So between 250,000 and 400,000 seems like a reasonable ballpark for a quant research position. ehhh. But 5 years at a quant fund at junior levels obviously nets you a lot more money and that is how they attract candidates. In my experience, there are certain firms that are known for paying way above their competitors, and sometimes just to stop other firms from hiring the talent. PhD quant here. lmao im def not getting an internship in fintech, haven't got the brains for it. If you want the big bucks, you need to take on risk. a close friend of mine works at one of the above and the interview was NOT easy for him. Tbf those are super outlier outcomes and are out of reach for the vast majority of students. The whole point of my post is to clear up a misconception. I have been working as quant researcher for about 3 years at one of the top 20 hedge funds in US (not quant hedge fund). over Citadel as an engineer, and there are certainly other better trading firms to be at as a SWE. Your average tax rate will be higher if you make more. If you mean quant with 4 years of experience within a hedge fund, then it heavily depends on performances. 8x your salary while doubling your expenses. 244K subscribers in the csMajors community. 150 votes, 92 comments. Citadel Securities Quant Invitational Ignite Women's Trading Program the base salary range for this role is $175,000 to $350,000. Nov 13, 2022 · Theres many posts about Citadel NG pay, how does this scale as you work more years? how much do senior quants and MD quants make at Citadel and CitSec? #tech #citadel #citadelsecurities Apr 10, 2025 · The average Quantitative Researcher base salary at Citadel is $216K per year. Some of these firms include Citadel (Securities & GQS), Millennium, Jump Trading & Tower Research Jan 27, 2019 · From lowest to highest first year compensation, the companies went Two Sigma, DE Shaw, Five Rings, Jump, Old Mission, Hudson River Trading, and Citadel. In the quant space it means starting your own firm. there's more overlap in a back office quant role, but it's still not a big enough overlap to offset someone with the equivalent number of years in industry Citadel Quant Intern: PhD in Math/Statistics/Physics (minimum requirement) who has probably won a math Olympiad at some point. Obviously there are also people who had a 9 figure year at Citadel after 10 ish years. The first one has more success stories. You'll handle real money after a few months. Over the past 3 years I have been working really hard, so feel like understand a lot on how PMs think about different strategies and I also understand well derivatives. Two Sigma was 250k first year all in (150k base, 50k sign, 50k guaranteed bonus) and Citadel was 400k first year (150k base, 150k sign, 100k guaranteed bonus). if you've interned at either of these 512 votes, 195 comments. Probably in the top 0. I have SWE new grad offers from firms like Jane Street/HRT/Citadel/IMC/etc (not all but you get the gist). See the salary, bonus, hours and job satisfaction of a quant at Citadel Securities and compare with other firms. . in expectation, the ROI and opportunity cost with a PhD pales in comparison to a B. I'm currently in the process of citadel's quant internship, but im quite confused as to how it works I chose semisystems trader as it seems the closest to quant internships from other firms, but the interview says it might include finance knowledge (stock pitch) and programming Companies like Citadel, Jane Street, Hudson River Trading, DE Shaw and Two Sigma all pay an insane amount for talent. All about studying and students of computer science. I have a PhD and have been at the same company. sign on depends how much they want you. Probably quant trader and quant analyst as well but I haven't seen the offers for those. in STEM + 5 years as a quant. this candidate had a competing offer from citadel HF. The other friend does a lot of fairly quantitative work (as a trader) and I'm 1000 bid in infinite size for their comp. We care about who has the biggest (in dollars) forward-looking expected value of alpha at decent (say, >3) sharpe. For finance Citadel is certainly a "grail" for most people, and for engineering its also pretty up there*, but you can make a good argument for going to Google/Meta/Other top tech co. For people 3-5 years out, the compensation range is quite wide with total comp going from 250k-500k+. I get that there are a lot of great trading firms out there, but I want to be in a place where it seems more well rounded. And I would ignore the 2k different. Yea that's total comp So a 350 would actually be 175 base + 175 sign on Careful with citadel tho if you get fired before end of year one you have to pay the prorated amount of sign on back and idk how much they fire for qr but they fire ~25% of ng traders Finishing up my bachelors in CS (and math minor) this year and finished my job search for full time. You rather have 5 yoe at a top unicorn or even big tech than 5 yoe at citadel/two sigma etc. I graduated from Stanford and everyone I know who made it into quant at citadel/js/jump/hrt are absolute demons. It’s looking like I’ll soon have to sit out for a year and a half after leaving my current quant trading gig. Most of the positions are either quant researcher, quant dev or just software engineer. 320 votes, 208 comments. Yes it definitely depends on the company's pay structure, like for 2021 onwards flow traders pays out 35% of the bonus over 4 years but this would still be taken into account as "unrecognised variable expenses", pre 2021 bonuses were given in the year that the bonus was recognised so the values above were indeed from 2020 results. Possibly some other more secretive quant fund like TGS. Yeah but anyone can do it if they plan a bit ahead, you can go this high for swe too Intern random company -> intern at faang++/smaller quant firm -> intern at cit/js/radix/hrt/other prestigious firm -> interview for other firms for new grad when you get your return offer -> bid them against eachother to get 500-600k first year tc If you are asking about Engineering @ Citadel, you won't get a good answer on this subreddit. It is very cheap for the companies to pay interns as they do not pay insurance and other stuff. Background - Sophomore at a T10 CS state school majoring in CS but probably graduating early. Seeking… 300k base pay is for experienced hires. Actually everyone in sell side just want to break into the buy side. qghb wgmkap yjj hyox avy fudjr seqr kxf olsj bpzkkj yxz qljm tuciwz utj zyxvtuv