SERVING THE QUANTITATIVE FINANCE COMMUNITY

 
User avatar
Papero
Topic Author
Posts: 35
Joined: July 14th, 2002, 3:00 am

Surveys for quant salary

November 1st, 2012, 11:05 pm

I am fighting with my human resources and I need some quantitative data to support my requests.A recent survey reporting average salaries for quant people in different areas (front office, risk management, etc.) and countries would be very helpful.Anyone does know such a report ?Even a simple thing would be better than nothing.Thank you in advance, I will tell the rest of the story.
 
User avatar
Hansi
Posts: 3300
Joined: January 25th, 2010, 11:47 am

Surveys for quant salary

November 2nd, 2012, 7:17 am

Doesn't cover everything but there are some data points there + the other ones on the left hand side. Seem mainly risk:http://quantjob.blogspot.co.uk/2011/12/ ... ation.html
 
User avatar
gc
Posts: 673
Joined: September 21st, 2002, 10:08 pm

Surveys for quant salary

November 2nd, 2012, 8:30 am

Also have a look at Glassdoor...
 
User avatar
AndyNguyen
Posts: 166
Joined: December 10th, 2007, 4:08 am

Surveys for quant salary

November 2nd, 2012, 11:23 am

We have a quant salary database of people with MFE/PHD degree and you can filter using location/job/firm/etc. May be close to what you are looking for.QuantNet Quant Salary Database
 
User avatar
Papero
Topic Author
Posts: 35
Joined: July 14th, 2002, 3:00 am

Surveys for quant salary

November 2nd, 2012, 2:06 pm

Thanks Hansi, this http://2.bp.blogspot.com/-eSYGXmotrXw/T ... skRank.jpg is interesting, and I also remember this survey, but where is the final report ? Is anyone able to post the URL ?I feel this is useful for everybody.ThanksQuoteOriginally posted by: HansiDoesn't cover everything but there are some data points there + the other ones on the left hand side. Seem mainly risk:http://quantjob.blogspot.co.uk/2011/12/ ... ation.html
 
User avatar
mit
Posts: 1169
Joined: February 5th, 2005, 4:52 pm

Surveys for quant salary

November 6th, 2012, 5:17 am

QuoteOriginally posted by: AndyNguyenWe have a quant salary database of people with MFE/PHD degree and you can filter using location/job/firm/etc. May be close to what you are looking for.QuantNet Quant Salary Databaseandy, doesnt it look a little low
 
User avatar
ThinkDifferent
Posts: 659
Joined: March 14th, 2007, 1:09 pm

Surveys for quant salary

November 7th, 2012, 12:48 am

Quoteandy, doesnt it look a little low it is what it is. based on real data i assume. feel free to skew it to the better side
 
User avatar
AndyNguyen
Posts: 166
Joined: December 10th, 2007, 4:08 am

Surveys for quant salary

November 7th, 2012, 2:20 pm

QuoteOriginally posted by: mitandy, doesnt it look a little lowQuoteOriginally posted by: ThinkDifferentit is what it is. based on real data i assume. feel free to skew it to the better side I don't know if it's low or not because we don't have a good benchmark to compare with.The numbers are based on the data submitted by our members, majority of them with a quant degree (MFE/PhD), working around the globe.So the number is what it is. Most people have no reason to enter a bogus number to skew it up since they will compare their own input to other people in comparable positions/location/etc.If any submission is obviously bogus, I would remove it
 
User avatar
EscapeArtist999
Posts: 1620
Joined: May 20th, 2009, 2:49 pm

Surveys for quant salary

November 7th, 2012, 2:34 pm

Quant has always been a moderately well paid service job... Far better to answer the phone and take the order than make the doughnuts.
 
User avatar
katastrofa
Posts: 9579
Joined: August 16th, 2007, 5:36 am
Location: Alpha Centauri

Surveys for quant salary

November 7th, 2012, 2:52 pm

Postdoc salary: £30kLowest starting quant salary: £45-50k + bonusWorking hours are the same or lighter for quants. Come on.
Last edited by katastrofa on November 6th, 2012, 11:00 pm, edited 1 time in total.
 
User avatar
EscapeArtist999
Posts: 1620
Joined: May 20th, 2009, 2:49 pm

Surveys for quant salary

November 7th, 2012, 3:40 pm

QuoteOriginally posted by: katastrofaPostdoc salary: £30kLowest starting quant salary: £45-50k + bonusWorking hours are the same or lighter for quants. Come on.Postdoc = Space Cadet Living on the MoonQuant = Space Cadet Living on Earth. Moral of the story: DON'T BE A SPACE CADET IN THE FIRST PLACE!But it's academic as the quant indstry is largely dead unles you do HF (mildly respectable) or if you are at a bank unfortunately the you are doing some risk or regulation things - franky the sort of waste of time stuff that pays not particularly well. Going into finance is for the money, don't kid yourself - and when you are on a career trajectory to financial mediocrity well...
Last edited by EscapeArtist999 on November 6th, 2012, 11:00 pm, edited 1 time in total.
 
User avatar
ElysianEagle
Posts: 93
Joined: February 7th, 2012, 7:25 pm

Surveys for quant salary

November 7th, 2012, 3:41 pm

wow those numbers from quantnet really do look pretty low, especially considering that many of the submissions came from ppl. with PhDs or MFEs. respectable PhDs and MFEs don't come cheap, so frankly speaking i'd be pretty pissed if after all that hard work and money out of my pocket I was only making about 130 - 140K USD. i'm not saying that that is a low number in absolute terms, just that it's low considering these guys have an MFE or PhD.i know many pure developers at my iBank, those with just bachelor's degrees, making that much doing boring, mundane work. so i'm a wee bit skeptical of this survey's results. the quants i know do a good bit or programming, so given that they're offering the banks 2 skillsets (programming + financial expertise) i'm surprised the salaries aren't higher.
 
User avatar
mynetself
Posts: 187
Joined: March 27th, 2010, 6:40 pm

Surveys for quant salary

November 7th, 2012, 4:33 pm

QuoteOriginally posted by: katastrofaPostdoc salary: £30kLowest starting quant salary: £45-50k + bonusWorking hours are the same or lighter for quants. Come on.Higliht mine, and totally agree. Funny, I mentioned this to an MD when interviewing some time ago, and he was pretty surprised.MD: "Why work in a bank rather than academia?"Me: "[Blah, blah, blah] and not as long working days."MD, suspicious that my ignorance about the industry was even greater: "How much do you expect to work in iBank?"Me: "I don't know... 7:30/8:30 to 19:00/20:00..."MD, doesn't know what to think: "Right... What if your boss told you there's a client call late in the evening?"Me: "What's the problem? It's a one off, so it's not a problem. Even if it was a one-month off, not a problem. But if you told me I'd have to stay in the office every day till 22:00 or so for the next 5/7 yrs, like many postdocs do, I'd find myself another job."
 
User avatar
qqqqq
Posts: 63
Joined: September 10th, 2010, 1:58 pm

Surveys for quant salary

November 7th, 2012, 10:07 pm

QuoteOriginally posted by: ElysianEaglewow those numbers from quantnet really do look pretty low, especially considering that many of the submissions came from ppl. with PhDs or MFEs. respectable PhDs and MFEs don't come cheap, so frankly speaking i'd be pretty pissed if after all that hard work and money out of my pocket I was only making about 130 - 140K USD. i'm not saying that that is a low number in absolute terms, just that it's low considering these guys have an MFE or PhD.i know many pure developers at my iBank, those with just bachelor's degrees, making that much doing boring, mundane work. so i'm a wee bit skeptical of this survey's results. the quants i know do a good bit or programming, so given that they're offering the banks 2 skillsets (programming + financial expertise) i'm surprised the salaries aren't higher.This sounds kind of naive in the current market. There are not so many jobs for MFEs, and no one guarantees high salaries for them. If you look at MFE programs placement stats, the base salaries are at 80-90k. Then everything depends on your skills and your luck, not your MFE/PhD title.Maybe the mundane work your friends are doing is more in demand. Also, software engineers don't need PhDs, they need experience.
 
User avatar
capafan2
Posts: 924
Joined: June 20th, 2009, 11:26 am

Surveys for quant salary

November 7th, 2012, 10:57 pm

QuoteOriginally posted by: qqqqqQuoteOriginally posted by: ElysianEaglewow those numbers from quantnet really do look pretty low, especially considering that many of the submissions came from ppl. with PhDs or MFEs. respectable PhDs and MFEs don't come cheap, so frankly speaking i'd be pretty pissed if after all that hard work and money out of my pocket I was only making about 130 - 140K USD. i'm not saying that that is a low number in absolute terms, just that it's low considering these guys have an MFE or PhD.i know many pure developers at my iBank, those with just bachelor's degrees, making that much doing boring, mundane work. so i'm a wee bit skeptical of this survey's results. the quants i know do a good bit or programming, so given that they're offering the banks 2 skillsets (programming + financial expertise) i'm surprised the salaries aren't higher.This sounds kind of naive in the current market. There are not so many jobs for MFEs, and no one guarantees high salaries for them. If you look at MFE programs placement stats, the base salaries are at 80-90k. Then everything depends on your skills and your luck, not your MFE/PhD title.Maybe the mundane work your friends are doing is more in demand. Also, software engineers don't need PhDs, they need experience.Right! Traditionally mathematician jobs were always lower paid than programming jobs. Quant world changed that. But Quant is still 90% programming. And while programming changes all the time, quant world is sort of static in terms of basic skills needed. The notion that Quants deserve more money because they are not just IT programmers is just a spillover from good times. There are more quants available than IT programmers. Also as qqqq said IT programmers need experience and huge skill although it is not appreciated by people outside of IT hiring. And they have many more options than the financial industry and the wages are going up there.
ABOUT WILMOTT

PW by JB

Wilmott.com has been "Serving the Quantitative Finance Community" since 2001. Continued...


Twitter LinkedIn Instagram

JOBS BOARD

JOBS BOARD

Looking for a quant job, risk, algo trading,...? Browse jobs here...


GZIP: On