Quant Salary with 2-year experience

malsy · June 12th, 2006, 3:09 pm

I am a 2-yr exp. quant (with a Ph.D. in fin. math) for interest rate derivatives and just got an associate offer from a bulge bracket firm. The position is based in HK. Generally speaking, what is the usual total compensation with this background? Also, what is the usual timeframe to get promotion to VP level?

BunnyLe · June 12th, 2006, 4:31 pm

What level were you at when you joined the bank two years ago? Most of the banks will offer entry-level PhD quants Associate position (Other than GS, at analyst level). If you are already at Associate level, why not stay here for 1 or 2 more years to get promoted to VP then move to HK?If you are at Analyst level, it is worth going, probably.

malsy · June 13th, 2006, 1:04 am

Thanks for your reply, Bunny. I am working as a desk quant on IRD over the past 2 years, right after graduation. To be honest, I don't get much involved in model development. The position is quantitative researcher (different from IB title). I would say this is equivalent to associate level. Anyone has any idea about the quant salary in Asia Pacific? Is the offer attractive enough to move to HK? Normal speaking, How long does it usually take to get promoted to VP from associate at the bulge bracket firm? Thanks in advance.

mutley · June 13th, 2006, 5:48 am

when you compare salaries between HK & LDN/NYC - remember that HK has 9% flat income tax [correct me if it's changed someone!].

malsy · June 13th, 2006, 7:33 am

I had checked that the flat income tax rate in HK is 16%. However, I am a US citizen. I still need to pay the difference to the US government. So no advantage at all!