Quant compensation guide · source review dates beside each figure

Quant salaries: pay by firm, role and experience

How much can you earn as a quant trader, researcher or developer? Start with real role-level pay: Flow Traders lists $175,000 base for New York graduate traders, IMC lists $250,000 for Chicago graduate researchers, and HRT lists $300,000 for its US graduate algorithm-development intake. Bonuses sit on top of those base figures.

28 firms

Salary guides with role and offer context

49 disclosures

Employer sources linked beside the figures

15 graduate examples

Graduate, experienced and internship pay separated

New-grad quant salaries

These selected US roles show why candidates should compare a specific intake, degree requirement and office. The solid segment shows a published range; a single mark shows a fixed base. Bonuses are additional and are not estimated in the chart.

Published annual base pay · USD · bonus excluded

Five Rings · Campus Full Time 2027 - Quantitative Trader$300,000 / year

New York · 2027 campus full-time intake · Source

Hudson River Trading · Algorithm Developer (Quant Research & Trading) – 2027 Grads$300,000 / year

New York; US base only (posting also covers London / Singapore) · US base only; 2027 bachelor’s/master’s graduates · Source

IMC · Graduate Quantitative Researcher (BS/MS)$250,000 / year

Chicago · BS/MS; February or August 2027 start · Source

Tower Research · Quantitative Trader/Researcher - 2027$150,000–$250,000 / year

New York / Chicago · 2027 intake; 0–2 years of experience · Source

Flow Traders · Graduate Quantitative Trader$175,000 / year

New York · Graduate quantitative trader · Source

Quant salary data by company and role

Filter by firm, job family and career stage. The role title and location stay attached to every number. “From” means the employer published a minimum, not a complete pay band.

RoleFirmCareer stage

49 employer disclosures · USD · base pay, not total compensation

Published employer base salaries with source links, scope, and review dates
Firm / role	Location / scope	Published base pay	Bonus / source
Jane Street Quantitative Trader	New York Multiple levels · See role requirements	$300,000 / year	Annual discretionary bonus; amount not disclosed. Employer posting Disclosure reviewed 2026-10-22
Jane Street Quantitative Researcher	New York Multiple levels · See role requirements	$300,000 / year	Annual discretionary bonus; amount not disclosed. Employer posting Disclosure reviewed 2026-10-22
Jane Street Software Engineer	New York Multiple levels · See role requirements	$300,000 / year	Annual discretionary bonus; amount not disclosed. Employer posting Disclosure reviewed 2026-10-22
Citadel Securities Quantitative Researcher — PhD Graduate (US)	United States; see posting Graduate · PhD graduate	$235,000–$300,000 / year	Discretionary incentive compensation; amount not disclosed. Employer posting Disclosure reviewed 2026-09-28
Citadel Quantitative Researcher — PhD Graduate (US)	United States; see posting Graduate · PhD graduate	$235,000–$300,000 / year	Discretionary incentive compensation; amount not disclosed. Employer posting Disclosure reviewed 2026-09-28
Citadel Quantitative Researcher — Post-Doctoral Intern (US)	United States; see posting Internship · Postdoctoral internship	$4,500–$5,800 / week	Not included in this published base range. Employer posting Disclosure reviewed 2026-09-28
Optiver Quantitative Trader/Researcher — Systematic Options Trading	Chicago Experienced · Experienced	$200,000 / year	Discretionary bonus; amount not disclosed. Employer posting Disclosure reviewed 2026-09-28
Optiver Quantitative Researcher — SVT	Chicago Experienced · Experienced; 4–5+ years requested	$200,000 / year	Discretionary bonus; amount not disclosed. Employer posting Disclosure reviewed 2026-09-28
D. E. Shaw Group Quantitative Analyst	New York Graduate · Bachelor/master: $275k; PhD/comparable experience: $300k	$275,000–$300,000 / year	Posting describes year-end, sign-on and relocation bonuses; amounts not disclosed. Employer posting Disclosure reviewed 2026-09-28
D. E. Shaw Group Quantitative Analyst Intern — Summer 2027	New York Internship · Internship	$25,000 / month	Posting separately lists a $25,000 sign-on bonus and other support; review the source for conditions. Employer posting Disclosure reviewed 2026-09-28
Hudson River Trading Algorithm Developer (Quant Research & Trading) – 2027 Grads	New York; US base only (posting also covers London / Singapore) Graduate · US base only; 2027 bachelor’s/master’s graduates	$300,000 / year	Sign-on bonus and discretionary performance bonus; amounts not disclosed. Employer posting Disclosure reviewed 2026-10-22
Hudson River Trading Junior Treasury Quant Researcher	New York Experienced · Treasury research; see role requirements	$150,000–$200,000 / year	Discretionary performance-based bonus; amount not disclosed. Employer posting Disclosure reviewed 2026-10-22
Jump Trading Campus Quantitative Researcher \| Trading Team PhD/Postdoc (Full-Time)	New York Graduate · PhD/postdoctoral campus hire	$200,000–$250,000 / year	Bonus is separate from the published base; see the employer’s terms. Original posting URL Historical disclosure · no longer listed when checked 2026-10-22 Pay recorded 2026-10-11. The original page may no longer show the role.
Jump Trading Derivatives Quantitative Researcher \| Trading Team	London / New York; USD disclosure Experienced · Derivatives research; US pay disclosure	$200,000–$300,000 / year	Discretionary bonus eligibility; amount not disclosed. Employer posting Disclosure reviewed 2026-10-22
Jump Trading Software Engineer	New York / Chicago Experienced · See engineering requirements	$200,000–$250,000 / year	Bonus is separate from the published base; see the employer’s terms. Original posting URL Historical disclosure · no longer listed when checked 2026-10-22 Pay recorded 2026-10-11. The original page may no longer show the role.
IMC Graduate Quantitative Researcher (BS/MS)	Chicago Graduate · BS/MS; February or August 2027 start	$250,000 / year	Bonus is separate from the published base; see the employer’s terms. Employer posting Disclosure reviewed 2026-10-11
IMC Graduate Software Engineer	Chicago Graduate · 2027 graduate intake	$200,000 / year	Bonus is separate from the published base; see the employer’s terms. Employer posting Disclosure reviewed 2026-10-11
IMC Quantitative Researcher – Futures	Chicago Experienced · Futures research; 5+ years requested	$250,000–$300,000 / year	Bonus is separate from the published base; see the employer’s terms. Employer posting Disclosure reviewed 2026-10-11
Five Rings Campus Full Time 2027 - Quantitative Trader	New York Graduate · 2027 campus full-time intake	$300,000 / year	Bonus is separate from the published base; see the employer’s terms. Employer posting Disclosure reviewed 2026-10-11
PDT Partners Quantitative Researcher	New York Multiple levels · Placement depends on research background	$190,000–$250,000 / year	Bonus is separate from the published base; see the employer’s terms. Employer posting Disclosure reviewed 2026-10-11
DRW Quantitative Researcher	New York Experienced · See research requirements	$200,000–$300,000 / year	Bonus is separate from the published base; see the employer’s terms. Employer posting Disclosure reviewed 2026-10-11
DRW Quantitative Developer	New York Experienced · Quantitative development	$175,000–$250,000 / year	Bonus is separate from the published base; see the employer’s terms. Employer posting Disclosure reviewed 2026-10-11
Point72/Cubist Quantitative Researcher - Systematic Credit	Chicago / New York Experienced · Systematic credit; 2+ years requested	$150,000–$200,000 / year	Bonus is separate from the published base; see the employer’s terms. Employer posting Disclosure reviewed 2026-10-11
Point72/Cubist Quant Library Developer, Macro Technology	United States Experienced · Macro technology; quantitative library work	$200,000–$300,000 / year	Bonus is separate from the published base; see the employer’s terms. Employer posting Disclosure reviewed 2026-10-11
Schonfeld Principal Software Engineer	New York Experienced · Principal software engineer	$275,000–$300,000 / year	Bonus is separate from the published base; see the employer’s terms. Employer posting Disclosure reviewed 2026-10-11
Schonfeld Senior Quantitative Data Engineer	New York Experienced · Quantitative data engineering; 7+ years requested	$200,000–$220,000 / year	Bonus is separate from the published base; see the employer’s terms. Employer posting Disclosure reviewed 2026-10-11
Squarepoint Junior Quant Researcher	New York Graduate · Published minimum, not a salary ceiling; New York only	From $150,000 / year	Bonus is separate from the published base; see the employer’s terms. Employer posting Disclosure reviewed 2026-10-11
Flow Traders Graduate Quantitative Trader	New York Graduate · Graduate quantitative trader	$175,000 / year	Bonus is separate from the published base; see the employer’s terms. Employer posting Disclosure reviewed 2026-10-11
Flow Traders PhD Graduate Quantitative Researcher	New York Graduate · PhD graduate research	$175,000 / year	Bonus is separate from the published base; see the employer’s terms. Employer posting Disclosure reviewed 2026-10-11
Flow Traders Experienced Quantitative Researcher	New York Experienced · Experienced quantitative research	$200,000–$225,000 / year	Bonus is separate from the published base; see the employer’s terms. Employer posting Disclosure reviewed 2026-10-11
Old Mission Junior Quantitative Researcher (Ph.D.)	Chicago Graduate · Junior PhD researcher; derivatives pricing	$175,000–$250,000 / year	Bonus is separate from the published base; see the employer’s terms. Employer posting Disclosure reviewed 2026-10-11
Old Mission Junior Quantitative Trader (Asian Market Hours)	Chicago Experienced · Junior trader; Asian market hours	$125,000–$150,000 / year	Bonus is separate from the published base; see the employer’s terms. Employer posting Disclosure reviewed 2026-10-11
Akuna Capital Junior Quantitative Researcher	Chicago Graduate · Published minimum, not a salary ceiling; junior research	From $145,000 / year	Bonus is separate from the published base; see the employer’s terms. Employer posting Disclosure reviewed 2026-10-11
Akuna Capital Junior Quantitative Developer & Strategist	Chicago Graduate · Published minimum, not a salary ceiling; junior role	From $145,000 / year	Bonus is separate from the published base; see the employer’s terms. Employer posting Disclosure reviewed 2026-10-11
Tower Research Quantitative Trader/Researcher - 2027	New York / Chicago Graduate · 2027 intake; 0–2 years of experience	$150,000–$250,000 / year	Bonus is separate from the published base; see the employer’s terms. Employer posting Disclosure reviewed 2026-10-11
Tower Research Quantitative Trader/Researcher Intern - Summer 2027	New York / Chicago Internship · Summer 2027; weekly rate	$3,500–$5,700 / week	Bonus is separate from the published base; see the employer’s terms. Employer posting Disclosure reviewed 2026-10-11
WorldQuant Experienced Quantitative Strategist	United States Experienced · Quantitative strategy; see posting for office scope	$150,000–$200,000 / year	Bonus is separate from the published base; see the employer’s terms. Employer posting Disclosure reviewed 2026-10-11
WorldQuant Quantitative Developer	New York Experienced · Published range applies to New York	$125,000–$175,000 / year	Bonus is separate from the published base; see the employer’s terms. Employer posting Disclosure reviewed 2026-10-11
AQR Capital Management Quantitative Research – Prediction Markets Analyst	Greenwich, Connecticut Experienced · Prediction markets research analyst	$200,000–$230,000 / year	Bonus is separate from the published base; see the employer’s terms. Employer posting Disclosure reviewed 2026-10-11
SIG Quantitative Systematic Trader – Master’s: 2027	New York Graduate · Master’s graduate intake; June 2027 start	$300,000 / year	Base pay excludes bonus; confirm the variable-pay terms with the employer. Employer posting Disclosure reviewed 2026-10-11
Two Sigma Quantitative Researcher: Machine Learning	New York Multiple levels · Placement depends on qualifications and experience	$165,000–$325,000 / year	Base pay excludes bonus; confirm the variable-pay terms with the employer. Employer posting Disclosure reviewed 2026-10-11
Arrowstreet Capital Quantitative Researcher	Boston Multiple levels · Campus careers posting; range depends on candidate	$155,000–$260,000 / year	Base pay excludes bonus; confirm the variable-pay terms with the employer. Employer posting Disclosure reviewed 2026-10-11
Arrowstreet Capital Senior Quantitative Researcher	Boston Experienced · Senior research position	$170,000–$325,000 / year	Base pay excludes bonus; confirm the variable-pay terms with the employer. Employer posting Disclosure reviewed 2026-10-11
Wolverine Trading Quantitative Trader – High Frequency Futures	Chicago Experienced · Pay contingent on experience	$150,000–$200,000 / year	Base pay excludes bonus; confirm the variable-pay terms with the employer. Employer posting Disclosure reviewed 2026-10-11
Wolverine Trading Electronic Options Trader	Chicago Experienced · Experienced electronic options trader	$100,000–$150,000 / year	Base pay excludes bonus; confirm the variable-pay terms with the employer. Employer posting Disclosure reviewed 2026-10-11
Jump Trading Campus Quantitative Researcher, UG/MS (Intern)	Chicago / New York Internship · Undergraduate/master’s internship; 10 weeks	$300,000 / year Annualized rate, not the amount paid for the internship. Compare program pay.	Annualized internship base rate; not total program earnings. No bonus amount disclosed. Employer posting Disclosure reviewed 2026-10-22
Jump Trading Campus Quantitative Researcher, PhD (Intern)	Chicago / New York Internship · Currently enrolled PhD students; 10 weeks	$300,000 / year Annualized rate, not the amount paid for the internship. Compare program pay.	Annualized internship base rate; not total program earnings. No bonus amount disclosed. Employer posting Disclosure reviewed 2026-10-22
Jump Trading Campus Quantitative Trader (Intern)	Chicago / New York Internship · Campus internship; 10 weeks	$300,000 / year Annualized rate, not the amount paid for the internship. Compare program pay.	Annualized internship base rate; not total program earnings. No bonus amount disclosed. Employer posting Disclosure reviewed 2026-10-22
Jump Trading Campus Software Engineer (Intern)	Chicago Internship · Software engineering internship; 10 weeks	$250,000 / year Annualized rate, not the amount paid for the internship. Compare program pay.	Annualized internship base rate; not total program earnings. No bonus amount disclosed. Employer posting Disclosure reviewed 2026-10-22

Trader, researcher or developer?

Quant trader salary

Pricing, execution and risk. Compare the desk, market hours and how trading contribution affects bonus.

Quant researcher salary

Signals, models and investment decisions. Match the research mandate, degree requirements and ownership.

Quant developer salary

Trading systems and research software. Compare level, technical scope and proximity to research or trading.

Base salary vs. total compensation

Your first-year cash can contain four different pieces: base salary, a signing payment, a guaranteed bonus and a discretionary bonus. The first three can be known from an offer. The last depends on the terms and performance. Signing money may come with repayment conditions and usually does not repeat.

Worked offer example

Suppose an offer has $200,000 base, a $50,000 signing payment and a $50,000 guaranteed first-year bonus. Guaranteed first-year cash is $300,000. An additional $75,000 discretionary bonus would make a $375,000 scenario, not a $375,000 guarantee. In year two, remove the one-time signing payment and check whether the guarantee still applies.

Break down your own offer

What changes as you get more experienced?

Experience changes the role as well as the pay. A researcher who owns a strategy, an engineer responsible for a critical platform and a new graduate learning a desk have different responsibilities. Compare ownership, team resources, performance measurement, location and guaranteed cash before comparing headline packages.

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Your goals · your preparation · your next steps

Salary guides for 28 quant firms

Each guide combines pay evidence, role differences, offer questions and preparation priorities. External estimates and historical figures are labeled separately from employer disclosures.

Salary questions, answered

How much do quants make?

Selected US graduate disclosures in this guide include $175,000 base for Flow Traders quantitative traders, $250,000 for IMC researchers and $300,000 for HRT algorithm developers and Five Rings traders. These examples describe particular offices and recruiting tracks. Total pay also depends on bonuses, and the examples are not an industry-wide average.

What is the average quant salary?

A defensible average needs a defined role, location, experience level and representative sample. Public job postings instead show hiring ranges for particular roles. Use the table to compare equivalent positions; averaging a senior researcher, a graduate trader and an annualized internship would produce a misleading benchmark.

Can a quant earn $500,000 or more?

A package can reach that level through base salary plus signing and performance payments, but the base disclosures here do not establish how common it is. For an actual offer, add the written guaranteed amounts first and model any discretionary bonus separately. A $300,000 base does not establish a $500,000 package.

Which quant firms pay the most?

Among the examples here, Jane Street’s New York postings, HRT’s US graduate algorithm-development role, Five Rings’ New York graduate trader role and SIG’s New York master’s systematic-trader role each publish $300,000 base. This is a comparison of selected base disclosures, not a ranking of total compensation across every firm or level.

How much do quant interns earn?

Tower’s summer 2027 trader/researcher internship lists $3,500–$5,700 per week. Citadel’s postdoctoral research internship lists $4,500–$5,800 per week. D. E. Shaw’s summer 2027 analyst internship lists $25,000 per month and a separate signing payment. Degree requirements, duration and support differ; preserve the original pay period when comparing them.

Does a PhD automatically mean a higher salary?

No. Some postings distinguish education explicitly: D. E. Shaw’s analyst disclosure lists $275,000 for bachelor’s/master’s candidates and $300,000 for PhD or comparable backgrounds. Other firms use the same posted base for multiple education tracks. Compare the actual role and offer rather than assuming a fixed PhD premium.

How to read these salary figures

A posting is one observation

Each row links to an employer disclosure and identifies the role, location, pay period and review date. A posted range is not a measured average of employee earnings, an accepted offer, or a hiring guarantee.

Keep base and bonus separate

Base pay excludes discretionary bonuses unless the source explicitly says otherwise. We do not estimate an undisclosed bonus or turn a base range into a total-compensation claim.

Match the role and pay period

Compare the same location, experience requirements and work period. Internship rates remain in their original units. An annualized rate is not the summer paycheck: use the paid duration to estimate program earnings. See the internship pay examples.

Check the original source

Each disclosure has its own review date. When a later check finds a role is no longer listed, we keep its historical pay with that status beside it and exclude it from the summary ranges and charts. A review date is not a promise the job remains open. This is a selected set of postings, not a representative salary survey.

Separate the guaranteed and variable parts of your offer