Role guide · updated October 22, 2026

Quant Researcher salary: base pay, bonus and career progression

Quantitative researchers are paid to turn data and models into better investment or trading decisions. Salary depends on the research mandate, location and experience; a PhD graduate role and an established alpha-research position should be compared separately.

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Starting salary and graduate offers

IMC’s 2027 BS/MS research intake in Chicago lists $250,000 base. HRT’s 2027 algorithm-development intake lists $300,000 for the US. Citadel and Citadel Securities each publish $235,000–$300,000 for their US PhD graduate researcher roles. Degree requirements and research responsibilities differ across these examples.

Published annual base pay · USD · bonus excluded

Citadel Securities · Quantitative Researcher — PhD Graduate (US)$235,000–$300,000 / year

United States; see posting · PhD graduate · Source

Citadel · Quantitative Researcher — PhD Graduate (US)$235,000–$300,000 / year

United States; see posting · PhD graduate · 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

Flow Traders · PhD Graduate Quantitative Researcher$175,000 / year

New York · PhD graduate research · Source

Old Mission · Junior Quantitative Researcher (Ph.D.)$175,000–$250,000 / year

Chicago · Junior PhD researcher; derivatives pricing · Source

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

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

Quant Researcher pay by firm and level

RoleFirmCareer stage

24 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 Researcher	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
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
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
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 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
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
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
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 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
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
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
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
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
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

Internship pay: 4 employer disclosures

Internships cover a different work period from full-time roles. Compare the stated rate with the paid duration using the internship salary guide.

4 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
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
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
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

What the role involves

Researchers develop signals, test hypotheses, estimate risk and study execution. Short-horizon trading work places more weight on market microstructure and implementation; investment research may emphasize portfolio construction, economic intuition and longer time series.

Experienced and senior compensation

For an experienced researcher, evaluate data access, compute, research ownership, deployment responsibility and the connection between research results and compensation. Ask whether the role supports a portfolio manager, owns a strategy, or develops shared research infrastructure.

How to prepare for this career

Be ready to defend a research project end to end: the hypothesis, data cleaning, baselines, validation, transaction costs and failure cases. Strengthen statistics, probability, linear algebra, Python and the ability to explain why an apparent result could be misleading.

Start with the free quant diagnostic, then use the four-week interview study plan to turn gaps into specific practice. For a short placement, use the internship pay guide to compare annualized rates with program earnings.

Prepare for the Roles You Are Targeting

Book a free quant consult to discuss the roles you are targeting and the preparation they require. Explore how technical training, interview practice and mentorship can support your next move.

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Your goals · your preparation · your next steps

Compare individual employers

IMC salary Hudson River Trading salary Two Sigma salary Citadel salary PDT Partners salary

Salary questions, answered

What is a starting quant researcher salary?

How do base salary and total compensation differ?

Base salary is the fixed recurring amount. Total compensation may also include signing payments, guaranteed bonuses and discretionary performance pay. Check payment timing, deferral and repayment conditions, and compare the first year separately from later years.

How does experience affect compensation?

What should I study for a quant researcher role?

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