Quant compensation is the most-searched and worst-reported topic in the field: headline numbers mix base with bonus, new-grad with senior, and elite shops with the long tail. Below are the ranges consistently visible in candidate-reported offers as of mid-2026 — read them as calibrated ranges, not quotes.
New-grad total compensation (US/UK, annualized)
| Tier | Examples of tier | QT / QR total comp | Quant dev total comp |
|---|---|---|---|
| Elite prop/HFT & top funds | The household HFT names and top multi-strats | $300k–$450k+ (outliers above) | $250k–$400k |
| Strong mid-tier | Established prop shops, large funds | $200k–$300k | $180k–$280k |
| Banks & asset managers | Sell-side strats, traditional AM | $140k–$220k | $130k–$200k |
Structure matters: offers split into base (commonly $125k–$200k), sign-on, and a first-year bonus that is often guaranteed — after year one, the bonus floats with performance and the ranges widen drastically.
Internships
Elite-tier quant internships commonly pay $100–$150/hour (some with housing), i.e. $20k–$35k for a summer — itself a reason the pipelines are so competitive.
Senior compensation: attribution is everything
Past ~3–5 years, comp decouples from tables: traders and PMs move to a share of book PnL (seven figures in good years at good seats, sharply variable), researchers to formula- or discretion-based shares of shipped-signal value, devs to senior-eng ladders ($400k–$800k+ at elite shops). The variance ACROSS seats dwarfs the difference between role titles — seat quality is the real compensation variable.
The caveats every headline hides
- Survivorship: reported numbers skew to accepted offers at famous firms.
- Attrition: elite seats have real washout; expected value ≠ advertised value.
- Geography: London commonly runs 10–25% below equivalent US seats; Amsterdam/Singapore/HK vary by firm.
- Year effects: good/bad firm years move bonuses materially; 2026 ranges reflect a strong period for prop trading.
The pay explains the interview bar. If these numbers are the goal, the path runs through the firm funnels and the prep guide — one offer at the elite tier repays the preparation hundreds of times over.
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Frequently asked questions
How much do quants make out of college?
At elite prop shops and top funds, new-grad total compensation is commonly reported at $300k–$450k+ (trader/researcher) with base around $125k–$200k plus sign-on and a often-guaranteed first bonus. Mid-tier firms commonly land $200k–$300k; banks $140k–$220k.
How much do quant interns make?
Elite-tier internships commonly pay $100–$150 per hour, often with housing — roughly $20k–$35k for a summer.
Do quant researchers or traders earn more long-term?
Senior pay tracks attribution, not title: traders/PMs share book PnL (high variance, seven figures possible), researchers share shipped-signal value (steadier). Seat quality drives more variance than the role choice.
Are quant salaries higher in the US or London?
Equivalent seats commonly pay 10–25% less in London than the US, with Amsterdam, Singapore, and Hong Kong varying by firm. The elite-tier gap narrows at the most competitive shops.
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