Hedge fund Point72 paying $300k salaries to quant teachers
Hedge funds pay big salaries to top quants. This is nothing new. However, when quants achieve these big compensation packages, it's usually because they have a direct impact on PnL. Steven Cohen's hedge fund, Point72, is hiring for a different kind of quant - a teacher to educate its up and coming graduate trainees... and it's paying them very well.
The role in question is a Point72 Academy Alternative Data Specialist based in New York within Point72's Investment Professional Development (IPD) team. While most engineering roles in New York have wide salary ranges to accommodate a variety of experience, the salary range for this role is a flat $300k, showing exactly how much the hedge fund values the position. For reference, the maximum salary for their general quantitative researcher listing is only ("only") $200k.
The job description says the quant teacher will "create, curate and teach compliance approved data curriculum" while becoming "the go-to tech resource for data and application-related questions on the IPD team." The education and experience requirements are not particularly demanding, however: a mere undergraduate degree and five years working in SQL and Python or R are among the requirements.
The IPD scheme has evidently been successful for the fund. It states that over 140 graduates have earned analyst positions through it; 60% of scheme graduates are still working for the firm today.
IPD isn't Point72's only quant trading program. It just announced a partnership with Cubist Systematic Strategies to launch its Quant Academy. It described this as "a rotational program" in which graduates will be "learning about all aspects of the quant research life cycle."
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