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The truth about data science salaries in hedge funds

Much of the excitement about technology jobs at hedge funds goes to their quantitative developers and researchers. Data scientists, data engineering and data analysis jobs don't always get the same visibility but they too are capable of commanding hefty pay packages. 

The major hedge funds have all been hiring data scientists at different rates, but which ones have hired the most and which provide the biggest salaries? Data filed with the US government for H1B visa hires offers an explanation.

H1B visa data suggests that the biggest spender of all on data staff is Point72. The hedge fund recruited 12 data science professionals in 2022 and paid an average base salary of $141.1k. Citadel hired less but paid its data staff the most, with two of its four data science hires earning a base salary of $200k.

Millennium hired the most data staff of all, but was less generous by comparison. This might be because its hiring was skewed towards comparatively poorly paid data engineers, who earned less than $100k. But Millennium's highest paid H1B data scientist earned $128k last year, which was still well below most other averages.

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author-card-avatar
AUTHORAlex McMurray Editor
  • Co
    Comfy
    2 September 2021

    Well the Citadel and Point 72 data scientists will be out of a job eventually the way they've been rampantly shorting companies a la GameStop and AMC.... Liquidation beckons when they have to close their positions...

  • hf
    hf'er
    1 September 2021

    Most of the salaries quoted on this site are pure BS and click bait. The only people getting paid 500k+ on the buy-side are those on a P&L formula, everyone else is just support.

  • sa
    sa1
    22 November 2019

    The question should be is the sample set (limited to H1B visas) representative of the entire group? Given such employee mobility restrictions, employers may have more leverage in compensation negotiations than otherwise.

  • di
    disqus_Vg1MeSy1S1
    22 November 2019

    Are "quantitative researchers" essentially the same?

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