Quant Developer Salary

Its typically anywhere from £60,000 (low end) - £100,000+ (high end)

Thank you for the reply, would a Masters/PHD be needed for this role or would an undergrad in comp sci be enough?

It depends from employer to employer I would recommend to just do some research see if a masters is a common requirement or not and then make your decision based off that.

One thing you could do is apply after your undergraduate and if you don't get a job first time round you could then maybe consider doing a masters.

Its typically anywhere from £60,000 (low end) - £100,000+ (high end)

Hey Everyone,
Does anyone know the salary of quant developers in a hedge fund, considering you started as a software enginner in a bank or big tech company and moved over after a few years. I am starting A levels this year and are considering my career options, i know about all the hype and salary with IB but ruled it out after finding out about those long hrs and also the fact that i probably wont get into Oxbridge/lse/imperial/warick. I have searched online but i only see info on regular quant analysts and researcher which i have not desire to go into as im not the strongest in maths.
Any help or info would be greatly appreciated

quant devs at hedge funds earn way more than 60k, you'd expect a minimum of about 100-110k TC, and the high end is just under £200k. also, the working hours of quant devs isn't exactly normal, and you're going to find it a lot more difficult to get in if you're not at a top 5ish uni. most quants are from the top unis.

How about if you go the an average to good uni e.g. Loughborough and get a job as a software engineer in a bank or tech company and move over to a hedge fund as a quant developer when you have more experience because i know most hedge funds don't hire out of undergrad and you need experience

quant devs at hedge funds earn way more than 60k, you'd expect a minimum of about 100-110k TC, and the high end is just under £200k. also, the working hours of quant devs isn't exactly normal, and you're going to find it a lot more difficult to get in if you're not at a top 5ish uni. most quants are from the top unis.

That is after you are employed and start working your way up the ladder.
If you actually looked at jobs advertised like I have you would see that most for more inexperienced staff jobs are advertised anywhere from £60,000 (Low end) and £100,000 (High end)
In addition I think you have done very little research into this. My Uncle works as a quant developer and has told me that you can earn much more than £100,000 however that is AFTER you have at least 8 - 10 years experience and assuming that the hedge fund you work at is very big and you live in an expensive area like London (which not everyone does) then yes you can earn around £180,000 Not everyone gets to have that kind of salary as it is very rare and jobs in quant devolvement are very competitive so I would say that it is very unlikely that anyone would be earning that much who attempt to become a Quant developer.

Only people working in very expensive areas like London have the opportunity to earn closer to £200,000

Quant developer London: https://www.glassdoor.co.uk/Salaries/london-quant-developer-salary-SRCH_IL.0,6_IM1035_KO7,22.htm

Glass door proves what I say to be accurate:

Quant developer in general: https://www.glassdoor.co.uk/Salary/NatWest-Group-Quantitative-Developer-England-Salaries-EJI_IE10222.0,13_KO14,36_IL.37,44_IS7287.htm

You at least are correct that mostly people from top universities become a Quant developer.

Next time please do more research into something before you begin giving advise to people.

did you not realise OP was talking about hedge funds?
those glassdoors are average quant dev salaries, and the quant dev salary at natwest. last time I checked, natwest isn't a hedge fund!

second of all, I never claimed these salaries are normal for everyone, I only said you can expect 100k+ because that is the compensation junior quant devs get at most if not all hedge funds...

you're confusing "average" with "average for quant devs at hedge funds".

and btw, glassdoor is very inaccurate because there's no verification for peoples salaries, OP asked for hedge fund quant salaries and you send a glassdoor link of "average quant salaries", they are not the same thing.

if you want a site that has real verification for salaries, look at https://www.levels.fyi/Salaries/Software-Engineer/London/ , do some searching and you will find:

L1 at two sigma gets £131,000 total comp
L4 at two sigma gets £168,000 total comp
L4 at citadel gets £118,000 total comp
New grad at jane street gets £188,000 total comp
L1 software developer at jane street gets £195,000

these are very far from your guess which was 60k and pretty much exactly the same as my estimate earlier which was £100-110k minimum and up to 200k.
googling glassdoor and looking at random salaries for companies that arent even hedge funds doesn't exactly answer OPs question.

its a fact that quant devs at hedge funds do not get 60k, they on average get double that.
do you have any proof other than average glassdoor salaries from companies that arent actually hedge funds and for the whole of London?

First off. the website you use as "evidence" isnt even showing off quant developer job salaries they are showing off software engineer salaries.

Further more the two sigma hedge fund that you have stated starts at over £131,000 actually starts at around £80,000 which is much closer to my estimate of a first job.

Evidence:

https://www.google.com/search?rlz=1C1CHBF_enGB879GB879&ei=X84dYPmyMoui1fAPro-YuAE&q=two+sigma+jobs&oq=two+sigma+jobs&gs_lcp=CgZwc3ktYWIQAzIFCAAQkQIyAggAMgYIABAWEB4yBggAEBYQHjIGCAAQFhAeMgYIABAWEB4yBggAEBYQHjIJCAAQyQMQFhAeOgQIKRANOhAILhDHARCvARCwAxBDEJMCOgcIABCwAxBDOgcILhCwAxBDOgQIABBDOgoILhDHARCjAhBDOgIILkoFCBISATFQt9MIWNvYCGDn2QhoAXACeACAAW2IAa4DkgEDNS4xmAEAoAEBqgEHZ3dzLXdpesABAQ&sclient=psy-ab&uact=5&ibp=htl;jobs&sa=X&ved=2ahUKEwiPgr-27dPuAhWQXRUIHUF9C88QudcGKAJ6BAgKECg#htivrt=jobs&htidocid=iAOWeEPafi0aD4CiAAAAAA%3D%3D&fpstate=tldetail

This is an ACTUAL job which has been posted by two sigma which shows off the salary being from £80,000 to £160,000 so in a sense either of us could be correct however considering that the website you have showed above could have very few people actually signing up and sharing their data. The figures could be very inaccurate even if they do verify the people who share their data.
In addition to this do you know how they actually verify the data they receive? It seems suspicious that they fail to disclose how many people are involved with the data collection. This is especially since that it doesn't even specify "Quantitative developer" it specifies Software engineering which could be perceived as a similar job title but can also make the results very inaccurate. This is especially since the results also take into account salaries from businesses that aren't a hedge fund. For example Amazon.

The thing that makes it very confusing to estimate exactly how much people make at hedge funds is the fact that they basically have different terms for the role "quant developer"

One example:

https://www.cwjobs.co.uk/job/java-developer/harrington-starr-job91790207?WT.mc_id=A_RE_JLUPPC_MP1_C11_18_CW

The link above clearly shows that the hedge fund is offering a salary between £60,000 (low end) and NEARLY £100,000 (high end). However the hedge fund has renamed the role of "quant developer" to Java developer which may again make the results in your link you used the "levels,fyi" website unreliable. This is because the companies may have different terminology and names for roles which are essentially quant developers just in a different way which can make your websites results even more unreliable.

I think that you may have been selecting hedge funds in your statement above which are much bigger and much more competitive to get into without considering hedge funds which may be smaller and pay much less then "£131,000" as the website claims which I showed, may have been inaccurate before.

I want to go back to what I said before which was that on the VERY LOW end was £60,000 this is the absolute smallest salary which I have personally seen as I showed you above and I said that anything above £100,000 I would consider to be on the higher end of the quant developer salary. This is including majority of the jobs that I have seen during my research into this field as I myself was once interested in this. It is very easy to cherry pick some of the biggest employers in the most expensive area to live in the entire UK.

I feel that my research consisted of looking at individual job offering more than just looking at a random website which verifies a very few number of peoples salaries. I can agree that glassdoor could potentially be unreliable as it is easy to lie about the salary but there wouldn't be much point in people doing that as they gain nothing and glassdoor also shows the amount of people involved in the data.

I understand your point of view and I am sure that you think that you are correct but as shown above it is very easy to be misinformed especially by external sources/ 3rd party resources and I hope that you can understand that a more reliable source of information is going to the job pages directly to see exactly what businesses and companies are offering.

Finally I agree that it is 100% possible to make well over the amount of money then I said but I want to stress the fact that the field is very competitive and I was trying to give a more realistic idea of what he would potentially be earning as it can take a lot of time and years before someone can start making larger amounts of money. I feel being realistic is much better especially when it comes to giving someone career advice.

seriously you need to learn to research properly, you are literally using google estimates as your source.... instead of actual employees at two sigma.
if you even read what I said, I said total comp is above 100k, not salary. i literally showed you data from actual employees and your evidence against it is some random google estimate that has no reliable data. its crazy to think you cant realise that yet, I know quant devs at these firms and they do indeed take over 100k a year minimum but your google estimates and glassdoor estimates are surely more reliable....


since your so obsessed on using google and glassdoor as your inacurrate salary estimates, here's another job posting by two sigma for the same job but is an internship and it is £90k
https://www.google.com/search?rlz=1C1CHBF_enGB879GB879&ei=X84dYPmyMoui1fAPro-YuAE&q=two+sigma+jobs&oq=two+sigma+jobs&gs_lcp=CgZwc3ktYWIQAzIFCAAQkQIyAggAMgYIABAWEB4yBggAEBYQHjIGCAAQFhAeMgYIABAWEB4yBggAEBYQHjIJCAAQyQMQFhAeOgQIKRANOhAILhDHARCvARCwAxBDEJMCOgcIABCwAxBDOgcILhCwAxBDOgQIABBDOgoILhDHARCjAhBDOgIILkoFCBISATFQt9MIWNvYCGDn2QhoAXACeACAAW2IAa4DkgEDNS4xmAEAoAEBqgEHZ3dzLXdpesABAQ&sclient=psy-ab&uact=5&ibp=htl;jobs&sa=X&ved=2ahUKEwiPgr-27dPuAhWQXRUIHUF9C88QudcGKAJ6BAgKECg#htivrt=jobs&htidocid=FU86fKw38h9utp1qAAAAAA%3D%3D&fpstate=tldetail
if the internship is 90k do you really think the grad job is going to be less than £100k?

and duuuuuh not many people sign up and give info on levels because its a rare job and not many people work as a quant dev at a hedge fund..... its pretty obvious

They also include quant devs as software engineers on levels and at a lot of firms, they are often called "quantitative software engineers"

I'm not going to do your basic research for you about levels, if you want to learn how levels verifies its data, google it. and why you think its inaccurate because it has data from other companies too doesn't make any sense.

that link is a java developer, not a quant developer..... just because it suits your salary range doesn't mean its been renamed.

and you still didn't read OPs questions, I'm not talking about quant dev salaries, I'm talking about hedge fund quant dev salaries. why do you keep talking about average quant dev salaries and how the majority of jobs arent 100k? what does that have to do with quant dev salaries at hedge funds? they are quite clearly not average jobs with average salaries.

no one is arguing that its not competitive or difficult to get into those jobs... OP simply asked for how much do hedge fund quants make and you started going off about natwest and average salaries in London, literally has nothing to do with OPs question.

Since you seem to ignore all the evidence that I am showing you and clearly ignore the fact that the sources you have used are unreliable and that I did state that glassdoor "could" also be unreliable and I showed data from a "variety" of sources

Source 1:

https://www.google.com/search?rlz=1C...state=tldetail

Source 2:

https://www.cwjobs.co.uk/job/java-de..._MP1_C11_18_CW

You clearly didn't read what I said properly and you are repeating a pattern of critiquing the same thing over and over which is "glassdoor" and I mentioned that it could be unreliable as well as yours.

I then said that hedge funds seem to have different job titles for essentially the same job which could also make it unreliable as well as a small amount of data taken from the sources we used as the job is very rare. Your response to this was:
"duuuuuh not many people sign up and give info on levels" which just further proves my point, and the use of "duuuuh" just accentuates your rudeness and my point as you just agreed that your source isn't reliable.

I did read OP question and if you read what I said before (which you clearly did not) you would have read

" VERY LOW end was £60,000 this is the absolute smallest salary which I have personally seen" which I then showed you with this source:

https://www.cwjobs.co.uk/job/java-de..._MP1_C11_18_CW

This is something that you asked me to show you in the very first reply you made to my comment

"do you have any proof other than average glassdoor salaries from companies that arent actually hedge funds"

Nobody asked for information from a random unreliable website which doesn't disclose exactly how many people are involved in the data research.

Glassdoor does this and that's one of the advantages of this.

As you did not read one of my other paragraphs stating that you maybe be selecting bigger companies who pay more allow me to copy and paste that here:

"I think that you may have been selecting hedge funds in your statement above which are much bigger and much more competitive to get into without considering hedge funds which may be smaller and pay much less then "£131,000" as the website claims which I showed, may have been inaccurate before."

The truth is if you are looking at the biggest employers LOCATED IN LONDON the most EXPENSIVE area in the UK then of course you may be able to earn more then what I said. My statement was thinking in a very general sense of hedge funds around the ENTIRE country.

The thing you are failing to consider is other hedge funds not just in LONDON.

Essentially you used one source for your entire argument and when I began looking into a variety of different resources including actual jobs which are being advertised you told me I'm wrong.

To address the Natwest comment I made early that was wrong. However when I showed you a source from a hedge fund which proved I was right you said I was wrong.

Another thing you said my source was wrong. Specifically the java developer job advertisement which I disagree with.
Definition of a quant developer: A quantitative developer is a computer programmer and software engineer who writes code and develops trading infrastructure for investment banks. THIS CAN BE DONE IN JAVA. as Java is a (which you are clearly unfamiliar with) is a coding language which software engineers use and as you stated before:
"They also include quant devs as software engineers on levels and at a lot of firms, they are often called "quantitative software engineers""
This quote above highlights that the java developer source is valid and reliable.

I think you need to diversify the sources you are using and not base your entire argument on one website in one specific area of the UK.

Next time please learn to consider more then just ONE AREA of the UK and ONE SOURCE on the internet. It doesn't help your credibility.

Due to the constant back and fourth nature which is going on here I think that this will be my final statement as you don't seem to be able to:

1. Consider other locations in the UK apart from London
2. Use more then 1 source for information
3. Provide/explain why the source you are using is reliable despite the fact that it doesn't disclose how many people are involved in the data you showed.
4. Not reading/ understand what I am saying (which to be honest isn't that hard to do)
5. Acknowledge and validate sources from real job advertisements which I have used like the job I showed in CW jobs.

What do you think is the best degree for this? computer science, financial maths or financial com