April 22, 2024 12:00 am
Earnings in Banks, Fintechs, and Hedge Funds: A Comprehensive Overview

When it comes to high-paying data science roles in financial services, the competition is fierce. While hedge funds and trading firms are typically the top places to work, banks and fintech companies also offer substantial salaries for top data scientists. In fact, a new compensation report from recruitment firm Selby Jennings provides insights into data science pay based on seniority, industry sector, and region.

According to the report, top data scientists at hedge funds in prime locations like New York and San Francisco can earn more than twice as much as their peers in banking roles. The average total compensation for a managing director-level position (with 15+ years of experience) in a hedge fund is $777k. Data scientists can earn between $1m and $2m on average, potentially nearly three times the average compensation for senior hedge fund employees.

Selby Jennings’ study delves into the pay for data scientists in seven additional locations across the US and Europe, offering a comparative analysis of average salaries for analysts in each region. For junior data scientists in Europe, Switzerland emerges as an attractive location, with French data scientists working in banks generally earning more than their German counterparts. However, entry-level data scientists in London banks appear notably low compared to New York or buy-side positions.

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