Earnings in Banks, Fintechs, and Hedge Funds: A Comprehensive Overview

In the world of high-paying data science roles in financial services, hedge funds and trading firms are often seen as the go-to places to work. However, 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 upcoming 2024 compensation report from Selby Jennings reveals that managing director-level positions (with 15+ years of experience) in hedge funds can earn an average total compensation of $777k. The report also highlights that 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 according to Selby Jennings’ data. French data scientists working in banks generally earn more than their German counterparts, whereas the opposite is true on the buy-side. The pay for junior data scientists in London banks appears notably low compared to entry-level data scientists in New York who earn three times as much, and twice as much on the buy-side.

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By Samantha Johnson

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