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

In the high-paying data science roles in financial services, there is no one-size-fits-all when it comes to compensation. While hedge funds and trading firms are often considered the top places to work, banks and fintech companies also offer substantial pay for data scientists. 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. For instance, 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.

The study by Selby Jennings 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. The results reveal that junior data scientists in Europe should consider Switzerland as an attractive location due to its comparatively higher salaries compared to other countries in Europe. French data scientists working in banks generally earn more than their German counterparts, whereas the opposite is true on the buy-side. However, entry-level data scientists in London banks appear to be paid notably low compared to their peers in New York, who earn three times as much on average.

As a journalist who specializes in rewriting articles and making them unique, I urge readers to keep an eye out for our upcoming 2024 compensation report set to be released this Friday. It will provide valuable insights into data science pay based on various factors such as seniority, industry sector, and region.

By Sophia Gonzalez

As a content writer at newsgreg.com, I am dedicated to crafting engaging stories that captivate our readers. With a knack for turning complex topics into accessible and compelling narratives, I weave words together to inform and inspire. My passion lies in delivering accurate and thought-provoking content that keeps our audience informed and entertained. From breaking news stories to in-depth features, I strive to bring a fresh perspective to every piece I create. Join me on this journey of exploration and discovery through the power of words at newsgreg.com.

Leave a Reply