How much can you earn as an engineer working for a hedge fund? Newly released figures from quant fund Two Sigma in London suggest a mid-range six figure package is eminently reasonable.
Two Sigma International Ltd. employed 57 people in London in 2021, up from 43 in 2020. Staff were paid a total of £159m last year, or an average of £278k ($340k) each.
This looks generous given that headcount at Two Sigma was distributed as follows last year and that nearly 70% of employees work in engineering.
New York-based Two Sigma is a quantitative hedge fund which had around $63bn in assets under management at the end of 2021, when it was up nearly 18% through to November. Two Sigma International is a tiny part of the fund's empire: it has 1,600 employees in total, of whom 50% are engineers.
In New York, H1B salary data indicates that Two Sigma pays software engineers on visas salaries between $175k and $275k. Data analysts based in Houston are paid salaries of $140k. Levelsfyi says software engineers at the fund are paid total compensation (salaries plus bonuses) of between $240k and $412k.
Two Sigma is currently focused on building out a team in China, where Bloomberg says it's currently hiring another 10 people.
While two Sigma pays well, it doesn't pay as much as rivals like Jane Street, which is offering graduate recruits packages of $275k this year.
Click here to create a profile on eFinancialCareers. Make yourself visible to recruiters hiring for top jobs in technology and finance.
Have a confidential story, tip, or comment you’d like to share? Contact: [email protected] in the first instance. Whatsapp/Signal/Telegram also available (Telegram: @SarahButcher)
Bear with us if you leave a comment at the bottom of this article: all our comments are moderated by human beings. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. Eventually it will – unless it’s offensive or libelous (in which case it won’t.)
Photo by Alexander Schimmeck on Unsplash