The truth about data science salaries in hedge funds
Much of the excitement about technology jobs at hedge funds goes to their quantitative developers and researchers. Data scientists, data engineering and data analysis jobs don't always get the same visibility but they too are capable of commanding hefty pay packages.
The major hedge funds have all been hiring data scientists at different rates, but which ones have hired the most and which provide the biggest salaries? Data filed with the US government for H1B visa hires offers an explanation.
H1B visa data suggests that the biggest spender of all on data staff is Point72. The hedge fund recruited 12 data science professionals in 2022 and paid an average base salary of $141.1k. Citadel hired less but paid its data staff the most, with two of its four data science hires earning a base salary of $200k.
Millennium hired the most data staff of all, but was less generous by comparison. This might be because its hiring was skewed towards comparatively poorly paid data engineers, who earned less than $100k. But Millennium's highest paid H1B data scientist earned $128k last year, which was still well below most other averages.
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