This post lists down the breakup of the overall CTC that is being offered to graduates from the top 3 IITs after their BTech for Quantitative Researcher/ Trader Role.
The salary has been hiked by a significant amount this year and the reason for that is very interesting and I will cover it in another post. That post will list down the reason why the HFTs or High Frequency Trading firms are offering huge CTCs this year. This is on top of them already being among the top in terms of the CTC they provide in India.
Salary of Quant Trader in AlphaGrep Securities
The salary mentioned below is in accordance with the JAFs in IIT Bombay (or the Job Application Form) and JNF in IIT Delhi (Job Notification Form) for the year 2021. The freshers joining in 2022 will be getting this salary as well the salary will be hiked for the current employees accordingly and will be higher than the freshers (since they have greater job experience).
CTC for Quantitative strategist/Algorithmic Trader in Salary of Quant Trader in AlphaGrep Securities is 73,00,000 INR (assuming you get max bonus, you will get 63 Lakhs minimum). This is for employees working in their Mumbai, Bangalore and Gurgaon Office.
The salary is broken up into multiple components.
- Base Salary – INR 40,00,000
- Sign On Bonus – INR 2,00,000
- Bonus First Year – INR 15,00,000 – 25,00,000
- Non Cash Benefits – INR 6,00,000
Official CTC the in the JNF was 1.03 Crore ( I guess just to “apply Job bait” with that BIG C number). but it includes 2nd year bonus as well which is 20L – 30L. this CTC is huge compared to software profile and previous years salaries but for this years offers in algo traders role, this is actually on the lower side.
Other Perks and Bonus
Apart from the salary, there is other perks/bonus that the employee gets. I will try to list most of them here.
- Technology budget to purchase latest gadgets ( this is a new thing, I wish this catches on)
- Group health insurance and term insurance
- Meals and snacks at office
- Team parties
- Fitness and International allowance
- 30 days paid leaves in a calendar year