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 Researcher in Da Vinci Derivatives
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 Quant Researcher in Da Vinci Derivatives is 153,000 EUR ( Approx. 1,29,00,000 INR). This is for employees working in their Amsterdam Office.
The salary is broken up into multiple components.
- Base Salary – EUR 80,000
- Sign On Bonus – EUR 20,000
- Min. Bonus First Year – EUR 50,000
- Relocation bonus – EUR 3,000
This CTC can increase based on your performance, this is just a minimum amount you would get in the first year.
This position is in Amsterdam so you also have to consider insane 50% income tax instead of just 30% here in India and higher living cost too. you would be actually saving more money here in India with just half the CTC but in exchange you get to enjoy benefits of higher standard of living and social welfare benefits. I mean this is one of the most happiest country (Netherlands) in the world. some consider living in these beautiful countries a plus point too.
They don’t mention extra little benefits in the CTC like free food, amenities, parties etc. etc. like other firms. but I’m sure they offer those benefits too. and stuff like health care / education is free in Nordic nations.