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 Millennium Management
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 Researcher in Millennium Management is 62,00,000 INR. This is for employees working from Mumbai location.
The salary is broken up into multiple components.
- Base Salary – INR 45,00,000
- Min. Bonus First Year – INR 15,00,000 (they don’t mention max bonus)
- Relocation bonus – 2,00,000
Millennium Management is a big investment management firm with over 52 billion USD under management established in 1989, they have more than 3000 employees. This CTC seems much lower than CTC of other Quant firms. but other firms use gimmicks like including max bonus and other perks in CTC. Millennium Management’s JAF doesn’t mention these perks. but I am assuming they will also provide similar benefits to the employees.
they also offer a little more base than standard 40,00,000 INR. considering these points the CTC is actually comparable to other firms offering Quant position.