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 Quadeye
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 Quadeye is 1,20,00,000 INR or 1.2 CRORE INR (Yep with a big C, assuming you bag that max bonus). This is for employees working in their Gurgaon Office.
The salary is broken up into multiple components.
- Base Salary – INR 50,00,000
- Sign On Bonus – INR 10,00,000
- Bonus First Year – INR 25,00,000 – 54,00,000
- Non Cash Benefits – INR 6,00,000
1.2 Crore as salary for a fresher is very huge, even if you don’t get full bonus you CTC still will be 91 Lakhs. this is almost 3-4 times that of software roles. and almost twice of the salary offered just a year prior in the same firms. this is a pattern observed this year across all the HFTs. It is true they will only take only few top candidates but you can make a fortune in just a few years if you are in a good IIT with good grads and good technical knowledge.
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.
- Annual team vacation at international places
- Group health insurance and term insurance
- Meals and snacks at office
- Team parties
- Temporary accommodation for 2 weeks and relocation reimbursements
- 30 days paid leaves in a calendar year