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 Quantbox Research
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 Quantbox is 270,000 SGD ( Approx. 1,50,00,000 INR, assuming you get maximum bonus ). This is for employees working in their Singapore Office.
The salary is broken up into multiple components.
- Base Salary – SGD 1,10,000
- Sign On Bonus – SGD 20,000
- Bonus First Year – SGD 40,000 – 80,000
- Non cash benefits – SGD 10,000
- ESOP benefits – SGD 50,000
Apart from this they also mention bonus for second year 60,000 – 1,20,000. claiming their total CTC to between 2,90,000 – 3,90,000 SGD. but as I mentioned in the first year you will only get 270,000 at max. in the first year. Singapore is a very good place to live compared to India with lower taxes ( only 22% income tax ). this is a good opportunity to consider if you want to live abroad.
Do these HFT firms open for MTech students also in IIT placement?