Earnings in Banks, Fintechs, and Hedge Funds: What to Expect

Unlocking the Secrets to lucrative Data Science Roles in Financial Services: A Breakdown of Salaries by Seniority, Sector and Region

Looking for a lucrative data science role in financial services? It’s important to understand that not all jobs are equal. While hedge funds and trading firms are generally known for their high-paying positions, there is still the potential to earn a significant salary at a bank or fintech firm as well.

Recent compensation reports from recruitment firm Selby Jennings provide insight into data science pay by seniority, sector, and region. The report highlights that top data scientists working at hedge funds in prime-paying locations like New York and San Francisco can earn over twice as much as those at banking institutions. Managing director-equivalent roles in hedge funds can command an average total compensation of $777k, with potential earnings between $1m and $2m on average, nearly three times as much as other senior hedge fund employees.

Selby Jennings’ report also dissects pay for data scientists in various locations across the US and Europe. Young data scientists in Europe may find promising opportunities in Switzerland, while French data scientists typically earn more than their German counterparts in banks. Junior data scientists in London banks receive lower pay compared to their counterparts in New York, where entry-level salaries are three times as high. On the buy-side, New York pay is still considerably higher.

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