Earnings in Banks, Fintechs, and Hedge Funds: A Comprehensive Overview

Data Science Compensation Report Reveals Hedge Funds and Banks Pay Up to $2M for Top Managing Directors

High-paying data science roles in financial services are not one-size-fits-all. While hedge funds and trading firms are typically the top places to work, banks and fintech companies also offer substantial compensation. A new compensation report from recruitment firm Selby Jennings provides insights into data science pay based on seniority, industry sector, and region.

According to the report, top data scientists at hedge funds in prime locations like New York and San Francisco can earn more than twice as much as their peers in banking roles. The average total compensation for a managing director-level position (with 15+ years of experience) in a hedge fund is $777k, with data scientists potentially earning between $1m and $2m on average. This is nearly three times the average compensation for senior hedge fund employees.

Selby Jennings’ study delves into the pay for data scientists in seven additional locations across the US and Europe, offering a comparative analysis of average salaries for analysts in each region. For junior data scientists in Europe, Switzerland emerges as an attractive location, with French data scientists working in banks generally earning more than their German counterparts. However, entry-level data scientists in London banks appear notably low, with junior data scientists in New York earning three times as much and twice as much on the buy-side.

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