Zeno Toulon
Hedge fund pay is pretty stacked, everyone knows. But the details have been little opaque – until New York's new pay law came along and compelled companies to disclose how much they're offering.
We’ve trawled through some of the biggest hedge funds in the world’s 2024 job postings to identify and aggregate their pay figures for interns in 2024.
The best paying internships we found were at Point72, which is offering up to $25k a month to quantitative research and developers. That’s a pretty hefty pay rise on the $16k we saw them paying last year. No other hedge fund seems to have given a comparable rise; at Citadel and D.E. Shaw pay is on a par with last year at $20k-$21k maximum.
Hedge fund intern salaries vary widely role to role. A quantitative research or development role can pay twice as much as an operations one – although that shouldn’t come as a surprise to anyone that’s poked their nose into our salary and bonus report.
If you want a hedge fund internship, the list below is a guide to pay on a monthly basis (some data came in annual/weekly values and was divided/multiplied accordingly).
We're only listing a few big hedge funds. That’s to be expected – the vast majority of hedge funds don’t run internship programs, so these are the biggest of the big. Of those that do run internship programs, not all are open for 2024. And not all hedge funds hire interns in New York, where they’re legally obliged to disclose compensation data (even for internships).
This is also why some big funds like Millennium Management, Balyasny Asset Management, and Man Group aren’t in the list below. But there’s no reason to expect pay at any of those, assuming similar roles, to be very different to the ones we’ve found and compiled.
Monthly Pay for open internships at select hedge funds, 2024
MISSING: summary MISSING: current-rows.
Hedge Fund Title Monthly Pay
Citadel Quantiative Research Analyst intern $13,460 - $20,000
Quantiative Research Analyst intern, PhD $17,300 - $21,200
Investment & Trading intern $13,200 - $20,000
Software Engineering intern $17,200 - $19,200
D.E. Shaw & Co. Quantitative Analyst intern $19,000
Quantitative Analyst intern, PhD $20,000
Generalist intern $9,000
Strategy and Business Development intern $10,000
Software Development intern $19,000
Software Development intern, PhD $20,000
System Administrator Intern $10,000
Systems Engineering intern $14,000 - $19,000
Proprietary Trading intern $15,000
Systems Technical Program Manager intern $14,000 - $19,000
Point72 Fundamental Research Analyst intern $6,750 - $8,333
Data Engineer, Proprietary Research intern $10,833 - $12,917
Sector Analyst, Proprietary Research intern $6,750 - $8,333
Data Scientist, Proprietary Research intern $10,417 - $12,500
Quantiative Research intern $20,833 - $25,000
Quantiative Developer intern $20,000 - $25,000
Two Sigma Quantiative Research intern $14,800 - $16,800
Source: eFinancialCareers
Original content:
https://shorturl.at/dAXY4
