Compensation Expectations
I was recently quoted a role as an entry level Repo Trader at a tier 1 prop shop (non market maker) in NYC at 175K OTE (125 base + ~50 bonus). Curious what the comps look like considering there is a lack of reporting on buy-side Repo packages. Additionally, would be interested in any estimates or opinions on this offer.
Please note: This role is viewed as directly contributing to Pnl by management & I would be not only be generating trade ideas, but rather executing the strategy as well.
Based on the most helpful WSO content, your quoted offer of $175K OTE (with $125K base and ~$50K bonus) for an entry-level Repo Trader role at a tier 1 prop shop in NYC seems competitive, especially for a position that directly contributes to PnL and involves both generating trade ideas and executing strategies.
For context: - At top-tier prop trading firms (e.g., Jane Street, Citadel, etc.), entry-level roles often start with total compensation in the range of $250K-$300K, but these are typically for quant-heavy or market-making roles. - At slightly less prestigious firms (e.g., Akuna, CTC, Group One), first-year compensation is often closer to $100K-$150K base with bonuses nearing 100% of the base, depending on performance. - In Europe, entry-level trading roles can start at £30K-£55K base with bonuses ranging from 0-75%, depending on firm performance and individual contribution.
Given that your role is directly tied to PnL and involves execution, the $175K OTE aligns well with expectations for a tier 1 prop shop, though it is slightly below the upper end of the spectrum for top-tier firms. If the shop has a strong reputation and offers significant upside potential tied to performance, this could still be a solid offer.
Sources: What is your compensation in Real Estate Finance?, REPE compensation, RE: Prop/Quant Trading - Why is it not as big a target as Investment Banking?, Q&A: Top Quant Firms First Year Comp 250k to 400k, Prop Trading Pay at Different Firms?
Eum suscipit voluptatem tempore iste fuga blanditiis repellat ex. Voluptas nisi asperiores fugit doloribus. Sint reiciendis quis temporibus et et.
Voluptas sint voluptatem aut alias molestiae consequatur non. Eos ullam officiis velit aut est. Saepe laborum quae molestiae in quod ducimus rem vel. Nesciunt et nobis odit iste dicta neque aut.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...