Median long-term bonus expectation at quant funds and prop shops
Hello all,
What is the projected long-term bonus one might expect at quant and prop shops if one survives for several years, like ~10 years, maybe less maybe more, but never gets to one of those commanding seats? There are spotty comments here and there in this forum, so I want to gather some data on the *median* as I believe that's the typical case for most people. Please also specify the type of shop in your comment :-)
People seem to top out anywhere between 400 to 800k, 1m is rare but possible. Maybe 700k is my guess. However, surviving in one place for 10 years without running a book or moving into a senior role is itself a rare outcome, so the unconditional median is much lower. Most people I know who started 10 years ago got fired or left at some point.
In general you can't look at the people who started 10 years ago and see where they are now. Moving up is much harder now since the existing senior people need to leave for those roles to open up. Someone starting today will have a very different (and worse, in my view) set of opportunities for the next 10 years. Also because of real estate inflation and rates, 700k today is more like 400k 10 years ago, if you think of the before-tax wage needed to buy the same type of house.
I don't think a quant could live 10 years at a pod shop and never transition to some sort of PnL generating role. If you want that kind of job join an alpha factory like 2s. If you stayed there the whole time and were promoted to some senior quant role (without bookrunning responsibilities) I think you should expect to earn $750k/year.
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