# PhD salary not too high?

#### quantsmodelsbottles

##### Active Member
I was thinking mid to mid-high six figures for phd, and if by couple of years u mean like 5, then yea

#### MMF

##### New Member
I was thinking mid to mid-high six figures for phd, and if by couple of years u mean like 5, then yea
Is this common? The professor I was speaking to made it seem like 200k is the average cap for an applied math PhD entering the finance world.

#### Onegin

##### Active Member
C++ Student
Yes, for the first year, 200k is quite likely close to average salary. If you've done extraordinary work and are recruited by top tier, then it can be multiples of that. Avg is close to 200k for a good shop, low as 100k for research part of a custody bank, different geography.
@IntoDarkness is correct wrt entry level quant analyst (at least on buy side) growing from 100- 300k after a couple of years. PhD scales similarly, and there's a lot more upside.
Perhaps your professor is conflating initial salary with net present value?

#### quantsmodelsbottles

##### Active Member
Yes, for the first year, 200k is quite likely close to average salary. If you've done extraordinary work and are recruited by top tier, then it can be multiples of that. Avg is close to 200k for a good shop, low as 100k for research part of a custody bank, different geography.
@IntoDarkness is correct wrt entry level quant analyst (at least on buy side) growing from 100- 300k after a couple of years. PhD scales similarly, and there's a lot more upside.
Perhaps your professor is conflating initial salary with net present value?
Is the scaling really that quick? I'm on the buy side and am going to take home around 90-100k first year, including bonuses at all (there is a sign on bonus but with conditions attached so I just discount its value by 50-70%)

#### Onegin

##### Active Member
C++ Student
Is the scaling really that quick? I'm on the buy side and am going to take home around 90-100k first year, including bonuses at all (there is a sign on bonus but with conditions attached so I just discount its value by 50-70%)
At least it was a few years ago, based on what I know. Think 3-5 years, top quartile shop, solid productivity. Main variables are something like 1) firm performance 2) analyst output 3) candidate supply (this is increasing) and then inverse relationship to strength of non-compete.

#### IntoDarkness

##### Active Member
gotta pump those numbers up 100k is rookie number in this racket

#### MMF

##### New Member
gotta pump those numbers up 100k is rookie number in this racket
So what would be a reasonable beginning year(s) salary?

#### quantsmodelsbottles

##### Active Member
gotta pump those numbers up 100k is rookie number in this racket
Got in with low GPA so I'm not complaining but it should resolve itself in a few years if I perform well, I'd imagine

#### MMF

##### New Member
Got in with low GPA so I'm not complaining but it should resolve itself in a few years if I perform well, I'd imagine
What kind of a degree did you have?

#### quantsmodelsbottles

##### Active Member
What kind of a degree did you have?
bachelors in mathematics from a semi-target (think >20 but <50 ranking wise)

#### MMF

##### New Member
bachelors in mathematics from a semi-target (think >20 but <50 ranking wise)
That's great! Not often you see people land such a job with a bachelors.

#### Matt A

##### New Member
What would be a reasonable base as an mfe graduate with no prior experience? On the ranking page I'm seeing 100k but here it's 300k+? I'm confused