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PhD salary not too high?

MMF

Member
I am currently a PhD student studying math and I was speaking to one of the professors the other day who told me too many students intend to land a QF job upon graduation with the expectation of getting a big salary but how that's far from the truth. Forgive me if I'm being ignorant, and I know it's highly variable, but I thought with a PhD from a solid school you'd be making at least $200k+/year?
 
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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.
 

Matt A

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
 
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