• Sun. Apr 14th, 2024

Data Science Pay Disparities in Financial Services: A Look at Hedge Funds, Banks and Beyond

BySamantha Nguyen

Apr 3, 2024
Earnings in Banks, Fintechs, and Hedge Funds: A Comprehensive Overview

Data Science Compensation Report Reveals Disparities in Financial Services

Selby Jennings’ latest compensation report sheds light on the disparities in data science pay across various industries and regions within financial services. The report highlights that while hedge funds and trading firms are typically the top-paying employers, there is still substantial potential to earn significant salaries at banks or fintech companies.

The study reveals that top data scientists at hedge funds in prime locations like New York and San Francisco can earn more than twice as much as their peers in banking roles. For instance, a managing director-level position (with 15+ years of experience) in a hedge fund in these cities can earn an average of $777k, potentially nearly three times the average compensation for senior hedge fund employees.

However, Selby Jennings’ analysis goes beyond just hedge funds to examine data science pay across various industries and regions within financial services. The report provides a comparative analysis of average salaries for analysts in seven additional locations across the US and Europe.

For junior data scientists, Switzerland emerges as an attractive location due to its high salaries. In contrast, French data scientists working in banks generally earn more than their German counterparts, whereas the opposite is true on the buy-side. However, entry-level data scientists in London banks appear to have notably low pay compared to their peers in New York, earning only one-third as much on average.

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By Samantha Nguyen

As a content writer at newsskio.com, I weave words to craft compelling narratives that captivate readers and bring stories to life. With a keen eye for detail and a passion for storytelling, I strive to create engaging and informative content that resonates with our audience. Whether I'm delving into the latest news trends or exploring unique angles on various topics, my goal is to deliver quality content that informs, entertains, and inspires. Join me on this journey as we uncover the news stories that matter most.

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