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

High Pay for Data Scientists in Financial Services: Insights from a Compensation Report

In the realm of high-paying data science roles in financial services, there is a wide range of opportunities to earn substantial salaries. While hedge funds and trading firms are often considered the best places to work, banks and fintech companies also offer lucrative positions for data scientists. A new compensation report from recruitment firm Selby Jennings sheds light on data science pay based on seniority, industry sector, and region.

According to the report, top data scientists at hedge funds in prime locations such as New York and San Francisco can earn more than twice as much as their peers in banking roles. Specifically, Selby Jennings’ study reveals that managing directors-level positions (with 15+ years of experience) in hedge funds can earn an average total compensation of $777k. Additionally, top data scientists at these hedge funds can earn between $1m and $2m on average, potentially nearly three times the average compensation for senior hedge fund employees.

Selby Jennings’ study also provides insights into the pay for data scientists in seven additional locations across the US and Europe. For junior data scientists in Europe, Switzerland emerges as an attractive location due to its high salaries compared to other countries. French data scientists working in banks generally earn more than their German counterparts, whereas the opposite is true on the buy-side. Junior data scientists in London banks appear to be notably underpaid compared to their counterparts in New York and other markets around the world.

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