Hedge fund quants are increasingly heading for the exits after receiving underwhelming bonuses, despite the availability of flexible working arrangements, according to a report by eFinancial Craeers citing a new industry salary survey from recruitment firm Albert Bow.
The study, which polled over 200 quantitative professionals across hedge funds and proprietary trading firms, revealed that nearly 80% of respondents are either actively job hunting or considering a move. The primary driver: dissatisfaction with compensation.
On average, quants rated their latest bonus just 5.5 out of 10 compared to their expectations, with over 13% giving it a dismal one out of 10. More than one in five meanwhile, received no bonus at all – a surprising figure in an industry where pay-for-performance has long been a cornerstone.
While some high earners were rewarded handsomely – 23.1% received bonuses exceeding 150% of base salary – the majority fell into the 10–50% bonus range, well below typical pre-pandemic hedge fund benchmarks. A senior C++ engineer working in crypto stood out as a top earner, taking home a €1.1m salary with a 100% bonus.
The report also found that hybrid and remote working remain prevalent among quants, with 32.7% in hybrid roles and 28.8% fully remote. However, the ability to work from home hasn’t been enough to offset dissatisfaction with pay and performance pressure.
Recruiters suggest the dissatisfaction may be linked to the underperformance of some quant-focused hedge funds, such as Cubist and Qube, which have posted muted returns in recent quarters. As a result, many quants are considering roles outside the traditional hedge fund space, with firms like OpenAI reportedly offering packages of up to $3m to attract high-frequency trading talent into AI research and development.
