Quantitative Research & Trading

Quantitative Research & Trading

Selby Jennings: A Specialist Quantitative Research & Trading recruiter in Singapore

Selby Jennings is a leading specialist talent partner for financial sciences & services. Our global Quants team provides permanent, contract, and multi-hire talent solutions in Singapore.

For nearly 20 years, financial firms and professionals have benefited from our extensive experience and global network.vFrom streamlining processes and upskilling workforces, to staying cutting edge by employing flexible working models, we advise enterprise leaders on when to strike and how. We also provide expert insight into Quantitative Research & Trading salaries in Singapore, and assist them through their career moves.

Winning ‘Best Executive Search – Quant’, by HFM Award 2021, we are committed to helping our clients secure top Quants talent.

If you're interested in securing exceptional Quantitative talent in Singapore, request a call back today. If you're a Quants professional on a mission for Quantitative Research jobs, the Selby Jennings global Quants team delivers exceptional recruitment to industry-leading firms, from global investment banks, boutique hedge funds, and management consultancies, to software providers, and everything in between. Submit your CV/resume today and one of our talent consultants will get back to you if a role fits your profile.

If you are a candidate, please Register your CV and get discovered for all relevant roles.

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​If you are a client looking to source the best talent in Singapore, please Register Your Vacancy or Request a Call back.


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Benefits of working with Selby Jennings

We are a specialist talent/recruitment partner. Among the many benefits of working with Selby Jennings Quantitative Research & Trading team located in Singapore:

Experience

We have nearly 20 years of experience as a leading recruiter in financial sciences & services.

​Network

A vast, global network of the best, in-demand professionals, working with the world’s largest financial institutions to innovative fintech start-ups and beyond.​

​Knowledge

Our award-winning talent specialists offer bespoke, tailored guidance on the latest hiring trends and industry news to help you achieve your goals.

At Selby Jennings, we believe in fostering long-term partnerships based on trust, integrity, and mutual success. We strive to provide personalized solutions tailored to your specific requirements, offering flexible options to accommodate your Quantitative Research & Trading hiring preferences. Whether you need to fill critical positions quickly or are seeking strategic talent acquisition solutions, we have the resources and expertise to deliver results. Submit your vacancy to us today.

Take the first step towards overcoming your talent shortage today by completing the form. Our team looks forward to speaking with you to explore how we can partner with your organization to meet your Quantitative Research & Trading recruitment needs in Singapore efficiently and effectively.

Quantitative Research & Trading Jobs

Quantitative Developer

Title: Quantitative Developer Salary: $250,000 - $300,000 total compensation Summary: The Quantitative Strategies Group at a Tier 1 Multi-Manager Firm is looking to bring on a Quantitative Developer to their flat-structured, collaborative team to work directly alongside the Head of the QSG as well as the Head of the Trade Technology Development. Responsibilities: Build quantitative infrastructure for generating alpha, constructing portfolios, and executing algorithmic trading strategies. Design and develop proprietary trading systems, collaborating closely with Traders and Researchers to create and refine new strategies. Implement and oversee CI/CD pipelines, ensuring smooth and efficient integration and deployment of code. Qualifications: Strong proficiency in Python and Java/C++/C. 2-5 years hand-on experience building quantitative infrastructure and trading systems. Advanced degree in Computer Science, Engineering, Statistics or in other quantitative fields. Proven expertise in implementing and managing CI/CD pipelines, ensuring seamless integration and deployment of code in a fast-paced development environment is non-negotiable.

US$250000 - US$300000 per year
United States of America
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C++ Quantitative Developer

Selby Jennings is working with a leading Proprietary Trading firm. They empower exceptional talents in Mathematics, Physics, and Computer Science to seek scientific boundaries, push through them, and apply cutting edge research to global financial markets. Their culture is unique. Constant innovation requires fearlessness, creativity, intellectual honesty, and a relentless competitive streak. They believe in winning together and unlocking unique individual talent through collaboration and mutual respect. At this firm, research outcomes drive more than superior risk adjusted returns. We design, develop, and deploy technologies that change our world, fund start-ups across industries, and partner with leading global research organizations and universities to solve problems. Core Development is a global team of technologists who architect, build and maintain their world-class trading platform. From optimizing their core trading engine to building custom hardware, they leverage software & hardware engineering, data science and research, to deliver the infrastructure and tools that drive our trading and business needs. What You'll Do: We are looking to add a talented Software Engineer/Quant Developer to their Core Development team, which is responsible for designing, developing and maintaining their Algorithmic Trading Platform. They will be focused on C++ functionality, and will be responsible for creating and optimizing scalable, multi-tiered applications and infrastructure. We are looking for someone who will be able to solve difficult technical problems in a fast-paced and energetic environment. This may include other duties as assigned or needed. Skills You'll Need: At least 4+ years of computer programming skills using C++ in a Linux environment Strong understanding of computer systems e.g. operating systems, networks, performance optimization, etc Experience in Object-Oriented design and multi threaded programming Experience in creating/supporting cross-platform multi threaded applications Strong analytical and problem solving skills Ideally some experience in developing low latency systems Bachelor's degree in Computer Science, Computer Engineering or related field Reliable and predictable availability

US$200000 - US$500000 per year
New York
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Senior Regulatory Specialist

Role: Regulatory Reporting Specialist Location: Amsterdam Package: Competitive base Reporting To: Finance Director/CFO Working model: On-site The office is at the forefront of everyday European trading events and has the feel of a small start-up with the benefits of being part of one of the leading quantitative trading firms in the world. As a Regulatory Reporting Specialist within a global finance organization, you will play a crucial role in ensuring our adherence to all relevant European regulatory requirements and standards. The role involves timely and accurate submission of our European regulatory reports and annual audited financial statements and working within Finance department to enhance our regulatory framework. In this role, you will also collaborate closely with other members of accounting, treasury, tax, compliance, risk, clearing, and other back-office support functions and provide insights to support our decision-making process. This role is based out of our Amsterdam office with an expectation to work in the office. What you'll do: Regulatory reporting * Prepare and submit accurate and timely regulatory reports including COREP, FINREP, MSR, MESREP. * Produce various annual filings such as ICAAP document, Recovery and resolution plan, and Pillar 3. * Prepare policy/procedure documentation in relation to Regulatory reporting including interpretations of new regulations. * Assist in any ad-hoc requests from regulators. * Ensure timely, accurate completion of related special project/analysis work and other ad hoc tasks as requested of direct manager, controller, and/or CFO. * Review and distribute of daily capital and liquidity metrics to key stakeholders (i.e. Proforma Report). * Participate in cross-functional projects to enhance regulatory compliance and financial reporting processes. * Work in partnership with the business with respect to new products/business onboarding. * Provide regulatory guidance and support to other departments. * Develop robust improvements and controls within the regulatory reporting environment. Statutory Accounting * Assist with the preparation of Annual Statutory Accounts for our European trading entity, including compliance with each applicable local GAAP standards. * Support month end and year end close processes. * Other duties as assigned or needed. Skills you'll need: * 5+ years of work experience in the preparation of regulatory returns. * Knowledge of CRD IV and Investment Firm Regime. * Experience of production of COREP/FINREP reports. * Bachelor's degree in accounting or a related field is required (CPA or international equivalent, preferred). * Ability to multitask and prioritize multiple projects in a fast-paced environment. * Flexible, conscientious, and easily adaptable to constant change. * Professional demeanor and ability to use discretion when working with confidential material. Are you a highly organized, strong communicator, with a passion for our industry? Do you have a naturally analytical mind and intellectual curiosity that pushes you to reach your fullest potential? We require an individual with strong technical skills and a desire to join a fast paced, collaborative team environment.

Negotiable
Amsterdam
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Index Rebalance Quant Researcher

A tenured Index Rebal Portfolio Manager is actively looking to fill additional head count within their team. The group is located in NYC and looking for an strong quant from either an Index Rebal background on the buy side or Program Trading experience on a sell side desk. This is a great opportunity to work collaboratively with like minded individuals, at a premier hedge fund, on generating profitable systematic trading strategies in the space. Requirements 3+ years experience in index rebal strategy development or program trading Strong understanding of equities and futures markets Strong programming skills (Python, C++, etc.) STEM degree from top university (MS or PhD is preferred)

US$250000 - US$750000 per year
New York
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Director ML Quantitative Strategist

I am working with an established fintech firm that is looking to hire a Director to their team in NY. They are looking for an individual with at least a decade worth of experience in finance or technology that is interested in applying their industry knowledge in various ways. Specifically, this person would need a deep understanding of fixed income markets, experience working with or alongside a trading desk, and a background in machine learning. You would have the opportunity to wear multiple hats in this role while helping to develop proprietary algorithms and ML models for the business. If you are interested in joining an academic group of individuals with diverse backgrounds and skillets within an organization that fosters entrepreneurial and collaborative environment, please apply to the below role or reach out to discuss more information. Responsibilities: Develop proprietary FI models and analytics from scratch utilizing machine learning. Develop tools to advance trading functionality in researching and wrangling large data sets. Collaborate with other groups in the organization and provide data-driven insights. Requirements: Undergraduate or Graduate degree in a Quantitative discipline 10+ years of experience in quantitative finance or technology developing models and analytics Applied experience working in fixed income market Python proficiency

US$300000 - US$550000 per year
New York
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Associate Director ABS Quant

Title: Associate Director ABS Quant Salary: $225,000 + Total Compensation A top tier global investment bank is currently building out their ABS trading desk and looking to make the very first quant hire to support the desk. The ideal candidate will join as an Associate Director and have a deep product knowledge of ABS & MBS modeling skills. This is an amazing opportunity that embodies entrepreneurship and ownership as you will be joining a team that is in the midst of a greenfield build out. Proficiency in C++ is a must. Qualifications: Advanced degree in a quantitative field 2+ years of experience in ABS and/or MBS modeling Knowledge of Auto Loans and Credit Cards, also open to other esoterics as well Expert in C++ Work well in fast-paced environment and communicate with the trading desk Responsibilities: Develop models for ABS, MBS products Develop reliable & robust front office analytics for hedging, pricing, risk management and P&L attribution Work closely and communicate daily with traders and the trading desk Provide daily quantitative support to the desk and broader business

US$225000 - US$350000 per year
New York
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LNG Trading Analyst (Python)

Job Title: LNG Trading Analyst Location: Aarhus, Denmark (Possibility of Remote) Company Overview: Our client is a leading energy trading firm specializing in LNG (Liquefied Natural Gas) trading. We are committed to delivering innovative energy solutions while maintaining a strong focus on sustainability and market excellence. Position Overview: We are seeking a highly motivated and detail-oriented individual with a minimum of 3 years of experience to join our team as an LNG Trading Analyst. The ideal candidate will possess a strong analytical mindset, excellent communication skills, and a deep understanding of the LNG market dynamics, including US and continental gas markets. Knowledge of Python programming language is considered an advantage. Responsibilities: Analyze market trends, supply-demand dynamics, and pricing structures in the global LNG market, with a specific focus on US and continental gas markets. Develop and maintain models to forecast LNG supply, demand, and pricing movements. Conduct quantitative analysis to identify trading opportunities and optimize trading strategies. Collaborate with traders and other team members to execute trading decisions effectively. Monitor and evaluate the performance of LNG trades and positions. Stay abreast of regulatory changes, geopolitical developments, and industry news affecting the LNG market. Prepare reports, presentations, and market updates for internal stakeholders and clients. Provide insights and recommendations to senior management based on market analysis and research. Qualifications: Bachelor's or Master's degree in Finance, Economics, Engineering, or a related field. Minimum of 3 years of experience in energy trading, preferably in the LNG market, with specific knowledge of US and continental gas markets. Strong analytical skills with proficiency in data analysis and modeling. Familiarity with programming languages such as Python is an advantage. Excellent communication and interpersonal skills. Ability to work independently and collaboratively in a fast-paced environment. Attention to detail and ability to handle multiple tasks simultaneously. Strong commitment to integrity, professionalism, and continuous learning. Benefits: Competitive salary and performance-based bonuses. Comprehensive benefits package, including health insurance and retirement plans. Opportunities for career growth and advancement within the company. Flexible work arrangements, including the possibility of remote work. Dynamic and collaborative work environment with a diverse team of professionals. Application Process: Interested candidates are encouraged to submit their resume along with a cover letter outlining their qualifications and interest in the position. Please include any relevant experience in energy trading, specifically in the LNG market and US and continental gas markets, as well as proficiency in programming languages. We thank all applicants for their interest; however, only those selected for an interview will be contacted. Our client is an equal opportunity employer committed to diversity and inclusion in the workplace. We encourage applications from individuals of all backgrounds and experiences.

Negotiable
Aarhus
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VP Interest Rate Quant

A leading global investment bank is actively seeking an Interest Rate Curve Quant to join their team in New York. This is off the bank end of a strong performance in 2023 and they just got approvals to grow the team. This hire would sit in a team that supports front office pricing, modeling and analytics for the trading desks across multiple asset classes including interest rates , FX, Credit, and commodities. In addition, this group is led by two directors who are eager to leverage years worth of tenured industry experience. Key responsibilities: Develop interest rate curves and linear rates pricing models and analytics Develop tools and analytics for hedging, PnL explains, and risk management Directly support interest rate traders and collaborate with the broader fixed income quant team, technology and risk. Ideal Candidate: Masters or PhD in a quantitative discipline (i.e. math, stats, physics) 3+ years of experience supporting FICC quant team/trading desk 3+ years of professional experience with C++ is required

US$200000 - US$250000 per year
New York
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Fixed Income Algo Quant Strat

Fixed Income Algo Quant Strat A tier 1 fixed income trading team in NYC is seeking a Fixed Income Algo Quant Strat to join the business. This is an excellent opportunity to work directly with the highly successful fixed income eTrading and Algo trading desks. The ideal profile will Java programming proficiency, but also strong business and market acumen to interface with the traders on a daily basis. Required Skills: - Experience supporting IR, credit or corporate bonds algo/eTrading desks - Market making skills required, including understanding RFQ protocols and other system configurations. - 3+ years of industry experience - Java programming proficiency - Strong traditional quant modeling/development skills

US$300000 - US$450000 per year
New York
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Quant Researcher MFT

Job Title: Quantitative Researcher (Equities - Mid Frequency) Location: Paris, France About Our Client: Our Client is a prestigious quantitative hedge fund, recognized for its advanced trading strategies and exceptional performance in global financial markets. With a focus on rigorous research and cutting-edge technology, Our Client remains at the forefront of quantitative investing, delivering superior returns for its investors. Position Overview: Our Client - Quantitative Hedge Fund is seeking a talented Quantitative Researcher with expertise in equities, particularly in mid-frequency trading strategies, to join our dynamic team in Paris. As a Quantitative Researcher, you will play a pivotal role in developing and enhancing quantitative models and strategies to optimize trading performance in equities markets. Key Responsibilities: Research and Model Development Conduct empirical research to identify and exploit inefficiencies in equities markets using statistical analysis and machine learning techniques. Develop, implement, and refine mid-frequency trading strategies across various equities markets to generate alpha. Utilize advanced quantitative methods to enhance trading algorithms and optimize execution strategies. Data Analysis and Modeling: Collect, clean, and analyze large-scale financial datasets to extract meaningful insights and identify actionable trading opportunities. Build and maintain sophisticated quantitative models to forecast market trends, volatility, and other relevant factors impacting equities prices. Perform rigorous backtesting and simulation analyses to assess the performance and robustness of trading strategies. Collaboration and Communication: Collaborate closely with portfolio managers, traders, and other members of the research team to integrate quantitative insights into the investment process. Communicate research findings, model methodologies, and trading recommendations effectively to stakeholders across the organization. Stay abreast of the latest developments in quantitative finance, market microstructure, and technology to contribute to the ongoing innovation and success of the hedge fund. Qualifications: Advanced degree (Ph.D. or Master's) in quantitative finance, mathematics, statistics, physics, computer science, or a related field. Proven experience (3+ years) in quantitative research and modeling within equities markets, preferably in a mid-frequency trading environment. Strong proficiency in Python for quantitative analysis and model development. Deep understanding of statistical analysis, time series analysis, machine learning techniques, and their application to financial markets. Experience working with large-scale financial datasets and familiarity with data analysis tools such as Pandas, NumPy, or MATLAB. Excellent problem-solving skills, critical thinking abilities, and a passion for leveraging quantitative methods to drive investment success. Strong communication skills with the ability to effectively collaborate with cross-functional teams and articulate complex concepts to non-technical stakeholders. Fluency in English; proficiency in French is a plus. Join Our Client: If you are a driven and talented quantitative researcher looking to make an impact in the dynamic world of hedge fund investing, Our Client offers an exciting opportunity to work alongside industry leaders and contribute to innovative investment strategies. Join them in our mission to deliver superior returns for our investors while pushing the boundaries of quantitative finance. Apply now to be part of their team in Paris!

Negotiable
Paris
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Quant Developer

Quantitative Developer Our client, a leading financial firm based in Paris, specializing in mid-frequency quantitative strategies across fixed income, futures, and equities, is seeking a skilled Quantitative Developer to join their dynamic team. This role offers the opportunity to work on-site, contributing to the development and enhancement of cutting-edge trading algorithms and infrastructure. Responsibilities: Collaborate with quantitative researchers and traders to design, implement, and maintain proprietary trading models and strategies. Develop robust and scalable software solutions for data processing, statistical analysis, and algorithmic trading. Optimize performance of existing trading systems through code refactoring and algorithmic improvements. Conduct thorough testing and validation of trading algorithms to ensure accuracy and reliability in real-time trading environments. Monitor and analyze market data and trading performance to identify areas for improvement and optimization. Work closely with other members of the technology team to integrate new technologies and tools into existing trading infrastructure. Provide technical support and troubleshooting for trading systems and algorithms. Requirements: Bachelor's degree or higher in Computer Science, Mathematics, Physics, Engineering, or a related field. Strong programming skills in languages such as Python, C++, or Java, with a solid understanding of object-oriented programming principles. Proficiency in numerical computing libraries such as NumPy, SciPy, or pandas. Experience with version control systems such as Git. Familiarity with database technologies such as SQL and NoSQL. Knowledge of financial markets, trading concepts, and electronic trading protocols. Excellent communication skills and ability to work effectively in a collaborative team environment. Attention to detail and ability to thrive in a fast-paced, high-pressure trading environment. Preferred Qualifications: Master's degree or PhD in a quantitative discipline. Experience with low-latency trading systems and high-frequency trading strategies. Knowledge of fixed income, futures, and equities markets. Experience with distributed computing frameworks such as Apache Spark or Dask. Familiarity with cloud computing platforms such as AWS or Azure. Understanding of machine learning techniques and their application to financial markets. Our client offers a competitive salary and benefits package, as well as the opportunity to work alongside some of the brightest minds in the industry. If you are passionate about quantitative finance and technology, and thrive in a collaborative and challenging environment, we encourage you to apply for this exciting opportunity.

Negotiable
Paris
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LNG Trading Analyst (Python)

Job Title: LNG Trading Analyst Location: Aarhus, Denmark (Possibility of Remote) Company Overview: Our client is a leading energy trading firm specializing in LNG (Liquefied Natural Gas) trading. We are committed to delivering innovative energy solutions while maintaining a strong focus on sustainability and market excellence. Position Overview: We are seeking a highly motivated and detail-oriented individual with a minimum of 3 years of experience to join our team as an LNG Trading Analyst. The ideal candidate will possess a strong analytical mindset, excellent communication skills, and a deep understanding of the LNG market dynamics, including US and continental gas markets. Knowledge of Python programming language is considered an advantage. Responsibilities: Analyze market trends, supply-demand dynamics, and pricing structures in the global LNG market, with a specific focus on US and continental gas markets. Develop and maintain models to forecast LNG supply, demand, and pricing movements. Conduct quantitative analysis to identify trading opportunities and optimize trading strategies. Collaborate with traders and other team members to execute trading decisions effectively. Monitor and evaluate the performance of LNG trades and positions. Stay abreast of regulatory changes, geopolitical developments, and industry news affecting the LNG market. Prepare reports, presentations, and market updates for internal stakeholders and clients. Provide insights and recommendations to senior management based on market analysis and research. Qualifications: Bachelor's or Master's degree in Finance, Economics, Engineering, or a related field. Minimum of 3 years of experience in energy trading, preferably in the LNG market, with specific knowledge of US and continental gas markets. Strong analytical skills with proficiency in data analysis and modeling. Familiarity with programming languages such as Python is an advantage. Excellent communication and interpersonal skills. Ability to work independently and collaboratively in a fast-paced environment. Attention to detail and ability to handle multiple tasks simultaneously. Strong commitment to integrity, professionalism, and continuous learning. Benefits: Competitive salary and performance-based bonuses. Comprehensive benefits package, including health insurance and retirement plans. Opportunities for career growth and advancement within the company. Flexible work arrangements, including the possibility of remote work. Dynamic and collaborative work environment with a diverse team of professionals. Application Process: Interested candidates are encouraged to submit their resume along with a cover letter outlining their qualifications and interest in the position. Please include any relevant experience in energy trading, specifically in the LNG market and US and continental gas markets, as well as proficiency in programming languages. We thank all applicants for their interest; however, only those selected for an interview will be contacted. Our client is an equal opportunity employer committed to diversity and inclusion in the workplace. We encourage applications from individuals of all backgrounds and experiences.

Negotiable
Aarhus
Apply

Quantitative Research & Trading News & Insights

Key Insights into the Quants Market in APAC Image
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Key Insights into the Quants Market in APAC

The quants market in the Asia-Pacific (APAC) region is undergoing dynamic changes, and industry experts are sharing valuable insights gathered from events like QuantMinds. Matthew Tjoa, Head of Quants and Tech at Selby Jennings Singapore, recently attended the QuantMinds 2023 event in London to discuss the trends and challenges shaping the APAC quants landscape. ​Here are some of Matthew's key takeaways from the event, and his advice for companies looking to hire the best talent in quants:Market Resilience in the Face of ChangeHow does the quant space respond to new market regimes, and what is the outlook despite global uncertainties?Despite challenges faced by some major players, the quant finance space remains largely independent of market shifts, and is showing resilience and growth. Larger hedge funds and prop shops are diversifying into new frequencies, strategies, and asset classes, indicating ambitious growth plans for 2024.AI and Machine Learning IntegrationWhat were the main discussions at QuantMinds regarding the implementation of AI and ML in quant research?Discussions at QuantMinds focused on integrating AI and ML into quant processes. While the impact is expected to be substantial, industry experts agree it will take time to significantly affect the sector. Quality data sets are deemed crucial.Hiring Outlook and Regional ConsistencyWhat can hiring managers anticipate in terms of opportunities in 2024?The consensus is that demand for quants will stay high in the coming year. Hiring managers can expect increased opportunities in 2024, with optimism from the sell side. Technical skillsets are being consistently prioritized and are highly sought after, especially in areas like modelling and machine learning. Additionally, the ability to communicate complex ideas to non-technical stakeholders is crucial. Interestingly, these desired skills and qualities in candidates are largely consistent across regions.Hotspots for Quants HiringIn which areas and geographical locations is there a pronounced demand for quants talent?Geographical hotspots for quants talent include London, Amsterdam, Singapore, Hong Kong, Dubai, and Abu Dhabi, particularly for roles in modeling, research, statistical arbitrage, and machine learning. Challenges in Hiring and Candidate PreferencesWhat are the significant challenges companies face when hiring quants talent?One of the major challenges is a lack of understanding of candidate preferences. Failing to comprehend candidates' desires for a conducive working environment, competitive compensation, challenging problem sets, flexibility, or stability can all hinder successful hiring.Candidate Priorities and Decision-Making FactorsWhat factors are critical for quants professionals seeking new roles?Quants professionals most often prioritize compensation, autonomy, and the freedom to explore new ideas. Mid-junior candidates, in particular, are attracted to roles offering optionality in job scope and internal opportunities.Advice for CompaniesWhat is your advice for companies looking to hire quants talent?Companies should utilize their talent partner to attract and secure the most in-demand talent. In a candidate-starved market, talent partners can offer invaluable insights into candidates' motivations and provide guidane on your salary and total compensation packages, reducing the likelihood of missed opportunities and ensuring a more informed hiring process.​If you are seeking additional insights around the APAC Quantitative Analytics, Research & Trading market, please request a call back, and Matthew's team will get in touch with you. Request a call BACKIf you are exploring the next opportunity in Quantitative Analytics, Research & Trading, submit your CV today.

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Revolutionizing Quantitative Research and Trading: The AI Advantage in Financial Sciences

The Importance of AI in Quantitative Research & Trading​Artificial Intelligence (AI) has emerged as a transformative force in the field of quantitative research and trading, revolutionizing the way financial data is analyzed and investment decisions are made. The integration of AI technologies brings about a paradigm shift, offering unparalleled advantages to professionals in the Financial Sciences & Services sector. ​In quantitative research and trading, the significance of AI lies in its ability to swiftly process vast datasets, providing traders and researchers with the capacity to make informed decisions at unprecedented speeds. The utilization of AI facilitates faster data analysis, enabling traders to digest large volumes of information quickly and make intelligent, data-driven choices. This acceleration in decision-making can be a critical factor in the highly dynamic and competitive landscape of financial markets. ​Artificial Intelligence (AI) and Machine Learning (ML) in Quantitative Research​At the core of AI's impact on quantitative research is Machine Learning (ML), a subset of AI that enables systems to learn and improve from experience. In quantitative research, ML algorithms play a crucial role in data analysis and pattern recognition. These algorithms can uncover intricate market trends, providing insights that might elude traditional analytical approaches. The integration of AI and ML in quantitative research enhances prediction models, contributing to more accurate forecasts of market trends and behaviors. ​Big Data and Data Analytics​The marriage of AI with Big Data has redefined the landscape of quantitative research and trading. AI's ability to handle massive datasets in real-time allows for a more comprehensive analysis of market conditions. Through advanced data analytics, AI can identify subtle patterns and anomalies that may be crucial for making strategic investment decisions. The synergy between AI and Big Data empowers professionals in financial sciences and financial services to extract actionable insights from the ever-expanding sea of financial information. ​Natural Language Processing (NLP)​Natural Language Processing (NLP) is a key component of AI that plays a pivotal role in quantitative research. By analyzing and understanding human language, NLP enables AI systems to process vast amounts of unstructured data from sources such as news articles and social media. In the realm of quantitative research and trading, NLP contributes to sentiment analysis, helping traders gauge market perception and make decisions based on the collective sentiment of investors. ​Blockchain and Decentralized Finance (DeFi)​The integration of AI with blockchain technology is reshaping quantitative research and trading, particularly in the era of Decentralized Finance (DeFi). Blockchain ensures transparency and security in financial transactions, and AI enhances the analysis of blockchain data. This combination is particularly relevant in the evolving landscape of DeFi, where decentralized platforms and smart contracts are becoming integral parts of financial systems. ​Interdisciplinary CollaborationAI's impact on quantitative research goes beyond technology; it fosters interdisciplinary collaboration. The collaboration between AI experts, data scientists, and financial professionals leads to innovative approaches in understanding and navigating financial markets. This interdisciplinary synergy results in the development of sophisticated algorithms and models that enhance the precision and efficiency of quantitative research and trading strategies. ​Why Choose Us?​When navigating the transformative landscape of AI in quantitative research and trading, choosing the right talent partner is paramount. Selby Jennings, with 20 years of experience as a trusted talent partner in financial sciences & services, stands as a beacon of expertise in identifying and delivering business-critical talent. Our commitment to staying at the forefront of industry trends and providing bespoke guidance ensures that our clients gain a competitive edge in recruiting the brightest minds in the evolving landscape of quantitative research and trading. Partner with us, and let our award-winning talent recruiting specialists guide you toward success in the era of AI-driven financial sciences.If you are looking to hire talent in this space, please request a call back, and our team will be in touch with you. Request a call backIf you are a professional in this space, submit your CV and start the next part of your career journey with Selby Jennings.Submit CV

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APAC Quantitative Analytics, Research & Trading Salary Guide

Elevate Your Success in Singapore's Thriving Finance LandscapeSelby Jennings presents the APAC Quantitative Analytics, Research & Trading Salary Guide, your indispensable tool for benchmarking your team and yourself in Singapore's flourishing Quants sector. As Asia's finance industry continues to thrive, market leaders and investment funds are converging on both Mainland China and Singapore. This convergence has sparked an insatiable demand for top-tier Quantitative Analytics, Research & Trading professionals, driving compensation packages up.In today's ever-evolving economic climate, Quantitative Analytics, Research & Trading experts play a pivotal role in shaping winning strategies. Their value skyrockets, especially in riskier markets, fueling the aggressive hiring of Quant professionals across Asia.To excel in this fiercely competitive arena, businesses must fine-tune their hiring processes, empower their workforce with advanced skills, and maintain flexibility to attract and retain top talent. Quant professionals should consistently benchmark their salaries against industry standards to ensure they remain at the forefront of their field.

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Southeast Asia Salary Guide 2023

​Stay Ahead in Southeast AsiaDiscover the 2023 Salary Guide for Hiring and Job HuntingDetermine what you should be paying your employees, or how much you could be earning.Stay ahead of the competition with valuable insights into salary trends, bonus structures, and compensation benchmarks across various roles and sectors within the Southeast Asia region. Our comprehensive 2023 Salary Guide is specifically tailored to provide you with the information you need for successful hiring and job hunting in Southeast Asia.Whether you're a professional seeking to understand your remuneration better or an employer looking to attract and retain top talent, our salary guide is your essential resource. With in-depth analysis and up-to-date data, you can make informed decisions that maximize your financial success.Our latest salary guide covers the following sectors:​Investment BankingInvestment ManagementWealth ManagementQuantitative Analytics, Research & TradingRisk ManagementFinancial TechnologySales & Trading

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Surging Demand for Quantitative Roles in the APAC

The Asia-Pacific (APAC) region, home to a diverse mix of economies from China and Japan to India and Australia, has seen a significant surge in demand for Quantitative roles over the past decade. This trend is indicative of the region's mounting appetite for advanced data analytics and algorithm-driven decision-making strategies.Quantitative roles, or "Quant roles," employ a comprehensive array of mathematical and statistical methodologies to interpret complex financial and economic patterns. The application of these skills extends across a range of sectors such as finance, technology, and e-commerce, amongst others.Quant Roles: An IntroductionQuant roles typically involve the application of advanced mathematical and statistical techniques to solve complex problems. This could include creating models to predict economic trends, valuing financial derivatives, creating algorithms for high-frequency trading, and many more diverse applications.The application of these roles is particularly prominent in the financial sector. In Investment Banking, for instance, 'Quant Analysts' or 'Quants' are often sought after for their ability to analyze and interpret complex financial data, create risk models, and use quantitative algorithms to advise on investment strategies.Why the Sudden Surge in Demand?1. Digital Transformation:APAC's aggressive digital transformation agenda is a critical driving factor behind the rising demand for Quant roles. Companies are rapidly adopting data-driven decision-making strategies, which require skilled professionals who can analyze, interpret, and derive insights from complex datasets. In effect, this has increased the need for Quants who can leverage their skills in statistics, machine learning, and data analysis.2. FinTech Revolution:The FinTech revolution in APAC is another significant contributor to the burgeoning demand. The complexity and scale of financial markets in economies like China, India, Japan, and Australia require sophisticated models for risk management, derivatives pricing, and algorithmic trading, thereby expanding the role of Quants.3. AI and Machine Learning Boom:The APAC region has shown a remarkable appetite for adopting AI and machine learning technologies. These fields inherently rely on quantitative analysis, further driving demand for professionals with strong quantitative skills.Challenges and OpportunitiesWhile the demand for Quant roles is escalating, the supply of such professionals is lagging. This mismatch between the increasing demand and the lagging supply of professionals in Quantitative roles results in a significant talent gap in the market. Numerous industry reports and academic studies have pointed out this trend, emphasizing the urgent need to bridge this gap. The shortage of professionals in these roles not only presents challenges but also underlines the opportunities available for aspiring individuals in the APAC region, further emphasizing the importance of addressing this talent crunch.However, this scenario presents significant opportunities. The talent gap can motivate academic institutions and industries to work collaboratively in nurturing and upskilling talent to fulfil this burgeoning demand. There is also a rising trend in the APAC region for professionals to pivot into Quant roles by upskilling through specialized courses and degrees in data science, statistics, and financial engineering.Looking to hire?The expanding demand for Quantitative roles in the APAC region offers significant opportunities amidst the challenges. With an extensive global network and a deep understanding of the financial and quantitative landscape, Selby Jennings is well-positioned to help businesses navigate this talent crunch.Our tailored approach and strong focus on the needs of both businesses and professionals make us adept at bridging the talent gap and connecting organizations with the right Quantitative talent. As businesses continue to leverage the power of data and quantitative analysis, partnering with Selby Jennings is a strategic move towards success in the rapidly evolving digital economy.Given the urgent need for Quantitative professionals and the unique challenges in sourcing such talent, we encourage businesses to contact us or reach out by requesting a call back.

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6 FAQs on Quant Finance Careers  Image
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6 FAQs on Quant Finance Careers

Quantitative Analytics, Research & Trading is currently one of the highest paying fields within Financial Services and has become a much sought-after career option in the industry. With Asia emerging as the world’s fastest growing economic region, it is attracting many new entrants. For professionals building a career in Asia's Financial Sciences & Services industry, it is critical to be forward-thinking and innovative. Employers, on the other hand, must strive to attract and retain top talent. Over the past two years, Asia’s strong wage growth has prompted many Quantitative Finance and Technology experts to consider changing careers, particularly in Investment Banking. In order to remain competitive, banks are making concerted efforts to improve the development of junior managers, with some banks going as far as offering a 10-20% salary increase for Quantitative Engineering roles. Keen to stay up to date with China's Financial Services market updates, exclusive industry insights, and the latest job openings? Follow us on WeChat. Follow us on WeChat.According to Yuqi Ding, Assistant Vice President of Selby Jennings and a specialist in Quantitative talent, “It is difficult to predict the future direction of the talent market in the Quantitative Finance field. Therefore, deciding who to hire, how to hire, and whether it is the right time to find new development space is not a simple matter. At this time, professional talent specialists are particularly important.” Here Ding Yuqi addresses some frequently asked questions regarding current trends. ​When planning a career in the Quant Technology sector, what are the career development objectives I should be focusing on? “The Quantitative industry in Asia generally follows a linear structure, with clear roles consisting of Quantitative Researchers, Portfolio Managers, and Team Leads. “Those with 2-3 years of work experience are deemed to have completed the fundamental entry-level step needed to be recognized as an industry newcomer. Gradually, they amass trading experience or develop strategies in a specific area, to become either a Portfolio Manager or Team Lead, managing investment portfolios and making independent investment decisions with the company's support.” ​After how many years of experience should I seek a new role or progression? “Looking beyond unpredictable macroeconomic fluctuations, the ideal time for a job transition is determined by how well the current organization meets an employee's individual professional goals. For example, Quantitative professionals in sell-side investment banks, who have been there for more than two years, may find it more difficult to switch to a buy-side Quantitative hedge fund. As such, it is important to factor this into the decision-making process. “Meanwhile, Quantitative researchers in a buy-side Quantitative fund, who have been in their role for more than two years, may contemplate a move into portfolio management. For more established, independent portfolio managers however, it is advisable to explore new platforms when their strategies have had a consistent track record for an extended time. “Throughout the process, it is crucial to remain alert to shifts in the talent market. If the current environment prevents you from developing your strategy and launching new products, it would be prudent to pursue an organization with a more accommodating environment to avoid increasing your opportunity cost by staying.” ​What is considered as ‘job-hopping’ to companies that are hiring for Quant & Tech talent? “It is very likely that organizations and talent specialists will overlook applicants with consecutive short-term employments that span less than one year due to their lack of stability. This standard is consistent, whether they are applying to local Chinese hedge funds or firms overseas. “When a job switch was caused by factors beyond their control, candidates can provide an explanation when approaching new opportunities to pass initial screening stages. These can include, for instance, a company's funding problem or a shift in management. “More experienced individuals who have held jobs for a longer period of time can usually excuse shorter tenures earlier in their career. However, for junior applicants who that cannot provide a valid justification for previous short tenured employments, they may be declined an interview altogether.” ​When is the best time to change roles, a) during the year, and b) in relation to my career timeline? “March and April are considered the most opportune seasons for job-seekers in this market, when the majority of job vacancies become available. Therefore, your prospects of finding a new job are more favorable in this period than any other time. “Whilst it is common for Quantitative hedge funds to hire candidates year-round, some even go as far as to create positions for the most suitable applicants they encounter. Therefore, it is recommended that job seekers remain abreast of the current market trends, and engage with the support of professional talent partners to ensure they stay updated with any opportunities. “Those who are working in Quantitative roles or data/algo-related roles on the sell-side that demonstrate enthusiasm for buy-side Quant research opportunities should make the switch as soon as possible, as the longer they stay on the sell-side, the harder it may become to switch career paths.” ​Is it feasible to transition into FinTech with prior experience solely in a pure tech environment (e.g. software)? “Over the past two years, the tech industry has changed immensely, resulting in many software Engineers considering a new path in Quantitative Finance.” “Organizations in this market generally prefer applicants with financial industry experience, however, if an applicant possesses strong technical expertise and familiarity with cutting-edge technologies such as machine learning, deep learning and programming projects, they will likely qualify for a position in funds.” ​What are the current Quant talent hiring trends in the industry? Is now a good time to be looking for new opportunities?Regardless of any challenges in the industry, Quantitative Analytics, Research & Trading is still ripe with opportunities, and Selby Jennings is here to support those hiring, and those looking for new roles for themselves, as a specialist talent partner in FinTech and other Financial Services. Feel free to reach out to our talent specialists and begin a discussion about your career trajectory.​If you are a job-seeker, Register with usand submit your CV to begin browsing our job openings. If you are a client looking to source the best talent, please Submit your vacancyor Request a call backfor an introduction to our hiring services.Stay up to date with China's Financial Services market updates, exclusive industry insights,and the latest job openings by following us on WeChat.Quickly follow us by scanning the QR code with your WeChat app below:​

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3 ways to navigate bidding wars for Quants talent Image
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3 ways to navigate bidding wars for Quants talent

Bidding wars are becoming a regular occurrence in the Quants market. Historically, a Quants professional could have 1-2 competing offers on the table, but nowadays that number is closer to 2-4 offers. There are a variety of non-monetary factors for job candidates to consider when in a bidding war for them, and for businesses wanting to snap up the very best Quants professionals, we have seen the three following steps have the most impact in securing top talent: ​1. The time when issuing an offer  Finance firms are sometimes hesitant to be the first to make an offer, as they don’t want their offer to be leveraged against other competitors. However, here at Selby Jennings we do recommend to businesses be the first to offer in the current market, as it allows a firm to have more control over timelines and positions themselves more strategically, being proactive, not reactive when it comes to acquiring top talent. When a company is the first to offer a competitive package, it bodes well with Quants professionals, and it gives them a positive impression and experience. At Selby Jennings we have had top talent take the first offer that was monetarily lower because the job candidate appreciated that the company was the first to move forward within the range they originally requested. Separately, if the first offer is competitive, it gives financial firms the ability to entice top talent to withdraw from other competing processes and move forward with their offer. This may not always be the case, particularly in a hot market, but it’s definitely worth a try and has helped to avoid a bidding war altogether in some cases we’ve experienced at Selby Jennings. ​2. Establishing a quick, yet fair offer deadlineIf a company is slow to put together an offer, there is a greater chance for a competing offer to arise. It is therefore vital that an official deadline is in place and that offers aren’t sitting for multiple weeks. While you want talent to join your firm of their own volition, the longer an offer is sitting on the table, the more time there is for something to go wrong. It is crucial for finance firms to be proactive here and it is beneficial from the very start to be transparent on how long you expect the process to take. If a company is fair and upfront about their own timeframes (say for example if a hiring manager is on leave which could slow a process), they should expect the same from Quants professional within the process. At Selby Jennings, we recommend setting a deadline for accepting an offer, and also giving professionals the chance to discuss the offer to help further fast-track talent processes. ​3. Regular touchpoints with talentIdeally, businesses hiring will have a few touchpoints following the final round of interviews in order to put their best foot forward with their potential new team member. The first follow-up call after the final interview can include a verbal offer, but an informative call should answer any questions on the backend. A final call serves as a last attempt to sell the firm and role before the decision needs to be made. There could be a few more calls depending on the type of position, but we recommend coffee meetings, dinner or something similar, as the personal touch is very important. We advise firms to issue an official (written) offer within 48 hours (ideally 24) after giving a verbal offer and adding a 7-day deadline. This shows commitment while at the same time signalling that you aren’t willing to wait forever. As innovation and new technologies move the financial services industry forward, there is an increasing technical demand for quantitative research & trading professionals that make it harder for firms to find the right talent.With nearly 20 years of extensive experience and a well-garnered client network, Selby Jennings has unrivalled expertise to secure the brightest minds from systematic traders, modellers, developers, portfolio managers, to risk analysts. We shape the talent landscape and influence the trajectory of growth for global investment bankers, boutique hedge funds, management consultancies, software providers, and everything in between. Connecting top professionals with industry-leading opportunities, while providing complementary market research and insights, we harness our network and pair our expertise with advanced technology to secure Quants talent with speed, accuracy, and a reach that spans three continents.​Looking to speak to someone on the Quants team?REQUEST A CALL BACK​Search the latest Quants roles:VIEW JOBS HERE​

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Oliver Cooke joins panel on diversity at QuantMinds International Image
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Oliver Cooke joins panel on diversity at QuantMinds International

​​We are delighted to announceOliver Cooke, Managing Director of North America, will be speaking at QuantMinds International. Taking place in Vienna on 13-17 May, QuantMinds International is now in its 26thyear and is the world’s leading quant finance event. 400+ experts from banks, buy-side, regulators, Silicon Valley, academia and beyond join together to learn, network and share expertise on the biggest issues facing the industry. Hear the latest breakthrough research and latest technical case studies from some of the world’s most revered quant thought-leaders.Oliver will be on the much-anticipated panel,Diversity in Quant Finance: Examining the Route to Progress, to discuss how our clients attract, retain and develop diverse talent. Last month, QuantMinds International shared that only 8.3% of quant professionals globally are women. Oliver will joinJessica James, Managing Director atCommerzbank;Katia Babbar, Founder of AI Wealth Technologies; andBirgit Rudloff, Professor of Mathematics for Economics and Business atWU.“Quant is one of the areas where diversity is lacking in regards to female talent,” said Oliver Cooke about the industry. “We’ve seen some progress in recent years, but there’s still a lot of work to do. Every single one of our clients is concerned with improving the diversity of their workforce, particularly now that there’s a wider consensus thatdiverse teams produce better results.”Registration for the event is now open. Enjoy an exclusive 15% discount. Click 'learn more' below to book tickets.--------------About UsSelby Jennings is a leading specialist recruitment agency for banking and financial services. For more than 15 years, we have given clients and candidates peace of mind that the recruitment process is in expert hands. Our continual investment in best-in-class technologies and consultant training enables us to recruit with speed, precision and accuracy. Today, Selby Jennings provides contingency and retained search recruitment across 11 offices in 6 countries. Contact us to find out how Selby Jennings can help you.

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Why Creativity is Key to Attracting and Retaining Quantitative Talent Image
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Why Creativity is Key to Attracting and Retaining Quantitative Talent

​​The rivalry for talent in quantitative research is extremely competitive, and banks are finding that the promise of a large pay check is no longer enough to lure the brightest quantitative minds. As more quantitative analysts leave the financial sector in search of more innovative opportunities, many banks have come to the realization that it is time for a change. If banks want to attract and retain the top quant talent, they need to be more creative with what they can offer.The Rise of the QuantQuants talent is in high demand; not only by banks looking to make the most of their data, but also by hedge funds, fintech companies, and tech firms.  In an article featured in the Wall Street Journal, Luke Ellis, CEO of Man Group, explained just how fierce the competition has become: “Google is trying to hoover up every data scientist in the world. Google has got more money than I have. I can’t compete with Google just on that.” So What Do Quants Want?While quants may be able to command a high salary, that does not mean they are all driven solely by compensation.For quants looking to progress their career, banks are not always the most tempting option. Even though the days when investment banking was full of aggressive traders are behind us, most banks still lack the academic research opportunities that other companies can offer to quants.In contrast, many tech giants not only have the innovative, creative appeal that many quants are drawn towards, but they also are fully engaged with academia. Google, Microsoft and Facebook, for example, all churn out a large number of research papers every year, which is not common in banks.  However, in order to compete, some banks and hedge funds are starting to pitch themselves as research centers where employees are able to work as a team to solve problems and publish original research.Man Group, for example, financially backs a quantitative research laboratory at Oxford University. Since they are eager to tap into quants’ preference for a more collaborative work culture, the hedge fund has also made its trading data accessible to the public. Man Group is just one company thinking more creatively about how to attract and retain quant talent, and many others are testing similar strategies.If the Price is Right…While not necessarily top of a quant candidate’s wish list, salary remains a fundamental part of any employer’s offer.With the right experience and a good Masters or PhD, quants can earn in the region of $150,000 to $200,000 from the start of their career. According to some sources, tech giants also front-load pay to their top quants, giving them $150,000 to $200,000 in stock over five years – thus making it much harder for those employees to go elsewhere.With banks and hedge funds often paying their traders double these figures, they have to rethink the allocation of salaries across the organization. It has been reported that some quants on Wall Street feel that they are ‘second-class citizens’ compared to investment bankers or hedge fund managers, due to the difference in compensation. This perception needs to change if banks hope to be an employer of choice for quant candidates in the future.The Battle for Quant TalentThe nature of quant work is challenging. It uses a complex blend of math, finance and IT to generate profits and reduce risk. Top talent will have years of rigorous study and experience under their belts. It stands to reason that the environment in which they do this should also be as challenging, motivating and inspiring.But this means that banks are faced with a quandary: how to create a culture that is desirable to quants?The starting point is to create an environment that is more conducive to supporting the research quants wish to pursue. In the same way Google used to encourage employees to spend 20% of their time on their own passions – for quants, the solutions they are building are more motivation than a large paycheck. Giving them time to explore and invest in their research may help with retention efforts.Google may have cancelled its policy, but other firms are finding similar policies are working for them. LinkedIn, Apple and Microsoft each have their own versions, offering employees the chance to work on their own projects and ideas, an opportunity that is enticing for quant talent.Other firms need to follow suit and make their own adjustments – not only to their recruitment strategies but to their wider company culture and values as well.To learn more about strategies for attracting and retaining top quant talent, get in touch with Selby Jennings today.--------About UsSelby Jennings is a leading specialist recruitment agency for banking and financial services. For more than 15 years, we have given clients and candidates peace of mind that the recruitment process is in expert hands. Our continual investment in best-in-class technologies and consultant training enables us to recruit with speed, precision and accuracy. Today, Selby Jennings provides contingency and retained search recruitment across 11 offices in 6 countries. Contact us to find out how Selby Jennings can help you.

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Hiring Algorithm/Quant Researchers on the Buyside Image
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Hiring Algorithm/Quant Researchers on the Buyside

​​Buyside trading desks are showing considerable interest in hiring skilled algorithm and quant researchers. What is driving this trend, and what skill set do these in-demand professionals require?Why are buyside firms looking to recruit?Hedge funds and other buyside firms are facing pressure to cut their fees. For example, London-based Brevan Howard, which runs a $14.5bn flagship fund, recently announced that it would waive its management fee from this December. A 20% performance fee will still apply.This fee-cutting drive means one thing: funds need to be more efficient to deliver returns. This is where algorithm and quantitative researchers come into the picture: they create systems to help investment managers make smart decisions that deliver healthy returns, with accompanying healthy percentage fees.In the hedge fund world, only around one third (35%) of funds tracked by Preqin continue to use a traditional ‘2 and 20’ fee structure – 2% management fee, 20% performance fee. Both of these fees have been dropping, with some companies opting to waive some fee types altogether.Why volatility is translating into lower feesThe market is facing a good deal of volatility at the moment, with global events such as the US Presidential election and the Brexit vote in the UK causing uncertainty and concern. The market can fluctuate unexpectedly from day to day or month to month, causing nervousness among investors.In this environment, the buyside companies that can offer the best products are those that can best assess risk within the market. Developing strategies to analyze and manage risk means funds can still provide attractive returns and competitive rates.The power of dataAccording to a recent report by Tabb Group, hedge funds are now investing in extending the scope of their analytics capabilities from conventional transaction cost analysis to routing logic for ATS’s and monthly data and summary statistics.Many trading desks are ill-equipped to manage this additional functionality, with a small number of well paid, highly experienced quantitative analysts rather than a team of quants with varied levels of skill and experience. Firms are scrambling to hire more quants to help boost their abilities in this area.Tasks being taken on by algorithm and quant researchersThe new professionals being hired by buyside firms are tackling a number of different areas for their employers. Firstly, internal processes are a major focus. While external performance is often scrutinized closely, internal processes can also be inherently wasteful, but tend to receive much less attention. Process improvement involves looking at issues such as post-trade processing, workflow efficiency and trading costs.Automation is also a major trend. Firms are automating more elements of their trading practices, meaning that less involvement from managers is required so cost reductions can be achieved. Technology projects to consolidate order management systems are also a major feature of the sector.Which skills are in demand?Buyside firms are keen to recruit enthusiastic candidates with a relevant qualification, such as an advanced degree in physics or mathematics. Candidates should have experience in general asset management, particularly on the buyside within an internal execution or proprietary trading team. For example, experience of working on a trading desk which generates large revenues, or is responsible for trading efforts of the firm, is much in demand.Skills in C++, Python, and market microstructure algorithms are also essential for candidates looking to work in this field. Specifically working with strategies around VWAP, TCA, Pre-trade, Post-trade, etc are seen as valuable skills as these strategies require not only the quantitative + programming skills, but also the qualitative market microstructure knowledge of why securities move the way they do. There is scope to move into the buyside from the sellside if candidates wish to do so and have the right attitude and experience.To learn more about this trend and how it might affect you over the coming months, please reach out to Selby Jennings for an informal discussion.---------About UsSelby Jennings is a leading specialist recruitment agency for banking and financial services. For more than 15 years, we have given clients and candidates peace of mind that the recruitment process is in expert hands. Our continual investment in best-in-class technologies and consultant training enables us to recruit with speed, precision and accuracy. Today, Selby Jennings provides contingency and retained search recruitment across 11 offices in 6 countries. Contact us to find out how Selby Jennings can help you.

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Compensation Trends in Quantitative Risk Image
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Compensation Trends in Quantitative Risk

​​Overpaying for Junior PhDsAs recruiters within the Risk Analytics space, we come across PhD candidates wanting to take the next step in their career on a daily basis. On the other side of the spectrum, our clients are increasingly demanding for junior to mid-level candidates to have PhDs (2-5 years of experience) across all areas of quantitative risk.Because this space is becoming competitive, retaining strong candidates is increasingly difficult given the plethora of risk opportunities available, some firms are dishing out eye-popping base salaries, whether to a junior PhD moving into a new role or paying them a large amount right off the bat. The idea behind this tactic is that by giving them such a large base salary, it will likely price the candidate out of other opportunities for the next 2 – 3 years if they decide to look externally – and many of them will get to the offer stage if they do. For many firms that employ this technique, it’s working.Why PhD candidates are so highly sought after                          There’s no doubt that pursuing and receiving a PhD requires a strong passion for your field of choice. It also says that you are willing to put in an extensive amount of hard work. Many dissertations require students to dive much deeper into mathematical/statistical theories than someone who only has a Master’s, and work with those theories for a longer period of time as a PhD can take up to 5 years to complete.While on a meeting with a renowned name in the Risk Modeling industry, we recently inquired as to why PhDs are special. His response was that PhDs have a much easier time looking at models and formulating their own opinions on the models in a well-thought out manner, which is something very important within model validation – the space that has seen the largest growth in recent years.He explained that “Masters” validators had a higher tendency to regurgitate what the developers say – which leads to the second line of defense in the modeling process being trivialized. Models that have their assumptions and design severely challenged that still end up getting approved are likely to be very useful models. Models that are not thoroughly critiqued have a much higher rate of model failure and end up having to be redeveloped or put in the archives of the model inventory never to be used again.Geographical Trends                                                              There is no doubt that the financial hub of the US, arguably the world as well, is New York City.  We talk to countless candidates everyday that say their main reason for looking is that they want to get to New York, especially the more junior candidates. They likely took an opportunity that would allow for them to gain the 1 – 2 years of experience necessary to be considered a valuable Risk candidate and then want to take those skills to New York – this is common across both Masters and PhD candidates.For this reason, overpaying for fresh PhDs is most common amongst regional banks in the South that lose junior PhD candidates all the time for opportunities in New York. Satellite offices of major banks in the South are much less guilty of this. If PhD Candidate X has one year of experience and is getting paid a $125k base in a Southern state where the cost of living difference can be up to 40% cheaper than NYC, and they go to apply to an NYC position they will likely expect a cost of living increase to be accounted for in their new compensation figures and therefore will price themselves out of the opportunity. This candidate might expect a $145k to $150k base salary in New York – something that will enable them to maintain a similar standard of living however is a range justifiable for candidates with more years of experience.Note: This is not only common to the South, as we have seen this tactic also employed on the West Coast and Mid-Atlantic region in cities such as Charlotte and Washington DC.For a VP Model Validation role in New York (5 – 7 years of experience expected minimum), a competitive compensation range starts at $150k (and generally will go up to $180k). It is extremely hard for compensation teams and HRs to justify giving Candidate X with one year of experience a VP title as well as a $150k base when the requirements for the role are much higher and there are other candidates out that with many more years of relevant experience.  At the same time, an Associate level role in NYC seeking candidates with 1 – 3 years of experience, will probably max out at $120k (and that’s if they are generous) – which would mean a lateral or potential cut for a PhD Candidate. AVP level roles will go up to about $135k – which does not provide much room for a salary increase to give someone such as Candidate X an incentive to move. We have sent candidates based in the South with similar profiles to clients in the Northeast and gotten feedback along the lines of, “We love this person’s profile but we can’t put them through an interview process as they are being paid too much for their years of experience.”Our advice to clients who are eager to hire junior PhDs with relevant experience, either be willing to pay, be willing to consider Master’s candidates from strong programs, or be willing to spend time on a search in order to find a candidate in the right situation.What is your PhD in? How is this viewed by the market?PhDs in Theoretical Physics tend to be considered the most brilliant and end up being the most successful.PhDs in Statistics generally tend to interview well as many technical questions in interview for risk modeling jobs are focused around statistical techniques and methods. We have seen these candidates slip up on simple statistical questions in interviews – nothing is a givenPhDs in Econometrics follow closely after that but it depends on how statistic-focused their coursework and thesis was.PhDs in Mathematics or Applied Mathematics come afterPhDs in Economics generally do not add a great deal of value since many times they are focused on theory and financial markets from a more qualitative standpoint – however there can easily be exceptionsDesired Skills in the Current MarketWholesale Credit Risk Model Development and Validation – This has been a major area of growth for small banks, medium sized banks, and the largest investment banks in the world. Credit Risk Model Developers and Model Validators that have wholesale PD/LGD experience focused on C&I portfolios and CRE portfolios are likely to find open positions hitting all levels from Associate to Director.  C&I portfolios can be particularly complex so candidates with strong risk modeling skills that can also understand the business aspect of these portfolios will have a significant edge over their competition.Front Office Operational Risk – There has been a trend within Operational Risk to expand its scope from being a back office function to a firm-wide staple. A specific area of expansion has been into the front office. Candidates that can develop, implement, and execute a full RCSA framework across Sales & Trading desks are highly coveted. Ops Risk candidates that have experience covering Investment Banking functions such as M&A, debt & equity capital markets are also in desire, but not nearly as much as S&T considering that split second decisions or errors can have an immediate negative impact resulting in immense losses for banks.VaR, IRC, CCAR – Investment banks hiring within market risk have had a common type of profile they are looking for, mainly across the AVP/VP level. This being VaR Modelers that have both IRC (Incremental Risk Charge) and CCAR experience. This type of modeling is prevalent across all investment banks, both US and European.Model Risk Audit – This is a third line of defense in the modeling process, and is relatively new. These roles fall within the audit space because they follow an audit process, however the work required for these types of roles are generally fairly quantitative, as they require independent testing of model development and model validation processes. Candidates with model development or validation experience can generally do this type of a role. Hiring within this space has spanned from the Associate to Director level as many banks are looking to build out these teams to bolster their model risk processes. Some firms have teams that specialize in auditing certain kinds of models (market vs. credit) and some firms have model audit teams that are more generalist and oversee all kinds of risk models. If a candidate who has credit risk modeling experience would like to gain market risk experience, I would recommend that they look into some of these kinds of roles as they can likely be qualified for the role while still having the opportunity to gain exposure in models they have not worked with before.---------About UsSelby Jennings is a leading specialist recruitment agency for banking and financial services. For more than 15 years, we have given clients and candidates peace of mind that the recruitment process is in expert hands. Our continual investment in best-in-class technologies and consultant training enables us to recruit with speed, precision and accuracy. Today, Selby Jennings provides contingency and retained search recruitment across 11 offices in 6 countries. Contact us to find out how Selby Jennings can help you.​

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