Risk Management Compensation

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What does risk management compensation look like for quants? And what is a typical career progression for quants at a bank?
Today we're using Selby Jennings risk report from 2022 to get an idea of what compensation will look like for quants at a bank in a variety of finance cities.
Risk Report:
www.selbyjennings.com/risk-ma...
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Опубликовано:

4 июл 2024

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Комментарии : 23

@kalintibbitts8351 5 месяцев назад

Super helpful to see where quant hubs are outside of NY and SF 👍🏼👍🏼 two thumbs up

@DengueBurger 5 месяцев назад

I was surprised to see Tampa lol

@ABSTRACTSHNITZEL 5 месяцев назад

Hey Dimitri, have you ever thought about making a video about the GRE? You mentioned you scored really well, so perhaps you could provide some tips about the test, how important you think it is, whether you think one should take it even if not required for a masters program, and when and how much time one should spend studying for it. A similar video could possibly be made for letters of recommendation and a statement of purpose too.

@MehulMehta-Quant 5 месяцев назад

Amazing ❤

@jammy1541 5 месяцев назад

Hi Dimitri just got an offer for MSc Statistics but doesn’t contain a lot of finance specific courses, is it expected to learn this specific modelling on the job or before interviews?

@KP-GG61 4 месяца назад

Hello Dimitri, question from a MFE candidate. I was curious to see what a Jr. Quant Researcher at Agora Data is working on and how this position contributes to your team. I understand this position was filled recently and was interested to see what a young quant in fintech is responsible for. I know that you can't get specific due to legal reasons but I think it would be a cool video topic if you're able to talk about it.

@Welcome2TheUnknown 4 месяца назад

Wonder how much UBS is offering.

@drewstonestrom1231 5 месяцев назад

I’m thinking about going into a quant masters from a physics undergrad (currently a junior). Should I have an idea of what sort of quant I want to be before going into grad school? Or is it more common for people to discover their niche while in their masters program?

@DimitriBianco 5 месяцев назад

You're ahead of the game even thinking about it. Almost no one knows exactly what they want to do or that there are actually a variety of jobs within the quant space.

@nickh7681 5 месяцев назад

I got offered the graduate rotational program role at a big bank in NYC. The base was 85, and the program was for two years. I turned it down because during the interview process, they also interviewed me for an ALM manager role (which required 3-6 years experience, and I didn't get because I didn't know the first thing about finance at the time). During that interview, he told me that the risk job lacked any real math. It was mostly reporting. I'm essentially a desk quant for a unique firm now. Is quantitative risk essentially just reporting? Or was that what the rotation program would have been like? Or did I somehow accidentally apply for a non-quantitative risk job?

@DimitriBianco 5 месяцев назад

That job would be called governance which is also a risk job but for business people as they just do reporting. The quants build or validate models and then governance does the reporting of all that activity. So yes, you interviewed for a non-quant job within risk. There is also an area called ERM (enterprise risk management) which is non-quant but a large department within risk.

@nickh7681 5 месяцев назад

@@DimitriBianco Ah, I see, I see. There's a million textbooks on SDEs, but none on the taxonomy of these roles. Thanks!

@adammusic2821 5 месяцев назад

🤩🤩🤩

@rnskfamily7672 5 месяцев назад

Citi and JPM chase alone will skew data. Smaller companies pay a lot more than those two.

@Simba365 5 месяцев назад

Would I need to get another masters to be considered for these type of roles ? I have an undergrad in engineering and almost done with a data science masters but I dont think that would be enough to prepare me for an entry level role

@nipo2540 5 месяцев назад

It would be enough. There's no degree that will prepare you perfectly for this type of stuff. I have a master's in mathematics and I'm doing fine. The barrier to entry is much lower for risk management vs investment-side quant

@Simba365 5 месяцев назад

@nipo2540 OK I was thinking about quant finance because the work seems interesting and not boring like some data analyst jobs. I also want to know how money works at a bank and the entire banking system which led me to this channel. Don't care about the money as long as I'm making above $120,000 I can be satisfied not trying to be a millionaire just want to do something quantitatively challenging or at least interesting

@Amakeyu 5 месяцев назад

Wait so (Total Comp.) represents [compensation + base] or just [compensation] ?

@DimitriBianco 5 месяцев назад

Total comp is salary and bonus.

@Amakeyu 5 месяцев назад

@@DimitriBiancoI see a lot of street interview videos of software engineers claiming they make 200k-300k or so, do software engineers really make more than quants working at financial institutions?

@DimitriBianco 5 месяцев назад

@Amakeyu those are often outliers. I've heard of hedgefunds starting someone in the same range however there are a lot of factors such as where you live (Silicon Valley), your education and school, your age, and often personal contacts. That being said software engineers are paid very well.

@danibg2315 4 месяца назад

@@Amakeyuthis is also a total comp number with stock most likely. But long story short if you're at a top company in either finance or tech you can eaisly make 200k+ total comp to start.

@rnskfamily7672 5 месяцев назад

No wonder jobs move out of New York and will continue to do so for the foreseeable future. Those new york salaries may get you living as a single person not enough for families. You will be crushed in the new jersey new york subway and expect 16 hr days to earn those low salaries in NYC. RUN.. Those salaries are great if you are Jewish and have an ancestral home and not have to worry about high real estate cost in NYC. Others RUN and never look back.