• Wed. Apr 17th, 2024

Unlocking the Secrets to High-Paying Data Science Jobs in Financial Services: A Global Perspective on Salaries and Compensation

BySamantha Jones

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

When it comes to high-paying data science roles in financial services, not all jobs are created equal. While hedge funds and trading firms are typically the top places to work, there is still potential to earn substantial money at banks or fintech companies. A new compensation report from recruitment firm Selby Jennings provides insights into data science pay based on seniority, industry sector, and region.

Selby Jennings’ study delves into the pay for data scientists in seven additional locations across the US and Europe, offering a comparative analysis of average salaries for analysts in each region. According to the report, 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.

Our forthcoming 2024 compensation report, set to be released this Friday, reveals that the average total compensation for a managing director-level position (with 15+ years of experience) in a hedge fund is $777k. The report also highlights that data scientists can earn between $1m and $2m on average, potentially nearly three times the average compensation for senior hedge fund employees.

For junior data scientists in Europe, Switzerland emerges as an attractive location, according to Selby Jennings’ data. French data scientists working in banks generally earn more than their German counterparts, whereas the opposite is true on the buy-side. The pay for junior data scientists in London banks appears notably low, with entry-level data scientists in New York earning three times as much, and twice as much on the buy-side.

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By Samantha Jones

As a content writer at newsnnk.com, I weave words into captivating stories that inform and engage our readers. With a passion for storytelling and an eye for detail, I strive to deliver high-quality and engaging content that resonates with our audience. From breaking news to thought-provoking features, I am dedicated to providing informative and compelling articles that keep our readers informed and entertained. Join me on this journey as we explore the world through the power of words.

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