Bank technologists can earn $720k. How about quants?
If you’re technologically-minded and want to work in finance, there are really two career options for you: either get into the whole quant thing, or stick to normal bank technology. If you’re interesting in being paid well, you might be surprised at which one is better.
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Our Compensation & Lifestyle Report 2026, which was based on a Q1 survey of over 2,700 financial services professionals, included responses from hundreds of professionals working in technology and quantitative finance roles.
The best news was for the industry’s technologists. Although pay was low for junior ranks – $67k on average for analysts and $86k on average for associates – pay for more senior roles such as directors and managing directors was $620k and $720k on average, respectively.
Quants that replied to our survey did not earn so much. Associate and VP quants significantly out-earned their peers in technology – more than three times as much, in fact – but quant directors in our survey only earned average total compensation of $350k, compared to technology directors who earned average compensations of $620k.
There are a few reasons for the disparity. Quants are generally paid very well, yes, and don’t suddenly get paid less above a certain rank. The reality is that many gravitate towards specialist firms such as prop trading firms or massive electronic trading firms such as Jane Street. Our report only reflects pay for quants on the sell-side (in banks) and doesn't cover quants at trading firms.
Another reason is that senior quants are in a muddy position. Many of them likely see themselves as market makers or traders rather than pure quants unless they are quant developers, who earn significantly less than quant researchers.
Senior technologists are few and far between, too. One a technologist is senior enough to be promoted to managing director, they likely have substantial responsibilities and budget to go with their position.
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