Hedge Funds Hungry for Quants

If you’re looking to land a job at a hedge fund, polish up your algorithm building and data mining skills to get to the front of the line. This according to a recent Bloomberg article that explains how hedge funds are hiring quants “like never before in search of an answer to lackluster returns.”

King Street Capital Management and Tudor Investment Corp. are among the names anxious to beef up their data analysis and research operations, according to Michael Karp of New York-based recruiting firm Options Group (who has been working in the industry for 25 years).

And these jobs can pay a pretty penny. According to the article, entry level salaries can range from $80,000 to $150,000. Clayton DeGiacinto, founder of $2.8 billion hedge fund Axonic Capital in New York, says “Our data needs for fundamental analysis are massive.” But these funds might have to ramp up their allure to attract talent since many candidates prefer the casual atmosphere of tech firms. Jeanne Branthover, partner at New York-based recruitment firm DHR International, says, “In Silicon Valley, you have a cool factor. Hedge funds need to change their culture to catch-up.”