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Algorithmic Trading Salary: Algorithmic Trader vs Quant Developer

Algorithmic trading salary is not uniform for all jobs in the sector. It changes with the relevance of their roles. In this article, I’ll walk you through the salary differences for various algo trading jobs in the quantitative trading sector.

Algorithmic Trader and Quant Developer: Who are they? What are their Roles?

Algorithmic Trader

A professional is called an algorithmic trader if he/she designs algorithms to generate trading signals and also to place orders in the financial market (it can be stocks trading, forex trading, or cryptocurrency trading). It is assumed that each algorithm has access to prices (both current and historical) of instruments.

The buying and selling decisions are dependent on the computations carried out by the algo with the help of the price information. Orders may also be split into small pieces by the algorithm so that their execution can be done at different times for getting the best possible prices.

Quant Developer

The profession of a quant developer needs a programmer to develop digital solutions for the quantitative trading and finance industry. Such a developer must be knowledgeable in a wide range of topics including mathematics, data structures, algorithms, and advanced finance. Complex mathematical computations, as well as quantitative analysis, are used by a algorithmic developer for creating algorithms for trading purposes.

This job role is most suited for:

  • Investment banks
  • Hedge funds
  • Brokerage services
  • Financial securities companies

What is the Algorithmic Trading Salary of an Algorithmic Trader and a Quant Developer?

Let me start by giving you an idea of the average algorithmic trader salary in different countries across the world:

  • United States: US$112,816
  • United Kingdom: £63,029
  • Canada: C$76,768
  • Australia: AU$105,851
  • Singapore: S$94,817
  • Hong Kong: HK$636,632
  • India: Rs. 1,036,126

The above mentioned are the algorithmic trader salaries in different countries. Now, let’s have a look at the average base salary of quant developers in different countries across the world:

  • United States: US$1,24,072
  • United Kingdom: £93,054
  • Canada: C$87,525
  • Australia: AU$57,538
  • Singapore: S$1,60,000
  • Hong Kong: HK$1,000,000
  • India: Rs. 1,084,000

This shows how the salaries in the algorithmic trading domain changes in accordance with job titles.

What are the Educational Qualifications of an Algorithmic Trader and a Quant Developer?

Educational qualifications of algo traders and quant developers vary significantly despite the fact that both of them need programming knowledge. While an algorithmic trader will be benefited from knowledge on subjects such as finance and economics, a quantitative developer should have a degree in computer science along with a professional level of coding knowledge. For an algo trader, basic programming knowledge is enough.

As a quantitative developer has to code the algorithms to execute the trading strategies (which are in turn developed by algorithmic traders), a quant developer must have knowledge of a coding language. Some of the most popular programming languages suitable for quant developers are:

  • Python
  • C++
  • R
  • Java (Java developer)

In addition, you must know certain tools if you want to be a quant developer such as:

  • Blueshift
  • Quant Lib
  • JQuantLib

While a quantitative trader designs electronic trading strategies, a quant developer codes or programs the algorithmic trading strategies in software for the automated trading experience of traders. Reports say that the algorithmic trading domain is expected to increase from US$11.1 billion to US$18.8 billion during 2019-24. So, this is the right time for you to get into this industry to experience a comfortable life.

In addition to algorithmic trading jobs, some other job titles that are in high demand are:

  • Software engineering
  • Software development professional
  • Machine learning expert
  • Artificial intelligence expert
  • Java developer job requirements and other relevant job types

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