What Separates a $500k Quant Year From a $5M One
A breakdown of the three variables that move a quant from the salaried tier into an eight-figure year
Most quants assume the gap between a $500k year and a $5M one comes down to being sharper than the person next to them. The compensation math points somewhere else, and today’s piece walks through exactly where.
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A quant statistical-arbitrage book returns roughly 2% to 4% on GMV regardless of who runs it, which means the figure that actually moves your final number is the capital sitting behind the seat. Below, the full breakdown covers the pod math, the 10% to 30% payout range, and the drawdown rules at Millennium, Citadel, and Point72 that decide how long anyone keeps a book.
