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2021 Quant Rankings

The ranking is constructed from independent sources, here we make the assumption that the data is trustworthy. The score is summarized below. To study the data points, simply enter the table Masters in Finance Rankings , the code is fully reproducible, see the →Ranking Methodology drop-down, we also include the scrapers used to collect the data and an easily accessible notebook.
Overall=ReputationScore×1/3+RemunerationScore×1/3+QualityScore×1/3\textbf{Overall} = Reputation Score \times 1/3 + Remuneration Score \times 1/3 + Quality Score \times 1/3
Table
University/institution
Final
Quality
Remuneration
Reputation
Princeton University (Bendheim Center for Finance)
Open
0.75
0.88
0.43
0.93
ETH Zurich/University of Zurich
Open
0.7
0.99
0.41
0.7
New York University (Courant Institute of Mathematical Sciences)
Open
0.69
1
0.24
0.81
Columbia University (Columbia Engineering)
Open
0.69
0.58
0.5
0.98
New York University (Tandon School of Engineering)
Open
0.67
0.99
0.31
0.7
Cornell University
Open
0.6
0.61
0.38
0.82
University of Toronto
Open
0.59
0.68
0.33
0.75
Carnegie Mellon University
Open
0.57
0.28
0.51
0.92
University of California, Berkeley (Haas School of Business)
Open
0.56
0.1
0.58
1
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Ranking Methodology

Graduate Employment

= Company offers role and applications are open → quant prep for more details.
= Company offers role but applications are not open yet
SWE = Software Engineering or Quantitative Development
QR = Quantitative Research
QT = Quantitative Trading
Table
Company
Location
Notes
QR
QT
SWE
Status
TransMarketGroup
Open
Chicago
✔️
✔️
Citadel Securities
Open
Chicago, NYC
The market making arm of Citadel. The general perception is that the culture tends to be better at Citadel Securities vs Citadel LLC.
✔️
✔️
Applications are open for the QR role!
Belvedere
Open
Chicago
✔️
✔️
Ansatz Capital
Open
NYC
Similarly to Aquatic, Headlands and Radix, a small but prestigious firm that is willing to pay more than most competitors. Fairly young firm. Uses Python and C++ for QR.
✔️
✔️
Millenium
Open
NYC
✔️
Aquatic
Open
Chicago
Aquatic also has a Research Engineer position here.
Applications are open year-round.
Engineers Gate
Open
NYC
✔️
Marshall Wace
Open
NYC
✔️
XTX Market
Open
London
Branched out of GSA capital.
✔️
Wolverine
Open
Chicago
✔️
G-Research
Open
London
Also hires people out of the US. Very focused on research with a lot of people working on cutting-edge Machine Learning.
✔️
✔️
TGS
Open
Irvine
Used to only recruit grad students but recently started recruiting undergrads as well.
✔️
DE Shaw
Open
Where Jeff Bezos worked before founding Amazon. Tends to be extremely school-selective, mostly recruiting from ivy leagues and similar.
✔️
✔️
✔️
Renaissance
Open
Setauket- East Setauket
The legendary OG quant fund (medallion). Good luck with this one. You can email your resume and they do interview normal SWEs sometimes but it's very unlikely you'll get an interview for any other role unless you're extra-extraordinary.
✔️
✔️
Valkyrie Trading
Open
Chicago
✔️
Jump
Open
Chicago
Fairly school-selective recruiting. Very engineering-focused with siloed teams.
✔️
✔️
Mako Trading
Open
London
Expressions of interest open.
Headlands Tech
Open
Chicago
Founded by ex-Citadel people. Max Dama works here. Similarly to Ansatz, Aquatic, Headlands and Radix, a small firm that is willing to pay more than most competitors. Known to have a large focus on C++, both among QRs and SWEs.
✔️
✔️
DRW
Open
Chicago
Perception is that DRWers tend to have a good WLB but teams are usually siloed. One of the first traditional firms that started going into crypto.
✔️
✔️
✔️
WorldQuant
Open
NYC
✔️
✔️
Citadel
Open
Chicago, NYC
The hedge fund side of Ken Griffin's Citadel. The quants are mostly on the Global Quantitative Strategies team (GQS).
✔️
Applications for QR and QT are open!
Flow Traders
Open
Amsterdam
Primary focus is on ETFs. Pay tends be lower than IMC and Optiver but the office is NYC instead of Chicago.
✔️
✔️
Only offers internships in Europe.
Five Rings
Open
NYC
Founded by an ex-Jane-Street guy. Very school-selective, mostly recruiting out of MIT.
✔️
✔️
✔️
SIG
Open
Bala Cynwyd
Has a huge poker culture. Fairly chill culture but pay tends to be on the lower side.
✔️
✔️
✔️
Two Sigma
Open
NYC
Founded by ex-DE-Shaw people. Collaborative and chill culture. The org is mostly composed of QRs and SWEs. More of a quant hedge fund, with a a smaller market making arm and a venture capital team.
✔️
✔️
Radix
Open
Chicago
Founded by ex-Citadel people. Radix calls SWEs Quantitative Technologists. They don't publicize internships but they do select a handful of interns every year. Just email your resume. Rumor is that they offer the highest internship salaries. Culture is likely most similar to Renaissance.
Applications are open year-round.
Akuna
Open
Boston, Chicago
Founded by ex-optiver traders. Meritocratic culture where people are promoted quickly. On the flip-side, stress levels and pressure tend to be on the higher side. Also try to have competing offers otherwise they might low-ball you.
✔️
✔️
✔️
Old Mission Capital
Open
Chicago, NYC
✔️
✔️
Allston Trading
Open
Chicago
✔️
Squarepoint
Open
NYC
✔️
Optiver
Open
Chicago
Tends to have the highest pay out of the three big dutch firms (IMC, Optiver, Flow Traders) due their marble bonus system. Larger focus on traders. Traders generally tend to earn considerably more than SWEs at the Dutch firms, especially over time. QR roles are open for their Delta One team, mainly grad students.
Expressions of interest open.
GSA Capital
Open
NYC
✔️
Jane Street
Open
NYC
Founded by ex-SIG people. Tends to be more school-agnostic than other firms. Also offers a lot of first-round interviews. General perception of JS is that it has a very comfortable and quirky culture. Specializes in market making.
✔️
✔️
✔️
PDT
Open
NYC
Founded by Pete Muller, collaborative but secretive culture (similar to Rentech). Internships are SWE + SWE/QR combo roles. New grad roles are solely PhD for QR.
✔️
✔️
✔️
Vatic Labs
Open
NYC
Founded by ex-Jump people.
✔️
✔️
AQR
Open
Greenwich
Cliff Asness's firm.
HRT
Open
Austin, Chicago, NYC
The Algo Dev role at HRT is essentially Quantitative Research. HRT's culture seems to be pretty similar to JS and pay is similar too. HRT has a bigger focus on ML with their dedicated HRT AI Labs. HRT, JS and Two Sigma are also known to recruit QRs out of undergrad.
Applications are open year-round!
Virtu
Open
NYC
✔️
✔️
Cubist
Open
New York City
The quant arm of Steve Cohen's Point72 hedge fund.
✔️
✔️
QuantLab
Open
Houston
✔️
✔️
Voleon
Open
Berkeley
Specializes in Machine Learning and recruits college students for SWE roles but primarily recruits PhD students for research roles.
✔️
✔️
Tower Research
Open
NYC
Pretty traditional portfolio manager culture.
✔️
✔️
Bridgewater
Open
Westport
Day Ralio's firm. Very unique culture.
✔️
✔️
Peak6
Open
Chicago
The internships are geared towards women. The new grad roles are open to everyone.
✔️
✔️
IMC
Open
Chicago
Word is that IMC has the chillest culture out of the three big dutch firms (IMC, Optiver, Flow Traders). Pay tends to be in between Flow Traders and Optiver. Tends to be more focused on the quantiative side than Optiver and Flow. Has one of the highest intern salaries.
✔️
✔️
Arrowstreet Capital
Open
Boston
✔️
✔️
Maven Securities
Open
London
Founded by ex-optiver traders.
✔️
✔️
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