Typical quant base
$183,000 to $288,000
All quant roles, all levels
Graduate base, Citadel
$235,000 to $300,000
Quantitative research analysts, a role open in Miami
Quant researcher, first year
EstimateAbout $325,000 to $450,000
Base plus bonus, before tax
Experienced quant, Da Vinci
$140,000 base
Total pay expected at $500,000 or more
A quant in Miami typically earns a base salary of $183,000 to $288,000. Florida charges no personal income tax, so a Miami salary pays federal income tax only, and more of the same pay is left than in New York or Chicago.
Citadel and Citadel Securities both announced in 2022 that Miami would be their global headquarters. Millennium, Point72 and Balyasny have Miami offices too, and Da Vinci hires experienced quants there.
How much do quants make in Miami?
A quant researcher in Miami typically earns a base of $191,000 to $313,000, and a quant developer $154,000 to $191,000. Each range is the middle half of the base pay firms file for the role in the city, at every firm and every level. Too few quant trader salaries are filed in Miami to give a typical figure for traders.
The filed researcher base is higher here than in New York, where the typical researcher base is $182,000 to $250,000, because most researcher filings in Miami come from one firm, Citadel Securities. So our estimate of a Miami researcher’s total pay starts from New York’s base, not a higher one. Developers are paid less.
Across all quant roles, the typical base starts below the $235,000 to $300,000 Citadel advertises to graduate researchers. It covers every firm and every stage of a career, not only the best-paying graduate offers. And a firm that files a range counts at the middle of it, while the lower end of such a range is often the legal minimum.
Typical base pay in Miami, July 2025 to June 2026
| Role | Typical base | Median |
|---|---|---|
| Quant researcher | $191,000 to $313,000 | $283,000 |
| Quant developer | $154,000 to $191,000 | $170,000 |
The middle half of the base firms file, across every firm and every level. Graduates at the best-paying firms start higher, and the bonus is paid on top.
Which firms hire quants in Miami, and what do they file?
Citadel Securities, Citadel, Millennium, Point72, Balyasny and Tower Research Capital all file quant roles in Miami, and Da Vinci advertises for experienced quants there. Four of them are hedge funds: Citadel, Millennium, Point72 and Balyasny.
The table lists each firm’s main quant job title in Miami and the base pay it files for it, highest first. The filings cover experienced hires as well as graduates, so a firm’s figure here can differ from its graduate ad.
Filed base pay by firm in Miami, July 2025 to June 2026
| Firm | Main quant title | Filed base pay |
|---|---|---|
| Citadel Securities | Quantitative Researcher | $250,000 to $325,000 |
| Balyasny | Quantitative Researcher | $200,000 |
| Millennium | Software Engineer | $138,258 to $200,000 |
| Tower Research Capital | Senior Algorithmic Trader | $170,373 to $200,000 |
| Citadel | Quantitative Research Analyst | $161,139 to $165,000 |
| Point72 | Research Analyst | $150,000 |
A firm that files a range shows the median of both ends. The lower end is often the legal minimum for the role.
What does a Miami quant earn with the bonus?
With the bonus, our estimate for a first-year quant researcher in Miami is $325,000 to $450,000 a year before tax. With 4 to 6 years of experience the estimate rises to $435,000 to $930,000. For a quant developer in the first year, the estimate is $250,000 to $510,000.
The low end of each range is an ordinary year at an ordinary firm, and the top is a strong year at the best-paying firms. The researcher estimate is high because the researcher base is high: the bonus is worked out as a share of it.
At a $220k base, quant researchers in Miami make an estimated $325k to $450k in the first year and $660k to $1.54m after 7 years. The base barely moves with the years; the bonus does the growing, and in a strong year at the best-paying firms it takes total pay to about 7 times the base.
Typical range of base filed for the role: $190k to $315k.
- Researcher, Year 1: base about $220k, estimated total pay $325k to $450k.
- Researcher, 1 to 3 years: base about $220k, estimated total pay $370k to $620k.
- Researcher, 4 to 6 years: base about $220k, estimated total pay $435k to $930k.
- Researcher, 7 years or more: base about $220k, estimated total pay $660k to $1.54m.
Firms’ own ads go further. Da Vinci’s ad for an experienced quant here states a base of $140,000 and expects total pay of $500,000 or more.
A year, before tax, not counting a sign-on bonus. The low end of each column is an ordinary year at an ordinary firm; the top is a strong year at the best-paying firms. † Set by Tradermath from what senior people earn in the market, because too few of them report their pay.
How this estimate is worked out
The base is the one on the slider, within the range firms file for the role in their US salary filings. The bonus is the share of base that people in the role report at each stage, from the lower quarter of reports to the top tenth. The top of a column is at least what the best-paid tenth of employees report in total, because the best-paying firms also pay the highest base. The top firms state $300,000 for graduates. The bonus stays the same share when you move the slider, so a higher base brings a larger bonus.
Estimated total pay in Miami, base plus bonusEstimate
| Experience | Quant trader | Quant researcher | Quant developer |
|---|---|---|---|
| Year 1 | Not enough data | About $325,000 to $450,000 | About $250,000 to $510,000 |
| 1 to 3 years | Not enough data | About $370,000 to $620,000 | About $265,000 to $520,000 |
| 4 to 6 years | Not enough data | About $435,000 to $930,000 | About $280,000 to $545,000 |
| 7 years or more | Not enough data | About $660,000 to $1,540,000 | About $340,000 to $900,000 |
An estimate, a year before tax, not counting a sign-on bonus. It starts from the median base filed for the role. The low end adds the bonus of an ordinary year at an ordinary firm; the top is a strong year at the best-paying firms, at least what the best-paid tenth of employees report in total. From 7 years, Tradermath sets the trader and researcher bonus from what senior people in these roles earn in the market, because too few of them report their pay.
What do firms advertise for Miami roles?
Citadel’s graduate quantitative research analyst role, open in New York, Miami and Greenwich, pays a base of $235,000 to $300,000, with a discretionary incentive payment on top.
Da Vinci is one of the few firms that puts a figure on the bonus. Its ad for an experienced quant in Miami states a base of $140,000 and total pay, bonus included, expected at $500,000 or more a year. Its experienced quant ads for Amsterdam and Hong Kong state the same expected total.
Do quants pay less tax in Miami?
Yes. Florida does not charge personal income tax, so a Miami salary pays federal income tax only. Of the three US quant cities, Miami leaves the most of the same pay.
Federal tax reaches 35% on taxable income above $256,225 and 37% above $640,600. Social Security takes 6.2% of wages up to $184,500, and Medicare 1.45% of all wages, plus 0.9% on wages above $200,000.
The other two cities add a state tax. Illinois charges a flat 4.95%. New York State charges up to 6.85% at quant incomes, and New York City adds up to 3.876% for its residents. The take-home comparison works out what each city leaves of the same pay.
How does garden leave work in Florida?
Florida law lets a firm agree with a highly paid employee on up to 4 years of notice before they leave. During that notice the firm keeps paying the base salary and benefits, but not a discretionary bonus.
The law covers employees who earn more than twice the annual mean wage of their county. For a quant whose bonus is a large part of pay, a long notice can cost that bonus for every year it lasts, so the notice terms matter as much as the offer.
How do you get an offer at a Miami trading firm?
Citadel, Citadel Securities and Da Vinci hire quants through a timed online assessment and then several rounds of interviews. Expect mental arithmetic, number sequences, probability and expected value, and for trading roles, market-making games where you quote a price and adjust it as trades come in.
The practice page has timed tests and interview questions in the format of each firm it covers, including Da Vinci’s online assessment, so the pace of the first round is familiar before you sit it.