Graduate base salary
$300,000
Master’s and PhD researchers and systematic traders, New York
Quant researcher
$192,000 to $226,000
Typical US base, middle half of filed pay
Quant developer
$155,000 to $191,000
Typical US base, middle half of filed pay
Master’s and PhD interns
$8,600 a week
Ten weeks in New York, plus housing
Analyst interns
$4,250 a week
Equity and macro, New York and Chicago
New York quant researcher, first year
EstimateAbout $325,000 to $450,000
Base plus bonus at every firm, for comparison
Susquehanna International Group (SIG) began in the early 1980s, when a group of college friends started trading on the floor of the Philadelphia Stock Exchange using their quantitative skills and poker experience. They joined forces in 1987 to found the firm, and SIG still teaches many new hires through strategy games and decision science.
SIG states pay only in its New York and Chicago ads. Its ads for Bala Cynwyd, near Philadelphia, leave pay out, although SIG files US work visas for positions there.
How much does SIG pay graduates?
SIG pays Master’s and PhD graduates a $300,000 base in New York, both as quantitative researchers and as quantitative systematic traders. Its 2027 ads state that one figure for each role rather than a range.
SIG’s Bala Cynwyd ads state no base, so for a graduate who joins there, the filings below are the guide.
What does SIG typically pay?
Across its US quant roles and every level, the middle half of the base SIG files is $162,000 to $221,000, and researchers sit above developers. The filings include Bala Cynwyd, where the ads leave pay out.
That figure sits well below the $300,000 graduate ads for a reason. SIG files a wide range for each position, and each range counts at its middle, while the lower end is often the legal minimum for the role. The upper end of each range, in the table below, is closer to what a hire is offered.
Filed US base salaries, July 2025 to June 2026
| Job title as filed | Lower end (median) | Upper end (median) |
|---|---|---|
| Software Developer | $88,100 | $222,000 |
| Quantitative Research Trading Associate | $99,900 | $300,000 |
| Software Developer - Mid | $180,000 | $265,000 |
| Quantitative Trader | $73,200 | $250,000 |
SIG files a range for most positions. The lower end is often the legal minimum for the role, not a typical salary, so read the two ends together.
What does the first year pay in total?
Our estimate for a first-year quant researcher, across every firm in New York, is $325,000 to $450,000 in base and bonus together. SIG does not publish its bonus, and its graduate ads state only the base.
How does pay grow after the first year?
Through the bonus, as at other trading firms. SIG publishes nothing about it, and few of its traders report their pay, so the two reports below are single years rather than a pattern: one trader and one developer, each with one to three years at the firm.
Reported by employees, 2025 and 2026Reported
A quantitative trader with one to three years in Bala Cynwyd reported $214,000 in base and $99,000 in additional pay (2025). A software developer with one to three years reported $189,000 in base and $41,000 in additional pay (2026).
For traders, the market estimate is the better guide: across every firm in New York, our estimate for a quant trader with 1 to 3 years of experience is $335,000 to $565,000.
How much do SIG interns earn?
SIG pays some of the highest intern rates in the industry. Master’s and PhD interns in quantitative research and systematic trading receive $8,600 a week over ten weeks in New York, $86,000 for the summer, plus a signing bonus, housing, breakfast and lunch. Equity and macro analyst interns receive $4,250 a week.
Undergraduates are paid less than Master’s and PhD students. In July 2026 the press put SIG’s undergraduate intern pay at about $7,600 a week.
How does SIG compare with other firms?
For Master’s and PhD graduates in New York, SIG shares the top of the US market with Jane Street and HRT: all three advertise a flat $300,000 graduate base. Citadel and Citadel Securities advertise ranges that reach the same figure from $235,000, and IMC advertises $250,000.
Its intern rate stands out further. The $8,600 a week it pays Master’s and PhD interns is well above the $5,800 a week that HRT pays in New York.
SIG states $300,000, the highest graduate base in any US ad, level with Jane Street and Hudson River Trading. This is base pay only: the bonus comes on top, and within a few years it grows to match or pass the base.
- SIG$300,000
- Hudson River Trading$300,000
- Jane Street$300,000
- Jump Tradingintern rate$300,000
- DRW$250,000 to $300,000
- Citadel$235,000 to $300,000
- Citadel Securities$235,000 to $300,000
- IMC$250,000
- Optiver$200,000
- Two Sigma$165,000 to $190,000
- Flow Traders$175,000
The base salary each firm states in its US graduate job ads, September 2026. The bonus comes on top.
How do you get a SIG offer?
SIG tests decision-making under uncertainty from the first step. The online assessment covers probability, expected value, combinatorics and logic, and the later rounds ask you to price and make markets on games with cards and dice, out loud and under pressure. The firm’s roots in poker and game theory show in how it interviews.
The interview guide covers each stage, from the online assessment to the final day. The practice page has timed practice versions of the Problem Solving Assessment and the Quantitative Evaluation, so the format is familiar before the real one.