Base in firm ads
S$120,000 to S$270,000
Entry level to five years or more, on the government job portal
Experienced trader, Citadel
S$204,000 to S$270,000
Five years or more, in Citadel’s Singapore ad
Quant researcher, 1 to 3 years
EstimateAbout S$230,000 to S$310,000
Base plus bonus, before tax
Top income tax rate
24%
On income above S$1 million; no CPF for Employment Pass holders
Jane Street calls Singapore its newest office in Asia, and Flow Traders opened its first Asia-Pacific office there in 2007. HRT, DRW, Jump and XTX Markets all advertise Singapore roles.
Trading firms’ own ads on the government job portal put Singapore base pay at S$120,000 to S$270,000, from an entry-level developer at DRW to a trader with five years or more at Citadel. Income tax tops out at 24%, against 45% in the UK.
How much do quants earn in Singapore?
Trading firms that post on the government job portal state a yearly base for Singapore. DRW offers entry-level software developers S$120,000 to S$240,000, and Citadel offers traders with five years or more S$204,000 to S$270,000.
The best-paid roles are missing from the portal. A job with a fixed salary of S$22,500 a month or more does not have to be advertised there, so the ceiling of about S$270,000 a year is where the portal stops, not where pay stops.
What does total pay look like in Singapore?
With the bonus, our estimate for a quant researcher or trader in Singapore with 1 to 3 years of experience is S$230,000 to S$310,000 a year before tax. In the first year the estimate is S$220,000 to S$265,000, and from 7 years it is S$325,000 to S$615,000.
The chart below shows every stage. Move the slider to set the base.
At a S$180k base, quant researchers in Singapore make an estimated S$220k to S$265k in the first year and S$325k to S$615k 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 3 and a half times the base.
Typical range of base in recruiter guides and job ads for the city: S$120k to S$240k.
- Researcher, Year 1: base about S$180k, estimated total pay S$220k to S$265k.
- Researcher, 1 to 3 years: base about S$180k, estimated total pay S$230k to S$310k.
- Researcher, 4 to 6 years: base about S$180k, estimated total pay S$250k to S$410k.
- Researcher, 7 years or more: base about S$180k, estimated total pay S$325k to S$615k.
Senior pay goes well past this chart. Jane Street paid an average of US$2.68 million per employee in 2025.
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.
How this estimate is worked out
The base is the one on the slider, within the range recruiter guides and firms’ job ads give for the city. 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 bonus stays the same share when you move the slider, so a higher base brings a larger bonus.
How much do quant interns earn in Singapore?
HRT’s 2027 algorithm development internship states a weekly base for each office: S$7,650 in Singapore, US$5,800 in New York and £4,350 in London, with company-paid housing and meals.
HRT intern weekly base by office, checked 24 September 2026
| Office | Weekly base salary |
|---|---|
| Singapore | S$7,650 |
| New York | US$5,800 |
| London | £4,350 |
HRT’s 2027 graduate ads also cover Singapore, but state only the US base: US$300,000.
Which trading firms hire quants in Singapore?
- Jane Street: Singapore is its newest office in Asia.
- Flow Traders: its first Asia-Pacific office, opened in 2007.
- Hudson River Trading: hires graduates and interns in Singapore.
- DRW: hires quantitative researchers in Singapore.
- Jump Trading: hires AI researchers in Singapore.
- XTX Markets: hires C++ software engineers in Singapore.
How is pay taxed in Singapore?
Resident income tax is progressive, from 0% on the first S$20,000 to 24% on income above S$1 million. Income from S$320,000 to S$500,000 is taxed at 22%, and the next S$500,000 at 23%.
The tax on the first S$1 million of chargeable income is S$199,150, just under 20% of it.
Foreign employees on an Employment Pass pay nothing into the Central Provident Fund, the savings scheme for citizens and permanent residents. Their take-home pay is salary minus income tax.
What salary does the Employment Pass need?
The Employment Pass is Singapore’s work pass for foreign professionals, and the Ministry of Manpower sets a minimum monthly salary for it. In financial services the minimum is S$6,200 at age 23, rising with age to S$11,800 at 45 and above.
The minimum rises to S$6,600 for new applications from 1 January 2027, and for renewals of passes that expire from 1 January 2028, up to S$12,700 at 45 and above. Trading firm pay clears it by a wide margin.
How do you get an offer at a Singapore trading firm?
Singapore trading firms test the same core skills as their other offices: quick, accurate arithmetic, probability and clear reasoning under time pressure. Most processes open with a timed online test, and the interviews that follow add estimation questions and market-making games.
The offer is where your base is set, and the bonus grows from there. Practising each firm’s test format under the real time limit is the most direct way to reach that offer.