1 week ago
High-Frequency Trading Firms Offer Record Pay to Indian Interns
Some trading companies in India are paying interns much more than usual.
These interns are often young engineers who are very good at mathematics, coding, and computers.
Their work involves creating programs that help companies trade stocks and other products quickly.
Optiver is offering about ₹60 lakh for two months.
Graviton and IMC are offering around ₹50 lakh, while Quadeye is offering ₹30 lakh each month.
Companies are competing strongly to hire talented students directly from engineering colleges.
They say it is difficult to find enough experienced workers for junior jobs.
New rules have also reduced some derivatives trading, so firms want better technology and smarter strategies.
A regulator’s study found that proprietary trading firms’ gross profits fell by 3% in the year ending in March.
High-frequency trading firms are offering Indian engineering interns unusually large payments for two-month summer programs.
Optiver is reportedly offering ₹60 lakh, while Graviton and IMC are offering about ₹50 lakh.
Gurgaon-based Quadeye is offering ₹30 lakh per month, or approximately ₹60 lakh for two months.
The firms want young quantitative engineers to build trading models and execute strategies at high speed.
Talent competition has intensified as derivatives regulations reduce trading activity and firms expand into new markets.
- Who
- High-frequency trading firms, including Optiver, Graviton Research Capital, IMC Trading, and Quadeye, and quantitative engineering interns.
- What
- The firms are offering record compensation for short summer internships involving quantitative models and high-speed trading strategies.
- Where
- The hiring is focused on India, involving global firms and Indian companies such as Gurgaon-based Quadeye.
- When
- The offers concern two-month summer internships; the article also cites July trading data and an August regulatory study.
- Why
- Firms are competing for scarce quantitative talent while tighter derivatives rules have reduced trading activity and local companies expand into overseas markets and additional asset classes.
Key facts
- Optiver offer
- ₹60 lakh for a two-month internship.
- Graviton offer
- About ₹50 lakh for a two-month internship, up from roughly ₹16 lakh.
- IMC offer
- About ₹50 lakh for a two-month internship, reportedly double its previous package.
- Quadeye offer
- ₹30 lakh per month, or approximately ₹60 lakh for a typical two-month stint.
- Comparable pay
- The median annual pay for IIM Ahmedabad postgraduates last year was roughly ₹35 lakh.
- Trading activity
- NSE average daily notional futures-and-options turnover fell to a 17-month low in July.
- Profit change
- A regulator’s August study said proprietary trading firms’ gross profit fell 3% in the year ended in March.
Quotes
Daniel Vaz
Partner at recruitment firm Aquis Search
“Global firms are not finding candidates with adequate depth in lateral hiring for junior to mid-level roles.”
livemint.com
“There is increasing aggression from global HFTs to hire straight from campus”
livemint.com
Sources
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