Now Reading: HFT firms pay interns up to Rs 60 lakh for two months
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HFT firms pay interns up to Rs 60 lakh for two months
High-frequency trading (HFT) companies in India are offering record pay packages to attract interns, with some paying as much as Rs 60 lakh for a two-month stint. Gurugram-based Quadeye is paying interns…
High-frequency trading (HFT) companies in India are offering record pay packages to attract interns, with some paying as much as Rs 60 lakh for a two-month stint. Gurugram-based Quadeye is paying interns Rs 30 lakh per month, or about $31,346, a roughly four-fold increase from last year, according to a Bloomberg report.
Other firms are following suit. Graviton Research Capital has raised its internship package to around Rs 50 lakh for two months, up from Rs 16 lakh. Global firms such as Amsterdam's IMC Trading BV have doubled their packages to about Rs 50 lakh, while Optiver Holding BV is offering close to Rs 60 lakh.
The demand for quantitative talent remains strong despite a slowdown in derivatives trading. The National Stock Exchange's average daily futures and options turnover hit a 17-month low in July, and proprietary trading firms' gross profit fell 3% in the year to March, according to a market regulator study.
Indian Opinion Analysis
The surge in HFT intern pay reflects a global war for quantitative talent, where a few skilled engineers can build algorithms that generate outsized profits. Indian institutes like the IITs are the primary hunting ground. The Reserve Bank of India's tighter derivatives norms and Sebi's concern over retail losses in options have squeezed trading volumes, but HFT firms are expanding into new asset classes and overseas markets, keeping demand high. The next signal to watch is how these pay packages affect campus placement averages at top engineering colleges, and whether regulatory pushback on derivatives accelerates or slows the talent race.
Source: bazaar.businesstoday.in
This brief was synthesised by AI from the source linked above.
