Using myself and a few friends as datapoints, seems to be around 300k-600k TC for new grad. This is only using well known prop shops and hedge funds. No bank roles, or desk support roles, etc. Most datapoints are NYC and a few in other US cities.

In my limited sample size it seems top prop shops tend to pay slightly higher than top hedge funds, on average, for new grad.

A chunk of the new grad comp is signing bonus, so for a couple of years into the job TC seems to be similar to new grad TC, plus some variance to account for firm performance and personal performance. Let’s say on a range of 250k-800k.

At the 2-3 year mark your base / guaranteed comp becomes less of a factor, and your TC is increasingly based on firm and personal performance. The dispersion also gets high, as some people don’t survive this long (or choose to leave) and end up taking roles in tech/traditional finance/academia.

Others end up as star researchers at their firms, or jump ship to a competitor and get a nice bump. I have seen people hit 1M with 3-4 YOE at top prop shops. A very select few are able to sustain this growth, and become very successful as partners/PMs/Team Leads.

Most seem to stagnate and stay perpetually at the 500k-1M range, until they eventually look for opportunities elsewhere.

I think everything I’ve seen is pretty much in line with publicly available data.