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Hedge funds outpay banks in battle to recruit new quants

The funds are eager to attract workers with quantitative skills; some graduates say they are earning $1m

Hedge funds are paying top dollar to bring in new employees with quantitative skills, underscoring the desperation some funds face to bulk up their abilities around big data and algorithms.

A new survey from Baruch College’s financial engineering programme found that recent graduates working at hedge funds made significantly more than their peers working at banks. Baruch’s master’s program teaches students skills like data science and financial modelling.

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