How much can you get paid as an engineer at quantitative hedge fund Two Sigma in London? Accounts have just been released for Two Sigma International Limited for the year ending December 2018. The answer seems to be, around the same as at Google.
Two Sigma International employed 42 people in London last year and spent £9.3m on wages and salaries for the whole group. This amounts to an average of £220k per head, which isn't bad even if it is slightly less than the £242k average Two Sigma paid the previous year.
Two Sigma has been hiring. The bulk of its London staff are engineers, who make up nearly 70% of the total. Last year Two Sigma employed 29 of them, up from 20 in 2017. In addition to the engineers there were four modeling staff and nine corporate staff in 2018.
Two Sigma is competing with Google for London's top engineering talent and it's therefore probably not a coincidence that Google's UK operation pays staff a similar amount. As we reported in April, average salaries at Google in London were £106k and average Google London bonuses were £95k last year.
In 2018 Two Sigma International made £1.2m of profits on nearly £17m of turnover. This compared to £1.3m and £15m a year earlier. Someone at the fund took a big pay cut: the highest paid individual was awarded £847k in 2017, but this fell to £396k a year later.
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