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Phd Quant Jobs in Elgin, IL (NOW HIRING)

Anson McCade

Quantitative Researcher

Chicago, IL · On-site

$200K - $400K/yr

Permanent Quant Researcher, HFT Equities/Futures - NYC/Chicago Anson McCade have partnered with a ... An advanced degree, such as a Master of Science or PhD from a top university in a STEM field of ...

Maven

Graduate Quant Researcher 2027 - Chicago

Chicago, IL · On-site

$150K - $175K/yr

A Bachelor's, Master's or PhD student in applied mathematics, statistics, engineering or physics * Relevant programming experience in at least one language (Python, C++, C#) * Proactive interest in ...

IMC

Quantitative Researcher - Options

Chicago, IL · On-site

$250K - $300K/yr

Ms or PhD in a highly quantitative field * At least 5 years in financial services or a quantitative environment * Experience in project or people management * Strong programming skills, Python, Java ...

Point72

Cubist Quantitative Researcher

Chicago, IL · On-site

S., M.S. or PhD in finance, economics, mathematics, statistics, data science, computer science, or other quantitative discipline. * Programming in Python (or comparable language) and working ...

Optiver

Quantitative Research Intern PhD

Chicago, IL · On-site

$80K - $90K/yr

As a Quantitative Research Intern, you will work side-by-side with our Research Team of ... Currently enrolled in a PhD program in Mathematics, Statistics, Computer Science, Physics or a ...

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All JobsPhd Quant JobsPhd Quant Jobs in Elgin, IL

Phd Quant information

See Elgin, IL salary details

$96.9K

$167.8K

$256.5K

How much do phd quant jobs pay per year?

As of Sep 3, 2026, the average yearly pay for phd quant in Elgin, IL is $167,778.00, according to ZipRecruiter salary data. Most workers in this role earn between $133,000.00 and $196,700.00 per year, depending on experience, location, and employer.

What is a PhD Quant?

A PhD Quant, short for Quantitative Analyst with a PhD, is a professional who uses advanced mathematical, statistical, and computational techniques to analyze financial markets and develop complex models for trading, risk management, or investment strategies. They typically work in banks, hedge funds, or financial technology firms. PhD Quants leverage their deep expertise in fields like mathematics, physics, computer science, or engineering to solve challenging problems and gain insights that drive financial decision-making. Their work often involves programming, data analysis, and the implementation of quantitative models.

What are the key skills and qualifications needed to thrive as a PhD Quant?

To thrive as a PhD Quant, you need a strong background in mathematics, statistics, and programming, typically supported by a PhD in a quantitative field such as mathematics, physics, finance, or engineering. Expertise in technical tools such as Python, C++, R, and experience with statistical modeling systems and quantitative finance libraries is expected. Analytical thinking, problem-solving abilities, and effective communication are standout soft skills in this role. These skills and qualities are crucial for developing complex models, interpreting data accurately, and collaborating across multidisciplinary teams in high-stakes financial environments.

What are the typical collaboration dynamics for a PhD Quant within a financial institution?

PhD Quants frequently work in close collaboration with traders, risk managers, and software engineers to develop and implement quantitative models for pricing, risk assessment, and trading strategies. While a significant portion of the work involves independent research and model development, regular meetings and cross-functional teamwork are essential to ensure models align with business objectives and regulatory requirements. Effective communication skills are important, as PhD Quants often need to explain complex mathematical concepts to colleagues with varying technical backgrounds.

What is the difference between Phd Quant vs Quant Analyst?

AspectPhd QuantQuant Analyst
Required CredentialsPhD in Mathematics, Statistics, or related fieldBachelor's or Master's degree, often with quantitative skills
Work EnvironmentResearch-focused, often in finance or hedge fundsTrading floors, financial institutions, or asset management firms
Industry UsagePrimarily in hedge funds, investment banks, and proprietary tradingIn asset management, hedge funds, and banks

The main difference between a Phd Quant and a Quant Analyst lies in their educational background and focus. Phd Quants typically hold doctoral degrees and focus on developing complex models and research, while Quant Analysts often have master's or bachelor's degrees and focus on applying models to trading strategies. Both roles are integral to quantitative finance but differ in scope and depth of research.

Do quant firms hire PhDs?

Quant firms frequently hire PhDs, especially in fields like mathematics, physics, computer science, and engineering, to develop and implement complex trading algorithms and models. Candidates typically need strong quantitative skills, programming experience in languages such as Python or C++, and a solid understanding of financial markets. A PhD can provide a competitive edge in securing roles in quantitative research, trading, or risk management within these firms.

How much do PhD quants make?

PhD quants typically earn between $150,000 and $300,000 annually, with compensation increasing based on experience, location, and the complexity of their quantitative models. Many also receive bonuses and profit-sharing, especially in finance and hedge fund environments where advanced statistical and programming skills are essential.

What job categories do people searching Phd Quant jobs in Elgin, IL look for?

The top searched job categories for Phd Quant jobs in Elgin, IL are:

What cities near Elgin, IL are hiring for Phd Quant jobs?

Cities near Elgin, IL with the most Phd Quant job openings:

Phd Quant jobs near you
Infographic showing various Phd Quant job openings in Elgin, IL as of June 2026, with employment types broken down into 61% Full Time, and 39% Part Time. Highlights an 92% Physical, 3% Hybrid, and 5% Remote job distribution, with an average salary of $167,778 per year, or $80.7 per hour.

Quantitative Researcher

Anson McCade

Chicago, IL • On-site

$200K - $400K/yr

Full-time

Re-posted 27 days ago

Job description

£200,000-400,000 GBP
sign-on and end-of-year bonuses
Onsite WORKING
Location: Chicago, Illinois - United States Type: Permanent
Quant Researcher, HFT Equities/Futures - NYC/Chicago
Anson McCade have partnered with a renowned proprietary trading firm which engages in market making and position-taking strategies across liquid Equities, Futures, and Options markets. The firm has a flat, collaborative and open environment, where Quantitative Researchers carry out full-stack research from preprocessing data and feature engineering through to strategy implementation and monitoring in live trading.
They have a mandate to hire Quantitative Researchers in either New York and Chicago, and have particular interest in Quants with experience researching ultra-low latency or co-located strategies through to models with intraday/daily trading horizons.
The Role:
  • Design, engineer and implement research and trading software for electronic trading
  • Cover additional functions such as strategy optimization, post-trade analytics and PnL attribution.
  • Use advanced research techniques to develop trading models.
  • Peer-review the research of other quantitatives at the firm and collaborate with development specialists on the implementation and optimisation of alphas.
Requirements:
  • An advanced degree, such as a Master of Science or PhD from a top university in a STEM field of study.
  • Advanced coding proficiency in Python, in addition to familiarity and willingness to learn C++.
  • Prior experience within Quantitative Research for electronic trading is highly beneficial.

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