Markets
Is Chicago a good place to work as a quant?
KnowQuant research deskUpdated 1 September 2026Method 2026.1
Short answer
Chicago ranks #3 of 17 in our quant hiring index, rated exceptional for opportunity, with a quant researcher median of $461k.
Chicago's derivatives heritage produced the densest concentration of market makers and HFT firms anywhere. Demand is engineering-heavy: C++, low-latency systems, FPGA and kernel-level work are valued as highly as research in many firms. Trader compensation is unusually performance-linked, and strong low-latency engineers command packages that rival research roles - a pattern less common in New York or London.
Demand concentrates in hft, market making, options, quant trading, c++. The employers our desk tracks in the market are citadel, jump, drw, optiver, imc, hrt, running high-frequency trading, market making, options, latency arbitrage.
Right to work: The same US routes apply as in New York, and several Chicago firms run structured graduate programmes. Check the current official US guidance and confirm with the employer whether the role is sponsored.
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Cite these figures
KnowQuant Quant Compensation Benchmark, Q3 2026 edition, method 2026.1. https://www.know-quant.com/answers/is-chicago-a-good-place-to-work-as-a-quant
Free to quote and republish with attribution and a link to the source page, under our terms. Method 2026.1, last reviewed 1 September 2026. The methodology sets out how each band is built and what it excludes.
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Methodology
Figures are expressed as annual total compensation (base salary plus expected performance bonus) in the reference market's local currency, converted from a US dollar base. They describe typical market ranges rather than any individual offer, and exclude sign-on payments, deferred equity and carried interest. Portfolio-manager figures reflect formulaic profit-share arrangements and are therefore far more dispersed than any other role.
KnowQuantIndex 2026.1 · Updated September 2026
Modelled bands describe the market, not an individual offer. Where an employer states pay, the stated figure is used and labelled as such.