Head to head
KnowQuant research deskUpdated 1 September 2026Method 2026.1
Singapore or Hong Kong?
On US dollar equivalent total compensation, Hong Kong pays about 4% more than Singapore across the quant disciplines we benchmark. Singapore ranks 4th in our hiring index and Hong Kong 5th. Both markets hire heavily into systematic trading. Headline pay is only part of the picture: tax, cost of living and visa access change the net outcome materially between these two.
| Measure | Singapore | Hong Kong |
|---|---|---|
| Country | Singapore | Hong Kong SAR |
| Hiring index rank | #4 of 17 | #5 of 17 |
| Opportunity | Very strong | Very strong |
| Currency | SGD | HKD |
| Pay index vs New York | 82% | 85% |
| Where demand sits | Systematic trading, commodities, macro, quant research | Equities, derivatives, systematic trading, China-focused strategies |
| Dominant strategies | Systematic trading, Commodities, Macro, Market making | Equities, Derivatives, China A-shares, Systematic trading |
| Employers on the desk | optiver, imc, jump, millennium, de-shaw | optiver, imc, millennium, point72, jump |
| Visa and right to work | The Employment Pass is the usual route and its thresholds have been raised over time. Check the current official Singapore guidance and confirm with the employer that the specific role would be sponsored. | Employment visas are the usual route for these roles. Requirements change, so check the current official Hong Kong guidance and confirm sponsorship with the employer. |
Modelled reference estimate of annual total compensation, shown in each market's own currency with the US dollar equivalent in brackets. Positive gap means Singapore pays more.
| Market | Singapore | Hong Kong | Gap |
|---|---|---|---|
| Quant Researcher | S$522k ($390k) | HK$3.1m ($404k) | -4% |
| Quant Trader | S$494k ($369k) | HK$3.0m ($383k) | -4% |
| Quant Developer | S$374k ($279k) | HK$2.3m ($289k) | -4% |
| Quant Analyst | S$253k ($189k) | HK$1.5m ($196k) | -4% |
| HFT / Low-Latency Engineer | S$423k ($316k) | HK$2.6m ($327k) | -4% |
| Systematic Portfolio Manager | S$1.4m ($1.0m) | HK$8.3m ($1.1m) | -4% |
| Software Engineer | S$335k ($250k) | HK$2.0m ($259k) | -4% |
| Machine Learning Engineer | S$429k ($320k) | HK$2.6m ($332k) | -4% |
| Data Engineer | S$313k ($234k) | HK$1.9m ($242k) | -4% |
| Data Scientist | S$269k ($201k) | HK$1.6m ($208k) | -4% |
| Site Reliability Engineer | S$308k ($230k) | HK$1.9m ($238k) | -4% |
| Network and Infrastructure Engineer | S$275k ($205k) | HK$1.7m ($213k) | -4% |
| Security Engineer | S$302k ($226k) | HK$1.8m ($234k) | -4% |
| Trading Operations Analyst | S$192k ($144k) | HK$1.2m ($149k) | -4% |
| Risk Manager | S$264k ($197k) | HK$1.6m ($204k) | -4% |
| Compliance Officer | S$225k ($168k) | HK$1.4m ($174k) | -4% |
| Fund Finance and Accounting | S$220k ($164k) | HK$1.3m ($170k) | -4% |
| Technical Recruiter | S$203k ($152k) | HK$1.2m ($157k) | -4% |
Direct answers with the figure, the date and the caveat, generated from the same tables above.
Hong Kong, by roughly 4% on US dollar equivalent total compensation across the disciplines we benchmark. A quant researcher modelled reference estimate is S$522k in Singapore against HK$3.1m in Hong Kong. Figures are base plus expected bonus, before tax.
Singapore ranks higher in our hiring index (#4 against #5), based on live classified vacancy volume, employer breadth and role seniority mix. Singapore is rated very strong for opportunity, Hong Kong very strong.
A long-established regional quant hub, and the base for many systematic and commodities desks. The trade against Hong Kong is lower headline pay, offset by the employment pass is the usual route and its thresholds have been raised over time. check the current official singapore guidance and confirm with the employer that the specific role would be sponsored. Compare the tax and cost position before treating the gross gap as real.
optiver, imc, jump, millennium run desks in both markets, so an internal transfer is a realistic route. Singapore additionally carries de-shaw.
Singapore: Singapore has absorbed a significant share of regional quant headcount over the past decade, helped by regulatory stability and a tax position that many candidates weigh in the comparison. The market is strongest in systematic trading, commodities and macro, with a growing crypto and digital-asset segment. Headline packages need to be compared after tax rather than at face value against London. Rates and reliefs change, so use current official guidance rather than a rule of thumb, and treat this as context rather than tax advice. Hong Kong: Hong Kong remains the centre for strategies that need proximity to mainland China markets, particularly equities and derivatives. Headcount has been more volatile than Singapore's, but firms running China-focused books continue to hire, and Mandarin capability plus onshore market knowledge carries a real premium. Compensation is competitive, and the tax position differs enough from London or New York that offers should be compared after tax using current official guidance.
Yes, with attribution and a link. Method 2026.1, last reviewed September 2026. KnowQuant Quant Compensation Benchmark, Q3 2026 edition, method 2026.1. https://www.know-quant.com/markets/compare/singapore-vs-hong-kong
KnowQuant Quant Compensation Benchmark, Q3 2026 edition, method 2026.1. https://www.know-quant.com/markets/compare/singapore-vs-hong-kong
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.
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.
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