Indian high-frequency traders raise intern pay to millions of rupees

India’s high-frequency trading houses are competing fiercely for quantitative engineers by paying interns up to Rs 6 million for a two-month program, a figure four times higher than a year ago. Gurgaon-based Quadeye and Graviton Research Capital have raised their offers to Rs 3 million per month and Rs 5 million for the full stint, respectively, while overseas firms IMC Trading and Optiver have matched or exceeded those levels.

Recruiters say firms prefer to train fresh graduates rather than hire experienced staff, especially as India’s derivatives market faces stricter oversight and declining turnover. A regulator’s August study noted a 3% drop in gross profit for proprietary traders over the past year. To offset the slowdown, Indian HFTs are expanding into new asset classes and foreign markets, heightening the demand for skilled engineers. Global firms report difficulty finding candidates with sufficient depth for junior to mid-level roles, further intensifying the talent war.