HFT firm Susquehanna paid $686k per head at one of its UK entities in 2024
While London and Amsterdam are the two top cities for prop trading and HFT firms in Europe, Dublin is also favoured by some of the bigger firms. Chief among them is Susquehanna International Group (SIG), the market maker with a propensity for sports betting, which seemingly ramped up its hiring (and pay) in the Irish capital.
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2024 accounts for the UK branch of 'Susquehanna Dublin Limited' via Companies House show that the firm raised headcount over 26%, from 128 to 162 employees last year. All but one of the new hires were in its trading and support division. Despite all the new faces, average pay rose year-on-year; staff in the entity earned $686k in 'salaries and wages' on average in 2024, up from $480k the year before.
Susquehanna's other UK entities are much smaller. The UK branch of 'Susquehanna International Securities Limited' had 29 staff, up from 23 last year, and had a far lower average pay: $198k. Traders make up a much smaller proportion of that entity, with IT staff being its largest division. Susquehanna UK limited, a newer entity incorporated in 2023, had just 3 employees but paid them a respectable $798k for the 14 months to December 2024 (~$684k for 12 months).
It's not entirely clear whether employees in its Irish entity are actually based in Ireland or the UK. According to LinkedIn, the firm has ~100 employees in London, which would suggest the former, or a combination of both. LinkedIn says SIG also has more than 680 employees in Ireland, though, meaning this entity would be just a fraction of total Irish staff. SIG did not respond to a request for comment.
Revenue across SIG's UK entities rebounded last year after a particularly rough 2023. They collectively made $438m in profit last year, compared to just $309m in 2023. Total revenues were also marginally higher than 2022, but the firm paid its staff a much higher average that year; staff in SIG's Dublin entity earned $1.1m on average in 2022 while its international securities entity paid $653k.
Pay at SIG isn't quite as lavish as the elite market making firms like Jane Street and Citadel Securities. They paid $1.1m and $966k per head, respectively, in their UK entities last year.
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