British billionaire trader Alex Gerko is turning heads in the tech and finance world after announcing that interns at his firm, XTX Markets, will earn an eye-watering £26,000 ($35,000) a month during their placement.
The 12 to 14-week research internship, advertised on XTX’s website, is aimed at postgraduate students and could see participants pocket between $105,000 and $122,500 in total.
The role, based in New York, includes a generous sign-on bonus to help with accommodation costs.
XTX said it is seeking highly skilled PhD candidates in computer science, mathematics, electrical engineering, or related fields, with strong research backgrounds in artificial intelligence. Successful interns will work four days a week on cutting-edge projects described as high-risk, high-reward AI research and will be considered for permanent roles in New York or London.
Gerko, often referred to as the king of the geeks, founded XTX in 2015. His firm’s use of sophisticated algorithms has made it a global force in trading, despite employing just 250 people.
The Russian-born entrepreneur is also one of the UK’s biggest taxpayers, contributing £665m in 2023 and paying himself a record £682m last year.
The extraordinary pay package highlights the fierce competition among global firms to secure top tech talent.
Silicon Valley giants and companies like Meta are reportedly offering eye-watering sums in one case, $1bn to lure elite engineers and researchers in the ongoing race for AI supremacy.
For XTX, the internship offers more than just money. Interns will have the chance to turn academic research into real-world trading solutions in what the firm calls an academia-like environment.
Gerko, who lives on a 150-acre estate in the Chiltern Hills, has previously said he is happy to pay high taxes but remains critical of how the UK government spends them.
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