About Us iRage is one of India's leading high-frequency trading firms. We build and own everything in-house, from ultra-low-latency execution to our entire trading infrastructure. Our systems deliver some of the lowest latencies in the market, with order-send speeds under 100 nanoseconds - but the harder problem we've solved is keeping that latency low at scale.

We run thousands of independent portfolios in parallel, carrying overnight positions across thousands of instruments, with tooling that coordinates state and information across hundreds of servers spanning multiple data centres in real time.

The stack is ours end to end: custom FPGA pipelines - including PHY and MAC layers we built on hardware firmware in-house - and a C++ codebase we control from market-data ingestion through order entry and risk. We run experiments over days just to shave off a single clock cycle.

But great technology alone doesn't move markets. Our quant and tech teams work side by side, and the results speak for themselves: millions of trades a day. To put that in perspective, we handle the equivalent of several Big Billion Days in a single day, every day, at lightning speed. iRage is where deep technical expertise meets real market impact, in one of the world's fastest-growing trading ecosystems.

Key responsibilities

1. Own the research product and its quant edge

- Define the desk's coverage universe, research calendar and house style, anchored in your own sector expertise.
- Apply iRage's strengths to your fundamental work, with the quant team assisting with: market microstructure, flows, derivatives positioning, factor and statistical models, and alternative data.
- Work with iRage's quant researchers and data engineers to turn signals (earnings-surprise models, F&O; open interest, delivery and block-deal data, index rebalancing, event studies) into publishable, client-ready ideas.
- Publish initiations, earnings updates, thematic and quant-screen reports, plus short daily or weekly notes.
- Personally cover your core sector(s) with full models,



valuations and management access.

2. Sell the research

- Be the face of iRage research to institutional clients: FPIs, domestic mutual funds, insurers, PMS/AIFs and family offices.
- Run client calls, roadshows, corporate access events and analyst meets; pitch ideas directly to fund managers.
- Partner with institutional sales to win research votes, empanelment and broker rankings, and to grow broking and execution revenue.
- Translate quant outputs into a explicit investment story a fundamental PM will act on.
- Gather client feedback and shape the product around what clients pay for.

3. Lead and develop the team

- Manage 4 junior analysts; assign sectors and set quality standards.
- Review every model and report before publication for accuracy, logic and compliance.
- Train analysts in fundamental research, and encourage them to build data and quant skills alongside iRage's quant team.
- Run weekly idea meetings, set individual goals and conduct performance reviews.

4. Governance and compliance

- Ensure all research complies with SEBI (Research Analysts) Regulations, disclosure norms and internal conflict-of-interest policies.
- Maintain clear separation and information barriers between research and iRage's proprietary trading.

Qualifications

- 7+ years of equity research experience at an institutional brokerage, investment bank, research house or buy-side fund.
- Proven coverage track record: either a few sectors, or deep, recognised expertise in 1–2 sectors (e.g., BFSI, IT, consumer, autos, pharma, capital goods).
- Strong institutional client relationships and a demonstrated ability to sell ideas to fund managers.




- Strong fundamental research skills: expert financial modelling and valuation, and a deep understanding of business models, financial statements and industry dynamics.
- Willingness to do quant-related research: curious about data-driven ideas and keen to partner with iRage's quant team. Prior quant experience is not required; the quant team provides the models and data.
- Clear, persuasive writing and presentation skills.
- NISM Research Analyst certification (or willingness to obtain it promptly) and familiarity with SEBI research regulations.
- CA, CFA, MBA (Finance) or a degree in a quantitative field.

What we offer and how to apply

- The chance to build a research franchise from the ground up, backed by one of India's most experienced quant and HFT firms.
- Direct access to iRage's market data, quant researchers and technology stack.
- Competitive fixed pay plus a performance bonus linked to research quality and revenue.
- A small, fast-moving team with direct access to the partners.

Here’s what we offer:

- Compensation – competitive package, plus a meaningful performance bonus
- Generous paid time off – Recharge & come back sharper.
- Work with the best – Collaborate with top-tier global talent.
- Adventure together – Annual offsites (international & domestic) plus regular team outings.
- Performance rewards – Attractive bonuses for those who go above & beyond.
- Health covered – Comprehensive insurance so you’re always protected.
- Fun, not just work – On-site sports, games, & a lively workspace.
- Learn & lead – Regular knowledge-sharing sessions led by your peers.
- Annual Education Allowance – Take any external course, or certification that makes you better at your craft.
- Stay fit – Gym memberships with equal employer contribution to keep you at your best.
- Relocation support – Smooth move? We’ve got your back.
- Friendly competition – Work challenges & extracurricular contests to keep things exciting.

📌 Senior Equity Research Analyst (Mumbai)
🏢 Irage
📍 Mumbai