Multi-strategy major Bridgewater Associates is splashing the cash in a bid to secure future data talent, with Ray Dalio's Connecticut-based hedge fund currently offering to pay $41,000 for eight-week investment engineer internships, according to a report by Financial News.

The report cites a job description posted on the firm's website as confirming that the $21,000-a-month compensation package includes a "sign-on bonus, as well as housing and travel to and from the office”.

Bridgewater is looking to hire interns who can build data models and algorithmic systems to solve complex problems, with successful candidates joining the firm's summer-long investment engineering class.

The top interns from the programme will then be offered full-time positions at Bridgewater on completion of their degrees, according to the firm's advertisement.