yeah, we had discussed all this stuff during interview. So, its not just a simple run a regression using data points you extract from the internet. There's so much more thought that goes into it. That's why I assumed it was a fairly intellectual stimulating role & was surprised at the remuneration offered.
More importantly, the modeling team I interviewed with all had Phd or Masters in statistics, economics etc.. So, its surprising that even a junior position would pay fairly below average for a quantitative analyst type of position