Hedge Fund Quants vs Prop Shop Quants

I'd like to know the similarities and difference between hedge fund (Citadel, Squarepoint, Marshall Wace) quants and prop shop (Jane Street, Optiver, DRW) quants. The factors I am most interested in are

1) Job responsibility (how do these guys make money for their firm and by extension themselves)

2) Compensation structure (graduate, 5 years, 10 years)

3) Turnover rate

4) Work life balance (graduate, 5 years, 10 years)

I am mostly interested in quantitative research roles, but also information about trading would be great as well!

Any information would be greatly appreciated! 

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