The True Value of Liquidity (Confessions of a Jane Street Trader)

"You're just trying to cope with your job."

I glared at the therapist. I had come to him for help, for guidance. And all he could tell me was that I was just trying to cope?

I shook my head and stood up. "I don't need this," I said, storming out of his office.

I had been doubting myself for months. Ever since I started working at Jane Street, I had been questioning the usefulness of my work. Buying and selling equity options didn't seem like it was doing much good in the world.

And then I met Esteban.

It was during my paid time off, and I had gone to Bolivia to visit my girlfriend's family. We were touring a coffee farm when, to my surprise, a man came up to me and started praying on his knees. Tears were welling in his eyes.

"You saved my life!" He screamed.

I was confused. How could I have saved this man's life? I didn't even know him.

But then he told me his story.

He explained that due to Jane Street's liquidity, he was able to sell his coffee beans 2 milliseconds faster, which was all the time he needed to take out a loan and save his mother in an emergency situation.

That's when I realized the true power of my work. I was doing good in the world. I was making a difference. Since that day, I have walked into work every day with a new sense of purpose. I am proud of the work that I do. And I am excited for the difference that I can continue to make in the world.

Comments (12)

13d
yag, what's your opinion? Comment below:
[Comment removed by mod team]
13d
yag, what's your opinion? Comment below:
[Comment removed by mod team]
  • Analyst 2 in IB-M&A
12d

Hot take. If you're in a career that provides you with a lucrative income, you don't necessarily need your job in and of itself to be a source of good or something that you derive valuable meaning from. You can be altruistic in the way you spend your money (i.e., donate to charities)

  • Intern in HF - EquityHedge
11d

I agree. I would also add, by earning a high amount of income, you not only lesson the burden of yourself on society by not having to rely on government assistance but also, since you spend more, you're contributing to the growth of the economy (not to mention the money multiplier effect). And as we all know, economic growth is the ultimate way to lift those out of poverty hence we are doing God's work. 

3d
dollar.billy, what's your opinion? Comment below:

Amet dolor sed maiores dolorum atque. Velit accusamus dicta ut dicta.

Sit et nemo aut optio sed autem. Omnis maxime omnis blanditiis et accusamus iusto ad eius. Ipsum ut libero magni ea.

Voluptatem earum est quidem quidem dolores repudiandae. Ea cumque possimus qui.

Maiores cum ipsa est ipsa id aliquid. Et voluptatem dolor voluptas beatae. Aliquid ad minima nulla aut et fuga.

Start Discussion

Popular Content See all

Why do people invest in hedge funds?
+104HFby curiousandcurious22
HF Analyst Life
+32HFby Analyst 1 in IB-M&A
Glass Ceiling for Internationals?
+27HFby Intern in PropTrad
MM vs Lone Pine/Tiger
+25HFby Research Associate in HF - EquityHedge
MM Mkt Neutral - External funds under the umbrella?
+17HFby Investment Analyst in HF - Other
Best L/S credit funds in London?
+15HFby Associate 3 in PE - LBOs

Career Advancement Opportunities

December 2022 Hedge Fund

  • Point72 98.9%
  • D.E. Shaw 97.9%
  • AQR Capital Management 96.8%
  • Citadel Investment Group 95.8%
  • Two Sigma Investments 94.7%

Overall Employee Satisfaction

December 2022 Hedge Fund

  • D.E. Shaw 98.9%
  • Magnetar Capital 97.8%
  • Blackstone Group 96.8%
  • Citadel Investment Group 95.7%
  • Millennium Partners 94.6%

Professional Growth Opportunities

December 2022 Hedge Fund

  • D.E. Shaw 99.0%
  • Point72 97.9%
  • AQR Capital Management 96.9%
  • Citadel Investment Group 95.8%
  • Blackstone Group 94.8%

Total Avg Compensation

December 2022 Hedge Fund

  • Portfolio Manager (9) $1,648
  • Vice President (22) $464
  • Director/MD (11) $434
  • NA (5) $306
  • Manager (4) $282
  • 3rd+ Year Associate (23) $275
  • Engineer/Quant (63) $269
  • 2nd Year Associate (29) $251
  • 1st Year Associate (71) $192
  • Analysts (213) $178
  • Intern/Summer Associate (20) $130
  • Junior Trader (5) $102
  • Intern/Summer Analyst (236) $85