Jane Street's New Internship Salary(125k or 10.4k a month)--Thoughts?
Hello Perspective Monkeys,
I'm just wondering what's your guys' take on this year's Jane Street Salary, which is 125k prorated, or 25k for 10 weeks. Is it almost outrougaus to pay an intern that much money while BBs are only paying 6k/month. I should also mention that JSC will send you to London or HK for a week, all expense paid.
Personally, I only made it to the round before the final round, so this figure is from a couple buddies of mine who are starting their internship this summer.
I think it's fairly good...
I knew someone from my school (a couple years ahead of me) who went to work at Jane Street. In his final year (before he left to do something else), his all-in compensation was in the low 7-figures.
27 years old and making low 7-figures... You probably will not find compensation like that at a bulge bracket firm.
Do you know why he decided to leave?
He left Jane Street to join a tech start-up.
I'm assuming he left prior to 11? To my knowledge, even prop trading has gone down a bit for the last few years. But yes, low 7-figure for a 27 years old sounds amazing. I'm assuming he could probably retire he he stuck around till he's 30.
I believe he left in 2011 or maybe even 2012. It's possible that prop trading has gone down over the last couple years, but I cannot say for certain since it is not my area of expertise.
As for retiring when he's in his 30's... I think he could still do that after joining his tech start up. He is partner-level (instead of a regular employee) so he has been given a substantial amount of equity. He has also directly invested some of his own personal capital in the start-up. Still too early to say if they will be successful, but if the company does go public or get acquired by another company, well, he will be set for this lifetime and probably a couple more lifetimes to come...
what the f**k that is insane loool
I made it to the 3rd round. I'm pretty smart, but you pretty much have to be a genius to work there. They ask you to do a lot of things in your head that most people can't do.
If they are paying that much, they can ask w/e they want and there are applicants out there that will be able to deal with it. But look at LTCM.
Stopped reading after this. Please be quiet.
Is that you Myron Scholes or does being a jerk on a message board make you feel like you're more of a man? Learn why they lost. They grossly underestimated the probability of extreme events like a Russian default and doubled down. They didn't have the common sense to say something's wrong here, we need to stop trading until we figure it out. With such an arrogant piece of crap attitude you have you'll probably blow your account someday yourself.
Hindsight 20/20, man. They had two Nobel Laureates; I think that given their historical performances, their line of thought wasn't too absurd. Anyone can read "When Genius Failed" and retrospectively call them idiots.
Haha you mad? Did they? Really? You must be a Nobel Laureate.
You're applying for SA roles, what the fuck would you know about my attitude. Take your head out of your ass and be a little more humble, kid.
Also, does anyone know how mathematical the actual role at JSC is?
Sounds very competitive with tech companies and start ups, which is who they're really competing with here. Interns and new hires can actually do substantial work vs. being a coffee runner so seems fair.
shockingly high given the base salary at other props, but not surprising given the recent run up in tech salaries.
I've heard of starting base salaries in the low 6 figures for quants, quant traders and devs at a lot of Chicago shops now. Combined with the cost of living differential in NYC it doesn't seem that absurd. The real money is all about the bonus anyway. As long as your base is livable it shouldn't be a deciding factor.
And yeah I know guys fresh out of college pulling $100k+ and RSUs/equity at places like FB, GOOG or top startups. It makes sense to offer a similar base so their parents aren't hounding them about why they went to work for some trading company with an odd name for $60k + the carrot of a big bonus down the line.
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