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It differs across shops. I don't work on the securities side at Citadel so unfortunately I can't speak on that, but I did work for another large Chicago prop shop several years ago. At my old shop desk heads would get a percentage of P&L (above some hurdle), so say 25% on P&L of the desk above 2 MM or something like that (obviously both of those numbers are dependent on desk and perceived ability/value), while lower level traders' compensation was more opaque. At a place like Optiver, however, traders are paid based on the overall P&L of the firm, and it is my understanding that every level knows how many 'marbles' they will get (within a relatively small range), with the value of the marbles determined by firm P&L. Basically, the answer is 'it depends'.

 

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