If you know anything about finance, you'll know that Jane Street is one of the best paying places to work in the industry. As we reported in April, starting salaries for researchers and traders at Jane Street are now $275k (£229k), which isn't bad when you've only just graduated.
In London, however, average pay per head at Jane Street fell in 2021.
Recently released accounts with Companies House in London show pay per head at Jane Street Europe (Ltd.) fell last year. In 2020, Jane Street paid 274 London staff an average of $1.1m (£908k). In 2021, it paid 335 London staff an average of $801k (£667k).
Declining pay may have something to do with the fact that group revenues at Jane Street Europe (Ltd) fell from $1.6m to $222k last year, while profits at the London-based entity went from $979k to a $69m loss. The company attributed this to "long exposure to certain emerging markets" and "short exposure to certain developed markets." It said this combination of exposures contributed to the 86% decrease in revenues.
Jane Street has also been spied stocking up on prize-winning students with first class degrees in computer science, maths and physics from Cambridge University, Oxford University and Imperial College (but especially from Cambridge University). As Jane Street increased London headcount, it's conceivable that average pay fell as the workforce became more junior.
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