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What the interns have wrought, 2020 edition

blog.janestreet.com

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Re: What the interns have wrought, 2020 edition

#21

Post by davidu »

fractionalhare wrote: post #19
davidu wrote: post #4

For those who don't know, Jane Street is one of the best performing algorithmic trading firms on Wall Street. Probably the largest Ocaml shop on earth. It's a lucrative job for strong programming talent. Engineers there routinely make well over $1mm/year (edit: after a few years). They are similar to Two Sigma in tech focus and talent, which is a more well-known firm.

"Routinely" is doing a lot of heavy lifting. I can confirm it's possible, as I've been in the industry and have spoken to people who make seven figures at Jane Street. But I would rather say it's "reasonably attainable" for an engineer who has been there for at least five - seven years and is really hitting their stride with the type of work. They do routinely beat out top tech compensation, and most engineers there…

I don't disagree with this more nuanced framing.

Re: What the interns have wrought, 2020 edition

#22

Post by freewilly1040 »

davidu wrote: post #4

For those who don't know, Jane Street is one of the best performing algorithmic trading firms on Wall Street. Probably the largest Ocaml shop on earth. It's a lucrative job for strong programming talent. Engineers there routinely make well over $1mm/year (edit: after a few years). They are similar to Two Sigma in tech focus and talent, which is a more well-known firm.

Do they have any plans to go fully remote? I see job postings which still reference specific cities.

Re: What the interns have wrought, 2020 edition

#23

Post by cool-RR »

fractionalhare wrote: post #19
davidu wrote: post #4

For those who don't know, Jane Street is one of the best performing algorithmic trading firms on Wall Street. Probably the largest Ocaml shop on earth. It's a lucrative job for strong programming talent. Engineers there routinely make well over $1mm/year (edit: after a few years). They are similar to Two Sigma in tech focus and talent, which is a more well-known firm.

"Routinely" is doing a lot of heavy lifting. I can confirm it's possible, as I've been in the industry and have spoken to people who make seven figures at Jane Street. But I would rather say it's "reasonably attainable" for an engineer who has been there for at least five - seven years and is really hitting their stride with the type of work. They do routinely beat out top tech compensation, and most engineers there…

Thank you for this detailed breakdown.

Re: What the interns have wrought, 2020 edition

#25

Post by geodel »

johnisgood wrote: post #7
polote wrote: post #3

Let me know if I'm wrong, but it seems like Jane Street is going contrary to the HN common belief that a lot of things should be "buy" instead of "build" and yet they are quite successful

Yep, and they use OCaml! I always feel like I have to point it out since people do not think much of it, have lots of misconceptions of it, and so on.

It need to be pointed out because there may be like grand total of dozen companies which uses OCaml so it is something remarkable.

It is like paintings from famous painters in billionaire's homes. Now for me and may be for lot of people stuff from Bed Bath and Beyond is just fine on our walls. So for ultra-rich / successful/profitable company might see beauty in Ocaml but most of the world runs fine on run of the mill services in PHP/Java/.net etc.

Re: What the interns have wrought, 2020 edition

#26

Post by geodel »

polote wrote: post #3

Let me know if I'm wrong, but it seems like Jane Street is going contrary to the HN common belief that a lot of things should be "buy" instead of "build" and yet they are quite successful

I do not know if it is very difficult to understand. Next food/ clothing delivery startup with a webpage and mobile app : Buy. Cutting edge Wall street firm : Build.

Re: What the interns have wrought, 2020 edition

#28

Post by toiletfuneral »

polote wrote: post #8
davidu wrote: post #4

For those who don't know, Jane Street is one of the best performing algorithmic trading firms on Wall Street. Probably the largest Ocaml shop on earth. It's a lucrative job for strong programming talent. Engineers there routinely make well over $1mm/year (edit: after a few years). They are similar to Two Sigma in tech focus and talent, which is a more well-known firm.

> Engineers there routinely make well over $1mm/year. Do you have a source for such claim ? data from h1b salary [1] tells that senior software make 200k base, and here [2] they explain that the average salary is 440k [1] https://h1bdata.info/index.php?em=JANE%20STREET&job= [2] https://news.efinancialcareers.com/fr-en/307393/jane-street-...

Curious, what actual value do they contribute to society?

Re: What the interns have wrought, 2020 edition

#29

Post by fractionalhare »

maest wrote: post #12
TylerE wrote: post #9

Earlier quoted context omitted.

Wall Street jobs are very very performance bonus driven. Not unusual for bonuses to be 5x or more salary in a good year.

It's rarely the case that Technology sees those kinds of bonuses; that's most common on the Investment side. And yes, even places like Jane Street separate between Investement and Tech.

In HFT (and often stat arb) the front and back office dichotomy doesn't apply as much. Basically anyone doing nontrivial engineering work has an opportunity to share in the profits of the firm at Jane Street. They don't need to be a quantitative researcher or trader.
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