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Takeaways from the Jane Street bond prospectus

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Re: Takeaways from the Jane Street bond prospectus

#101

Post by notagoodidea »

jfrbfbreudh wrote: post #66
SkipperCat wrote: post #52

Earlier quoted context omitted.

SWE will probably make between 250-500k. Quants who can come up with profitable trading strategies can make a lot more. Managers of trading teams can make over 1MM and sometime a lot over 1MM depending on how profitable their teams perform. SWE who have deep subject matter experience are super valuable to these firms. Folks who understand how to write low latency code, FPGA work and other stuff like that. But the rea…

I work at a competing firm and our SWE new grads make $420-470k (including signing bonus). JS pays their new grads similarly, just a tiny bit lower.

I guess, I live in the wrong country and wrong profession if I want to make that much of money. This is an stupidly gigantic amount of money. I know that I will not make this much gross any year of my life, actually this is around 7-8 years of my gross annual salary.. I know US vs UE etc. Still this is crazy. Not sure how UE salary in the same field/category compares.

Re: Takeaways from the Jane Street bond prospectus

#102

Post by CharlieDigital »

paxys wrote: post #87

> The only founder still at the firm is Rob Granieri, but insiders say it is functionally run by roughly 30-40 senior executives in what kinda resembles an incredibly profitable anarchist commune. Or as Jane Street itself puts it: > We operate as a functionally-organized structure consisting of various management and risk committees. Each committee is responsible for directing the overall strategy of the firm and for…

The second definition of "anarchy" according to Google:

    > the organization of society on the basis of voluntary cooperation, without political institutions or hierarchical government; anarchism.
Sounds like a perfect fit.

Re: Takeaways from the Jane Street bond prospectus

#103

Post by herewego »

LudwigNagasena wrote: post #98
andrew_eu wrote: post #86

I often discuss Jane Street as a great model of employee branding. They do well placed adverts/sponsorships (e.g. Standup Maths[0]), they produce a quite decent quality podcast (Signals and Threads [1]), and they have consistent monthly puzzles [2]. That level of investment in branding only makes sense, I think, at a large size. I'm kind of surprised they only have ~2500 people. [0] https://www.youtube.com/user/stand…

Their revenue per employee is probably similar to revenue of a single mid size company.

I can assure you it’s much higher. Much higher.

Re: Takeaways from the Jane Street bond prospectus

#104

Post by paxys »

CharlieDigital wrote: post #102
paxys wrote: post #87

> The only founder still at the firm is Rob Granieri, but insiders say it is functionally run by roughly 30-40 senior executives in what kinda resembles an incredibly profitable anarchist commune. Or as Jane Street itself puts it: > We operate as a functionally-organized structure consisting of various management and risk committees. Each committee is responsible for directing the overall strategy of the firm and for…

The second definition of "anarchy" according to Google: > the organization of society on the basis of voluntary cooperation, without political institutions or hierarchical government; anarchism. Sounds like a perfect fit.

There is a CEO on top who has the power to fire anyone. There are department heads and middle managers. There is an org hierarchy. There are performance targets and reviews. Nothing about it is "voluntary cooperation". This is how every large company runs.

Re: Takeaways from the Jane Street bond prospectus

#105

Post by smnplk »

blackhawkC17 wrote: post #33
hendzen wrote: post #9

Jane Street made 4.4bn net income in Q1 2024 w/ 2600 employees. Tether made 4.5bn net income in Q1 2024 w/ probably <50 employees.

Well, Tether only needs to hold treasuries and collect quarterly interest payments. They don't need much staff, at least if they haven't looted the treasuries SBF style.

I'd be surprised if they hold 20% of non-crypto assets.

Re: Takeaways from the Jane Street bond prospectus

#106

Post by AJRF »

llm_trw wrote: post #23
Smaug123 wrote: post #13

> At the end of 2023, Jane Street employed 2631 people > About 80 per cent of the company's capital comes from employee equity, which has swelled to $21.3bn at the end of 2023 o.O

That works out to 8 million per person on average. I'd be interested to see if the Pareto distribution holds here as well, namely that 1% of employees (26) hold half the wealth ($10b).

Don't you mean Zipfian distribution?

Re: Takeaways from the Jane Street bond prospectus

#108

Post by syntaxing »

LudwigNagasena wrote: post #98
andrew_eu wrote: post #86

I often discuss Jane Street as a great model of employee branding. They do well placed adverts/sponsorships (e.g. Standup Maths[0]), they produce a quite decent quality podcast (Signals and Threads [1]), and they have consistent monthly puzzles [2]. That level of investment in branding only makes sense, I think, at a large size. I'm kind of surprised they only have ~2500 people. [0] https://www.youtube.com/user/stand…

Their revenue per employee is probably similar to revenue of a single mid size company.

They made 10B net in 2023 (supposedly)…that’s a ballpark of 4M net revenue per employee. What mid size company makes 4M net per employee?!

Re: Takeaways from the Jane Street bond prospectus

#109

Post by citizen_friend »

CharlieDigital wrote: post #102
paxys wrote: post #87

> The only founder still at the firm is Rob Granieri, but insiders say it is functionally run by roughly 30-40 senior executives in what kinda resembles an incredibly profitable anarchist commune. Or as Jane Street itself puts it: > We operate as a functionally-organized structure consisting of various management and risk committees. Each committee is responsible for directing the overall strategy of the firm and for…

The second definition of "anarchy" according to Google: > the organization of society on the basis of voluntary cooperation, without political institutions or hierarchical government; anarchism. Sounds like a perfect fit.

Volunteer committees of execs is a standard management practice and not anarchy by any stretch of the imagination.

Re: Takeaways from the Jane Street bond prospectus

#110

Post by yohannparis »

CharlieDigital wrote: post #102
paxys wrote: post #87

> The only founder still at the firm is Rob Granieri, but insiders say it is functionally run by roughly 30-40 senior executives in what kinda resembles an incredibly profitable anarchist commune. Or as Jane Street itself puts it: > We operate as a functionally-organized structure consisting of various management and risk committees. Each committee is responsible for directing the overall strategy of the firm and for…

The second definition of "anarchy" according to Google: > the organization of society on the basis of voluntary cooperation, without political institutions or hierarchical government; anarchism. Sounds like a perfect fit.

Thank you! I had to look it up, I did not knew English had tow definitions for Anarchy, I did not understood the parent comment.
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