Jane Street's UK pay? £808k per head, £14m if you're a partner
Earlier this year, the Financial Times revealed that Jane Street paid a total of $4.1bn in compensation in 2024, an average of $1.4m per head. However, Jane Street's London office, is not quite as much of a millionaire maker, unless you're a partner.
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Recently released accounts for Jane Street UK Partnership LLP (JSUP), the primary entity of the firm on Companies House, show that Jane Street spent £555.6m on 'salaries, allowances and benefits in kind' in the 12 months to December 31st 2024. This is an average of £808k ($1.1m), spread among 688 employees.
Not everyone is average, though. While Jane Street UK Partnership employs 688 people, it only has six partners, of which two are corporate entities. Partners at the firm get a share of the substantial profits. In the year to December 31st 2024, they shared $1.16bn, an average of $193.3m each. However, the highest paid director received $1.06bn, meaning average compensation for the rest of the LLP members averaged $19.6m (£14.4m).
Who are these partners? They include Ian Shea, Jane Street's Europe head of fixed income trading, and John Mackenzie, Jane Street's Europe head of legal and compliance. David House, who held the title of head of trading systems in a previous Jane Street entity, is a partner too.
Jane Street is hiring in London. It is doubling its office space in the city, with the FT reporting that it has a 465k square foot office on track for completion by 2029. Headcount at the firm increased by 52 to 688 last year. This was mostly the result of hiring 41 technologists. Trading headcount increased by 10 and infrastructure headcount increased by just one person.
Jane Street has a reputation for being 'a little communist' in the way it pays staff. This doesn't appear to apply to partners, though. XTX Markets, another up-and-coming trading firm, is similarly generous to its elite. XTX paid its 25 LLP partners £14m each in 2023, while employees of another of its entities were earning a comparatively poor £326k.
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