How Much Does Jane Street Pay?
Jane Street is one of the highest-paying employers in the world, full stop. Graduate hires in New York routinely receive total first-year compensation packages between $400,000 and $600,000 - more than starting partners at most law firms, more than mid-career physicians, and more than the median Google L7 engineer. Senior traders and partners at the firm earn into the eight figures.
This guide breaks Jane Street's compensation down by role, by level and by office, with numbers drawn from levels.fyi, public reporting, and what we have heard from candidates negotiating offers. For the full interview process and how to actually get one of these jobs, see our Jane Street interview guide and Jane Street internship guide.
The Headline Numbers
Graduate / First-Year Total Compensation
| Office | Role | Base | Sign-on / Guarantee | Year-1 bonus | Total Year 1 |
|---|---|---|---|---|---|
| New York | Software Engineer | $200,000 | $100,000 - $150,000 | $100,000 - $250,000+ | $400,000 - $600,000 |
| New York | Quantitative Trader | $200,000 | $100,000 - $150,000 | $100,000 - $300,000+ | $400,000 - $700,000 |
| London | Software Engineer | £130,000 | £60,000 - £100,000 | £60,000 - £180,000 | £250,000 - £400,000 |
| London | Quantitative Trader | £130,000 | £60,000 - £100,000 | £80,000 - £250,000+ | £270,000 - £500,000 |
| Hong Kong | Software Engineer | HK$1,500,000 | HK$700,000 - HK$1,200,000 | HK$700,000 - HK$1,800,000 | HK$2.9M - HK$4.5M |
Note: bonus ranges are wide because Jane Street's bonus is heavily performance-driven even in year one. The lower end of the range is a quiet first year; the upper end is a strong one.
For broader cross-firm context, see our quantitative analyst salary guide.
Compensation by Level
Jane Street's career ladder is flatter than most banks. The firm uses a small number of levels, and progression is performance-driven rather than tenure-driven. Approximate ranges (based on levels.fyi data, our own conversations and Glassdoor):
Software Engineer
| Level | Years experience | Base | Total annual comp |
|---|---|---|---|
| Junior | 0-2 | $200,000 | $400,000 - $600,000 |
| Mid | 2-5 | $225,000 | $500,000 - $900,000 |
| Senior | 5-10 | $250,000 | $700,000 - $1.5M |
| Staff / Principal | 10+ | $275,000 | $1M - $3M+ |
Quantitative Trader
| Level | Years experience | Base | Total annual comp |
|---|---|---|---|
| Junior | 0-2 | $200,000 | $400,000 - $700,000 |
| Mid | 2-5 | $225,000 | $600,000 - $1.5M |
| Senior | 5-10 | $250,000 | $1M - $3M+ |
| Partner-track | 8+ | $275,000+ | $2M - $20M+ |
The trader range widens dramatically with experience because trader bonuses are tied to P&L. A successful senior trader can earn an order of magnitude more than a struggling one with the same tenure.
How Jane Street's Bonus Actually Works
Jane Street's bonus is the largest single component of total compensation and the most variable. Three things to understand:
1. The bonus pool is funded by firm performance. Jane Street has had unusually strong years recently (the firm reportedly generated over $14 billion in net trading revenue in 2023), which means bonuses have been correspondingly large. In leaner years, the pool shrinks for everyone.
2. Allocation is performance-driven within the pool. Strong individual performers receive a meaningfully higher bonus than weak ones at the same level. The dispersion can be large - two traders at the same level can receive bonuses that differ by a factor of 5 to 10 in the same year.
3. The first-year guarantee insulates new hires. Most graduate offers include a first-year guarantee that sets a floor on total compensation. After year one, you are exposed to the full performance dynamic.
Comparing Offices
Jane Street's compensation is broadly similar across offices on a purchasing-power-adjusted basis, but there are nominal differences:
- New York pays the most in nominal dollars. Roughly 10 to 20% more than London at the same level.
- London pay is slightly behind New York in nominal terms but ahead on purchasing power for most living arrangements (lower housing costs in many neighbourhoods, free healthcare).
- Hong Kong pay has tracked between New York and London in recent years with the additional benefit of a low income tax rate (15 to 17%) which materially boosts take-home.
- Singapore (where Jane Street has a smaller presence) pays similarly to Hong Kong with comparable tax benefits.
For UK-specific salary context across roles, see our quant finance salary guide UK and hedge fund salary UK guide.
What Drives the Range
Three factors explain the wide salary ranges within each level:
Trading vs engineering. Trader compensation has a higher ceiling than engineer compensation because traders own P&L directly. A successful senior trader can earn 2 to 3x what a senior engineer at the same tenure earns. The trade-off: bigger downside in lean years.
Years at the firm. Jane Street's promotion path has long, well-defined steps. Within a level, the difference between year 1 and year 4 can be substantial because of compounding bonuses.
Specific desk or team. Some teams (manual options trading, for example) have historically had larger P&L per trader than others. Performance dispersion within those teams is also larger.
Other Benefits
Cash compensation is the headline number, but Jane Street's broader benefits add meaningful value:
- Free breakfast, lunch and dinner at the office every weekday
- Subsidised gym membership ($100/month for most major chains in New York)
- Generous parental leave (16 to 24 weeks, varies by office)
- Sabbatical programme (paid time off for senior employees on a multi-year cadence)
- Charitable matching at very high limits (well into six figures for senior employees)
- No equity grants (Jane Street is privately held; compensation is entirely cash)
The lack of equity is sometimes flagged as a downside, but Jane Street's cash compensation is sized to make total comp competitive with the equity-heavy packages at top tech firms.
How Jane Street Compares to Peers
Approximate first-year graduate compensation (US, 2026), based on levels.fyi and our own data:
| Firm | Year 1 total comp |
|---|---|
| Jane Street (trader) | $400,000 - $700,000 |
| Citadel Securities (trader) | $400,000 - $700,000 |
| Hudson River Trading (engineer) | $300,000 - $500,000 |
| Two Sigma (engineer or researcher) | $250,000 - $400,000 |
| Optiver (trader, US) | $200,000 - $300,000 |
| SIG (trader) | $200,000 - $300,000 |
| Top FAANG (L4 engineer) | $250,000 - $350,000 |
| Top investment bank (analyst) | $150,000 - $250,000 |
Jane Street is consistently at or near the top of this table. The trade-off is selectivity (Jane Street accepts fewer than 1% of applicants) and intensity (the work is genuinely demanding).
For deeper comparison across firms, see our quant developer career guide, quant trader career guide, and quant researcher salary guide.
Frequently Asked Questions
How much do Jane Street graduates make in year 1?
In New York, total first-year compensation for graduates is typically between $400,000 and $700,000 (base, signing, first-year guarantee and bonus combined). In London, between £250,000 and £500,000. The exact number depends on role, performance and the firm's overall trading year.
Does Jane Street pay equity?
No. Jane Street is privately held and compensation is entirely cash. Senior employees do not receive equity grants or stock options. Cash comp is sized to compensate for this.
How does Jane Street's bonus work?
Bonuses are paid annually (typically in February for the prior calendar year). The pool is funded by firm-wide P&L; allocation is performance-driven. New hires usually have a first-year guarantee that sets a floor on total comp; after year one you are fully exposed to the performance dynamic.
What is the highest-paying role at Jane Street?
Senior trader and partner roles are the highest-paying, with successful traders earning into the eight figures in strong years. Senior engineers and senior researchers are also very well compensated, though typically lower than top-performing senior traders.
How does Jane Street pay compare to Citadel Securities?
Both are at the top of the industry. Jane Street and Citadel Securities pay graduate traders similarly (roughly $400,000 to $700,000 in year 1 in New York). Senior compensation is also broadly comparable, though dispersion within each firm is large enough that comparing individual cases is more useful than comparing firm averages. We have a Citadel salary guide and Citadel interview guide covering Citadel specifically.
Does Jane Street pay relocation?
Yes. New hires moving for the role typically receive paid flights, paid temporary housing for several months, and a relocation lump sum.
What is the maximum compensation at Jane Street?
Not publicly disclosed. Successful senior traders and partners are widely reported to earn into eight figures annually in strong years.
How do I negotiate a Jane Street offer?
Jane Street's offers are largely standardised at the graduate level - the base and signing are firm-wide, and the first-year guarantee follows a structured matrix. Negotiation room is limited. For experienced hires, more negotiation is possible, particularly around base and signing bonus.
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