EM comp at Jane St/Citadel

I can speak to my observations at JS, but would love to also hear from folks at other trading firms. Comp-wise, while we don’t have levels, I believe our comp structure is similar to what you’ll find at F/G: parallel tracks between ICs and EMs, where the EM track starts a few levels / years in, and folks at the same level / seniority are paid similar amounts. The main difference is, afaik, that JS pays a lot more than F/G at the equivalent levels. Direct comparisons are difficult to draw, but my very rough guess for the TC of an average newly-minted EM at JS (M0 equivalent?) is somewhere between 500 and 700. The EM role is probably quite different than that of an EM at F/G, primarily due to the size of the firm. Logistically, JS EMs tend to have fewer direct reports than their peers at F/G (EMs of ICs tend to have <= 5 directs, and there are only a handful of manager of managers within tech). Most front-line EMs are senior / rising ICs converted, who tend to hold on to a small part of their IC responsibilities. Culturally, JS is still small enough that it makes sense for the primary decision-making model to be one based on distributed consensus, and with a focus on human over process, as opposed to one requiring more centrally-coordinated processes. This means most internal guidelines for EMs are just guidelines as opposed to strict policies, and since each team is different it’s often up to the EM to figure out what works best for her team. This applies to almost every managerial aspect of the of the job - how you do regular check-ins, project prioritization, communication with stakeholders, delegate responsibilities, etc. (The only “hard” responsibility of a manager I can think of is to coordinate the bi-annual reviews for her reports, which is why EMs are often referred to as “review coordinators” internally.) Again, EMs aren’t left on their own - in addition to various guidelines there is also an increasing amount of manager training / mentoring available within the firm, a lot of which is recently institutionalized by our ex-G HR folks - but by and large the EM role at JS feels pretty bespoke and un-structured. I’d say being an EM at JS is fun and rewarding, the same way being an EM at a 1000-person (mid-stage?) startup is, except you’re also paid a bunch more. Happy to chat more over DM if you’re interested.