Optiver vs Jane Street
Which would you choose when deciding between these firms for a Trading Role and how do they compare with respect to compensation, rate of progression, best desks, etc. Also, how do they compare in terms of reputation for later opportunities to move to other firms/start a start-up/raise money?
Do you have offers from both? Starting TC at Jane Street is a lot higher but with marbles Optiver can catch up/beat JS a few years in. Things to consider are: 1. Optiver is mainly options MM, JS trades a lot more products 2. Optiver and JS have meaningfully different trading styles 3. NYC vs. Chicago (assuming US) 4. re: comp growth, I think currently at both firms the median 5yoe trader is making 1-2m, but comp might cap out around there 5. culture, different strokes for different folks but I think JS > optiver in this regard 5. optiver traders have founded akuna, wintermute, and numerous other smaller firms. With the obvious exception, I don't think this is common at JS. This probably says more about the culture/growth opportunities at each firm than their reputation, though.
what's marbles
Marbles are an arbitrary unit of bonus payouts⊠you are allocated marbles per level and can get perf related allocations
How do they compare in tenure a few years in? I often hear the rumours that people at JS barely move after a few years, but especially because of the marble system comp at Optiver must be so high that a move to another trading firm is also not worth it?
Whatâs marble system comp? I tried to Google but found little details
Get the offers, then think which one to chooseâŠ
When it comes to later opportunities, there's absolutely no comparison. Most people on Blind can name at least one former Jane Street employee who has been able to raise tons of money for a fast-growing crypto exchange. But I bet nobody can name a former Optiver employee who had a similar track record.
Great comment but in all seriousness I'd probably take JS
Thanks for the comment, SBF was obviously a bit of an anomaly though, would a high proportion of JS traders interested in raising money be successful in that? Also does the JS brand on the CV help relative to other firms or do ex-JS happen to be successful because JS typically hire people who would be successful at that regardless?