The Top 10 Ideal Electronic Trading Employers
Once upon a time, sales and trading jobs in financial services were about working in investment banks, or maybe hedge funds. In the past decade, however, an assortment of electronic trading firms have moved into the market. Citadel Securities alone accounted for one in four of all US equity trades last year and is now moving into the fixed income trading space. If you want to work in sales and trading now, therefore, the electronic market making firms cannot be ignored.
As part of our Ideal Employer survey, we gave you the option to nominate which top electronic trading firms you wanted to work for. The firms you selected are shown (in order) in the chart below.
Over 7,500 people participated in our Ideal Employer survey in the third quarter of 2023. Jane Street was an insurmountable force in our electronic trading rankings, scoring nearly as many Ideal Employer votes as the rest of the electronic trading firms combined, discounting second-place Citadel Securities.
It’s not hard to see why. Jane Street scored very well on almost every single qualitative statement, but the standout scores were given to the quality of its workforce and its pay.
Jane Street has been growing rapidly. In the past year or so, its headcount has risen by 25% – from 2,000 to 2,500 people. Jane Street’s starting salaries for graduate hires are circa $275k and pay in London averaged $862k per head in 2022. That’s slightly up on 2021’s $801k average, but down on 2020 – when Jane Street’s London business paid $1.1m on average according to Companies House.
Citadel Securities ranked second behind Jane Street in our ranking of Ideal Employers in electronic trading. Citadel Securities scored less well than Jane Street on many of the qualitative statements in our survey (you can see what these are if you download the report here) and only ranked above the average for electronic trading firms on statements about its long term future.
Third-place XTX markets is a curious bronze medalist. It ranked poorly compared to the average for electronic trading firms on most quantitative statements and was barely above average for most pay-related metrics. However, XTX is known to have an exceptional office space in London, which may have turned things in its favour.
Rankings for our qualitative statements are about perception not reality: most of the respondents didn't actually work for the companies they appraised. - The rankings reflect the perception of the company in the broader market.
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