In Manhattan, Goldman Sachs and Jane Street are separated by a street, a century, and a 160 per cent average pay gap.
Goldman and its rival investment banks were once the titans of trading. Now it is Jane Street that paid an average of over $900,000 per employee last year to Goldman’s $340,000, according to FT calculations.
The upstart, founded at the turn of the millennium, is among a handful of highly secretive trading firms — also including Citadel Securities, Susquehanna International Group, XTX Markets and DRW — to have capitalised on the electronification of financial markets to seize market share from less nimble and more heavily regulated banking stalwarts, and reshaped Wall Street’s trading landscape in the process.
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