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An AI trading firm paying 5x as much as Jane Street in London has been hiring

If you thought Jane Street was the top paying company in electronic trading, prepare to have your mind blown. Quadrature, a London based 'automated trading' firm, pays almost six times as much per head... and is hiring.

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Jane Street's most recent companies house accounts show that, in 2022, it paid 483 staff an average of ÂŁ615.9k ($789k) in 'Salaries and Wages'. Quadrature's show that it paid 98 staff ÂŁ3.6 million per head that same year. In 2023, Quadrature's headcount rose to 113 and pay fell, but it was still above ÂŁ3m on average.

Pay at Jane Street is particularly impressive for entry-level talent, but Quadrature seems to be able to compete here too. data suggests Quadrature's UK interns earn around $20k per month, which we noted makes them the highest paid interns in finance outside the US. 

Higher up the ladder, Quadrature has been making some executive hires. Richard Blastland joined in June as CFO, having previously been an MD and head of non-markets product control at Barclays. 

Quadrature also has an office in Singapore, and is opening an office in New York this autumn. Hires are few in the US as yet, but include some senior names. Simon Thornington was a vice president for five and a half years at quant fund Two Sigma and joined Quadrature as a quant developer this month. William Levine, former New York HFT production engineering lead at Citadel Securities, joined in May as a systems engineer.

But what is it like to work there? Will Wilson, co-founder of tech and quant recruitment firm Stride, said in a Quora post a few years ago that the firm has "made a big point of not hiring those with big egos, no matter how talented." Co-founders Suneil Setiya and Greg Skinner, for example, spent $100m to set up a foundation fighting climate change in 2019 (though the former was also once spied eyeing a $153m London apartment, so they're not necessarily looking for nomads either).

Wilson says that "the bar of technical talent [had] never been lowered" while he was in contact with them. Benefits offered have included yoga classes and ski trips, while the company has also brought in guest lecturers and held robot building competitions. 

Quadrature's staff seem to love working there; it's rated 4.9 stars from 5 on Glassdoor. Recent reviews reinforce the friendly, low-ego environment, however one review states that the firm's rate of expansion has made the onboarding of new staff less seamless than the past.

Quadrature did not respond to a request for comment.

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AUTHORAlex McMurray Reporter

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