Jane Street Internship

• About Jane Street
• Types of Internships Available
• Explore Opportunities
• Strategies to Win this Jane Street Internship
• Resume Writing Tips for Jane Street
• General Eligibility Criteria
• Understanding Internship Compensation: Are Internships Paid?
• Top 3 Interview Preparation Questions & Sample Answers

About Jane Street

Jane Street is a global quantitative trading firm and liquidity provider that uses advanced technology and collaborative problem-solving to navigate complex financial markets. The company offers internships in various disciplines, including quantitative trading, software engineering, and machine learning, providing interns with hands-on experience in real-world projects and a comprehensive learning curriculum. During a Jane Street internship, you can expect to work on challenging problems, collaborate with experienced professionals, and gain exposure to cutting-edge technologies and trading strategies. The internship program emphasizes intellectual curiosity, teamwork, and continuous learning, making it an ideal opportunity for students interested in finance, technology, or quantitative fields to explore a potential career path.

Types of Internships Available

• Quantitative Trading Internship
  • Focuses on developing advanced decision-making and problem-solving skills applied to modern financial markets. Interns can choose from different electives:
    • Strategy Elective: Analyze complex trading scenarios and trade in simulated environments.
    • Algo Elective: Implement and optimize automated trading systems using market data.
    • Modeling Elective: Explore data-driven approaches to trading and risk management.
• Software Engineering Internship
  • Interns learn to use OCaml, Jane Street’s primary development language, and work on two distinct projects mentored by full-time employees.
• Machine Learning Internship
  • Involves applying machine learning techniques to trading and financial problems.
• Quantitative Research Internship
  • Focuses on analyzing financial data and developing mathematical models for trading strategies.
• Strategy and Product Internship
  • Interns work on projects that combine big-picture thinking with deep dives into data and documentation, solving problems across departments to support the firm’s growth.

Explore Opportunities

You can find information about internships at Jane Street by visiting their dedicated internships page at the following URL: https://www.janestreet.com/join-jane-street/internships/

Strategies to Win this Jane Street Internship

• Excel in mathematics and problem-solving 
  • Participate in math competitions or tackle challenging puzzles, aiming for a solid placement in the Putnam exam, which is highly regarded by Jane Street.
• Develop strong programming skills 
  • Focus on functional programming languages, particularly OCaml, and create a side project using OCaml to demonstrate your proficiency and interest in Jane Street’s primary development language.
• Showcase your intellectual curiosity 
  • Engage in research projects or take advanced courses in areas like machine learning, statistics, or algorithms, such as conducting a research project on applying machine learning techniques to financial data analysis.
• Practice explaining your thought process 
  • Work on articulating your problem-solving approach clearly and concisely; during mock interviews, practice breaking down complex problems and explaining your reasoning step-by-step.
• Participate in Jane Street’s exploratory programs 
  • Look into programs like FOCUS, IN FOCUS, INSIGHT, or SEE, which are designed for underrepresented groups to help you get past the resume screen and provide valuable interview preparation.
• Enhance your technical interview skills 
  • Regularly practice solving LeetCode problems, focusing on hard-level questions and those involving game-related algorithms; for example, master problems like N-Queens and Sudoku solver, which are reportedly favored by Jane Street.
• Gain relevant experience 
  • Seek internships or projects in fintech, quantitative trading, or software engineering; even if you can’t secure a position at a top firm immediately, any experience in these fields will strengthen your application.
• Demonstrate teamwork and collaboration 
  • Participate in hackathons or group projects that showcase your ability to work effectively in a team; Jane Street values collaborative problem-solving, so highlighting these experiences can set you apart.
• Stay informed about financial markets 
  • Develop a basic understanding of trading concepts and market dynamics by reading financial news regularly and being prepared to discuss current market trends during your interviews.
• Tailor your resume and application 
  • Craft a resume that highlights your relevant skills, projects, and experiences specifically for Jane Street while emphasizing quantitative abilities, problem-solving skills, and any finance-related knowledge or experience you possess.

Resume Writing Tips for Jane Street

• Highlight quantitative and problem-solving skills
  • Showcase your advanced mathematics coursework and emphasize participation in math competitions. For example, you might write, “Completed advanced coursework in linear algebra and statistical analysis, placing in the top 10% of the Putnam Mathematical Competition, while developing a machine learning algorithm to predict stock market trends using historical data and statistical models.”
• Demonstrate proficiency in functional programming
  • Emphasize any experience you have with OCaml or other functional programming languages, along with relevant coding projects or contributions. An example could be, “Developed a trading strategy backtesting tool using OCaml that incorporated historical market data and complex statistical analysis, while also contributing to an open-source project for algorithmic trading by implementing efficient data structures and optimizing performance.”
• Showcase intellectual curiosity and collaborative skills
  • Highlight your participation in hackathons or coding competitions, as well as any interdisciplinary research projects. You might say, “Led a team of four in a 48-hour fintech hackathon to develop a real-time market sentiment analysis tool using natural language processing, and conducted an interdisciplinary research project combining game theory and financial markets, presenting findings at a university symposium.”

General Eligibility Criteria

It’s important to note that these requirements may vary depending on the specific internship position and can change over time. Always refer back to the original job posting for the most up-to-date and accurate eligibility criteria for the internship you’re interested in.

Understanding Internship Compensation: Are Internships Paid?

Jane Street internships are paid, and they offer highly competitive compensation. Interns can expect to receive a substantial monthly salary, which has been reported to be around $21,000 pre-tax. This translates to an annualized base salary of approximately $250,000 for some internship positions, such as quantitative research internships. Additionally, Jane Street may provide other benefits like corporate housing, access to on-site gym facilities, and free meals.

Disclaimer: Please note that internship details, including compensation and benefits, may change over time. It’s essential to carefully review the specific internship listing and ask clarifying questions during the recruitment process to get the most up-to-date and accurate information about the internship you’re interested in.

Top 3 Interview Preparation Questions & Sample Answers

• Probability questions:
  • Example: “What is the probability of rolling a sum of 7 with two dice?”
  • Sample response: “There are 6 ways to roll a 7 (1-6, 2-5, 3-4, 4-3, 5-2, 6-1) out of 36 total possible outcomes. So the probability is 6/36 = 1/6.”
• Expected value questions:
  • Example: “You’re offered a game where you roll a die. If it’s even, you win $10. If it’s odd, you lose $5. What’s the expected value of playing this game?”
  • Sample response: “There are 3 even outcomes (2, 4, 6) and 3 odd outcomes (1, 3, 5). The expected value is (3/6 * $10) + (3/6 * -$5) = $5 – $2.50 = $2.50.”
• Market-making scenarios:
  • Example: “You’re market-making a stock currently trading at $100. What bid and ask prices would you set, and why?”
  • Sample response: “I might set a bid of $99.90 and an ask of $100.10. This 20-cent spread allows for a profit on each trade while remaining competitive. I’d adjust based on volatility, liquidity, and my inventory position.”

Remember to explain your thought process clearly and consider multiple factors in your responses. Jane Street values problem-solving skills and the ability to articulate your reasoning more than getting the exact right answer.