Jane Street
Quant Trader intern
Application
A CV through the careers site, read by a person rather than a filter; expect an answer in one to four weeks. Quant researcher applicants can be rerouted to trading. The recruiter decides from the CV which round you start at, and since the 2025 cycle first-years are not interviewed.
Online assessment
Web form · ~30 min, 4–5 items
Probability and expected-value items with a typed justification. Candidates call it easy; running out of time is the failure mode. Applied selectively since the 2025 cycle.
Sit this round →Round 1
Virtual interview · 30–45 min
One trader, two short problems on dice, coins or cards. Compute the EV, then the rule changes and you re-optimise. You are asked to guess before you compute.
Sit this round →Round 2
Virtual interview · 45 min
One game for the whole slot: optimal stopping or a two-player strategy game. The interviewer perturbs parameters and asks what changes.
Sit this round →Round 3
Virtual interview · 45 min
More open-ended: n-player games and bidding with asymmetric information. Strong CVs skip straight from Round 2 to the superday.
Sit this round →Pre-superday pack
A market-making terminology guide you are told to read, a pandas primer, and a form asking how many hours you have coded.
Open the pack →Superday morning
In-person interview · 2 × ~60 min
Market making against a trader. Dice warm-ups, then a 40-card deck with four hidden cards, progressive reveals, convex payoffs and 2× side bets. The first interview is a declared warm-up and does not count; the lunch cut is made on the second.
warm-upSit this round →countsSit this round →Lunch
If the morning scored too low, your superday ends here.
Superday afternoon
In-person interview · 1–3 × ~60 min
Games played for chips against a senior trader, with hints now held against you; a pandas data round in a shared notebook; an optional coding round if you declared hours; and a behavioural with fifteen minutes for your questions.
Decision
Scored cumulatively across every round, not per round. Finishing with chips is not an offer; sizing, width and updating are what is graded.
Reconstructed from first-hand candidate reports and the firm's own published material. Problems in this track are original and format-faithful; nothing is copied from a live interview.