Proprietary trading and market making
Jane Street interview guide
Known for interviews that are conversations rather than tests: a probability or betting problem worked through out loud, with the interviewer changing the rules as you go.
How the process usually runs
- 1
Phone or video interviews
Probability and expected-value questions solved aloud, often extended with a follow-up that changes the game. How you reason and correct yourself is weighed as much as the answer.
Practise: Probability lessons
- 2
Trading and betting exercises
Later rounds are reported to include mock trading: making markets, sizing bets and updating on new information.
Practise: Market simulator
- 3
Final round
Several back-to-back interviews mixing probability, markets and, for engineers, coding. Collaboration and clear communication come up in almost every account.
Practise: Mock papers
What to revise
Weighted most heavily in reports: expected value and betting, thinking aloud, market making. The topics below are where the 282 questions in the bank reported at Jane Street come from.
Questions reported at Jane Street
- How many ways can a committee of 3 be chosen from 8 people?Free solution
- You allocate 10 identical lots across 4 accounts, and an account may receive none.Free solution
- You roll a fair die and may re-roll once, keeping the second value if you do.Free solution
- You may re-roll a fair die as often as you like, free of charge, and are paid…Free solution
- An index rises 10% then falls 10%.Free solution
- What keeps a liquid equity ETF trading close to the value of its basket?Free solution
- You are convinced a stock will rise with probability 0.9 rather than the 0.5…Free solution
- Which statement about the central limit theorem is correct?Free solution
- A stock has 30% volatility, the index 15%, and their correlation is 0.6.Free solution
- Can three assets be pairwise correlated at −0.5?Free solution
A summary of what candidates publicly report, not information from Jane Street. Processes change by year, role and office. QuantMax is not affiliated with, endorsed by, or recruiting for Jane Street.