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GLpartners


Total Posts: 22
Joined: Oct 2007
 
Posted: 2007-10-06 03:54
Hi,

I gather that both firms does pretty much the same thing with the latter having been around for a longer period of time.

I have an interview with Jane Street and I was wondering if someone could share their experiences with me.

I have read the other posts on Jane Street and it doesn't really help much in terms of specific questions.

Thanks!

Statistical arbitrage

jd1123


Total Posts: 23
Joined: May 2007
 
Posted: 2007-10-09 05:36
Hi GLpartners,

What specifically are you looking for? A list of questions you can memorize that will be asked on your exam (interview)? This is probably not the best approach to cracking the interview.

I don't know anything about Jane Street or their business, but I did interview with SIG a while back. Lots of probability brain teasers, nothing too challenging if you have a decent math background or have a strong interest in gambling theory. Also some personality fit questions which you should probably expect on any interview.

If you read the Vault guides to finance, that will probably give you a decent idea of what you should expect on general interviews. You can also check out "Heard on the Street," but I would really suggest you prepare in general as opposed to specifically. Interviews are very different from exams you get in college: an exam doesn't change if it suspects you prepared by specifically studying question (1). Some interviewers will throw you a curve ball in a situation like this.

Good luck!

GLpartners


Total Posts: 22
Joined: Oct 2007
 
Posted: 2007-10-09 21:26
Hey jd1123,

Thanks for the suggestion, I was trying to figure out in general what kind of questions they ask and not the specifics. Getting the job through memorizing answers sure ain't the way to go, I'm actually waiting for the phone call right now.

I kind of enjoyed working through "heard on the street" questions. Hope its going to be fun!

How was SIG from your experience? I am really interested in joining their poker tournament, did you play?

Statistical arbitrage

quicksilver


Total Posts: 1
Joined: Oct 2007
 
Posted: 2007-10-18 00:29
Hi GLparners,

I have the same interview scheduled and would appreciate it if you could tell me how yours went and what they covered.

Kutilya
Quote Machine

Total Posts: 1292
Joined: Jun 2004
 
Posted: 2007-10-18 23:08


If you use the search function on NP you will find a thread, which had a lengthy discussion on Jane Street.


For a change not being sarcastic at all...

GLpartners


Total Posts: 22
Joined: Oct 2007
 
Posted: 2007-10-21 15:53
Hi quicksilver,

It was fine, prob questions, brain teaser and a question on odds. The interviewers won't bother with stuff like fit questions and "walk me through resume" stuff.

The prob questions are simple, brain teasers you might get right away or you don't. Does that help?

Statistical arbitrage

anderman


Total Posts: 2
Joined: Jun 2007
 
Posted: 2007-10-23 15:40

Jane Street was founded and is run by a number of former SIG traders.

and they are good people. Good luck.


ClopeMan


Total Posts: 328
Joined: Jan 2007
 
Posted: 2007-11-02 22:56

had a few months experience in front office "IR/FX structured products quant group" of a bank not so long ago and would be interested to know how such a position could differ (in role and style and money) from a similar one at, say, SIG? (edit: or similar places, obviously)

cheers


twisted objective mind

Jurassic


Total Posts: 96
Joined: Mar 2018
 
Posted: 2018-07-10 20:04
How different are JSC and SIG to market making in a bank?

djfostner


Total Posts: 22
Joined: Oct 2008
 
Posted: 2018-07-11 00:40
I haven't spent any time working on a bank MM desk, so my compare/contrast might be light but if we're generalizing, I'd go out on a limb and say 'a fair amount'. SIG is an incredibly large firm, though some of the desks are very silo'd to the point of almost isolation. Their head count is ~1900 and they're involved in just about every market from the most liquid derivatives to small market sports betting and are known for having a very trader centric mentality. I have found all of the quants I've met from SIG to have all been top notch though (mostly options pricing/vol modeling/trading). Years ago when I was coming out of school their interviews were very rooted in risk/reward probabilities with an emphasis on games like poker. Jane Street on the other hand has become a massive ETF player and would probably be the closer of the two to a bank MM desk, given their direct MM business and liquidity pool, though SIG has client facing teams and revenue streams as well. I actually first heard about them from a friend at a bank who was trying to figure out their deal as they'd seem to come in periodically and bid on every muni bond on the call sheet for a day or two then disappear for weeks. They're a smaller head count at ~500 employees and I think their average employee tends to be a big more quanty than what you'd find at SIG or a bank, though each firms' employees are probably much more alike than they are different. It would also seem that the quant/trader/developer roles are a bit more fluid at JSC. Like SIG they also participate in a lot of different markets (though many of them via ETFs) and like SIG they are one of the few quant prop shops that seems comfortable with taking on very significant sized, but calculated risk exposure. This would be in contrast to a firm like Virtu that keeps their strategies, and their carried risk exposure as vanilla as possible. I think that's about all I know though. I'm sure there are a few folks here who could elaborate more, or perhaps could update my data which is probably a few years out of date at this point.
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