Cracking the Probability Code: How to Ace Interviews at Top Electronic Trading Firms
Do you aspire to join the ranks of elite traders at Jane Street or Citadel Securities, where salaries soar into the millions? Landing a job at these prestigious electronic trading firms is no easy feat, as their interview processes are notoriously challenging.
According to insights from sites like Glassdoor and Wall Street Oasis, these firms are known to pose perplexing and unconventional questions to assess candidates’ probability skills under pressure.
Jane Street Interview Questions
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Imagine bidding for a treasure chest priced between $0-$1000 with a friend willing to buy it from you for one and a half times its value. What should your bid be?
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In a game where you roll a 100-sided die against an opponent, what’s your optimal strategy for doubling your roll for $0.2?
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How many times must you roll a six-sided die to get each face at least once?
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What’s your betting strategy in a two-horse race where others bet on the horse with the most past wins?
These questions often have multiple parts, testing your ability to respond to adversity and think critically under pressure.
Citadel Securities Interview Questions
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How can 100 prisoners ensure their release by guessing if they’re the last to enter a room with a lightbulb?
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How would you calculate the revenue of a company like Peloton without data?
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What’s the market estimation for the longest tennis match or English Premier League goal difference?
Citadel Securities may also task candidates with making markets on various topics to gauge their analytical skills.
Jump Trading Interview Questions
While Jump Trading focuses less on brainteasers, candidates should still be well-versed in probability fundamentals. Some quirky questions include:
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What percentage of time does a bee spend in a hive with specific movement probabilities?
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What’s the optimal strategy for winning a card game by stopping at the right moment?
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How many iterations are needed to ensure all four balls are the same color in a selection process?
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What’s the probability of two people sharing a birthday in a room of 15?
Mastering Probability in Quant Interviews
While these questions may have definitive answers, the process of arriving at them is crucial. Firms like Jane Street value candidates who can uncover hidden insights and think creatively.
For instance, Jane Street’s Sam Bankman-Fried once tackled a question about the likelihood of an interviewer’s relation to a baseball player. His approach highlighted the importance of exploring unique angles in data interpretation.
Remember, brainteasers are just a part of the interview puzzle. Behavioral questions and coding tasks tailored to your role are equally significant.
For more insights on high-frequency trading internships and interview questions, visit here.
