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Jane Street Market Prediction ($100k Kaggle competition)

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Re: Jane Street Market Prediction ($100k Kaggle competition)

#151

Post by nv-vn »

b20000 wrote: post #105
nv-vn wrote: post #6

Earlier quoted context omitted.

>Jane Street has spent decades developing their own trading models and machine learning solutions to identify profitable opportunities and quickly decide whether to execute trades. These models help Jane Street trade thousands of financial products each day across 200 trading venues around the world. >Admittedly, this challenge far oversimplifies the depth of the quantitative problems Jane Streeters work on daily, an…

why would they need to pay more? the nature of smart people is to undervalue themselves and to not negotiate, so as long as smart people keep doing that other people can take advantage of that.

Because they would hire the person in hopes of new ideas.

Re: Jane Street Market Prediction ($100k Kaggle competition)

#152

Post by jpetso »

kgwgk wrote: post #66
renewiltord wrote: post #43

Earlier quoted context omitted.

I have first party information, two years out of date. Do you have contradictory first party information? Yes/no will be sufficient for me to adjust my priors and I will be grateful.

Disclaimer: I have no first hand info. According to https://news.efinancialcareers.com/ch-en/307393/jane-street-... "Last year, Jane Street's graduate hires straight from college were said to be paid a $200k annual base salary, plus a $100k sign-on bonus, plus a $100k-$150k guaranteed performance bonus." According to random people in reddit https://www.reddit.com/r/cscareerquestions/comments/69k0ap/d... "somebody sai…

Am I the only one who thinks "$100k-$150k guaranteed performance bonus" is a weird concept?

I get how maybe "bonus" can count as "not salary" by being paid as lump sum. But "guaranteed" and "performance" going together? What's the deal here, even?!

Re: Jane Street Market Prediction ($100k Kaggle competition)

#153

Post by nv-vn »

nvarsj wrote: post #92
x87678r wrote: post #83

Jane Street is big in OCaml and CompSci worlds but the only guy I know who worked there did ETF arbitrage/redemption/creation which has to be one of the most boring businesses on the street. Is it worth working there (aside from the salaries)?

It depends what you're looking for. Best in class engineering and internet scale problems? Nope, you aren't going to find that at any hedge fund. They are much more like small start up cultures. Speed and results are favored over a mature engineering culture and maintainable code. Want to have the potential to make a large direct impact and make a crap load of money? Well then, a hedge fund may be a good fit.

Jane Street is not a hedge fund and they're pretty well-known for having a huge emphasis on high quality/maintainable code: https://www.youtube.com/watch?v=MUqvXHEjmus

Re: Jane Street Market Prediction ($100k Kaggle competition)

#154

Post by vatican_banker »

alexmingoia wrote: post #143

Late to the game. https://numer.ai is an entire hedge fund built around an anonymous ML prediction tournament. They solicit predictions, trade them, and reward the best performing ones. IIRC They’ve paid millions in prizes over the last few years. They also recently introduced Numerai Signals, where they pay for the performance of actual training data. So you can make money providing datasets that perform well.

Numerai’s intro video[1] makes pretty wild claims and seems to target a pretty specific group of people.

Personally I’m put off by the language used in the video.

Also

> Stake on your model to earn cryptocurrency

No thanks. I prefer dollars in my bank account.

1. https://youtu.be/GWeC2PK4yXQ

Re: Jane Street Market Prediction ($100k Kaggle competition)

#155

Post by Ragib_Zaman »

x87678r wrote: post #83

Jane Street is big in OCaml and CompSci worlds but the only guy I know who worked there did ETF arbitrage/redemption/creation which has to be one of the most boring businesses on the street. Is it worth working there (aside from the salaries)?

There's a spectrum of roles. The role you describe is that of a trader at the extreme end (little coding ability required, manual monitoring of strategies/opportunities). But there are many traders who spend a majority of their time doing data analysis and programming while monitoring mostly automated strategies out of the corner of their eye. There are researchers who focus purely on statistics and ML projects. Some even get to spend a good portion of their time reading papers, expanding their knowledge and doing basic research, not just applying their existing knowledge to financial datasets. There are also Devs. Some work on ultra low latency systems (though this is not Jane Streets expertise). Some work on Jane Street's OCaml compiler.

Apart from the OCaml compiler, everything else is fairly typical of the spectrum of roles you can find at the very large high frequency firms. And mid-sized firms are similar yet again, minus the basic research. I would say it is definitely worth working in this industry if anything above sounds interesting to you.

Re: Jane Street Market Prediction ($100k Kaggle competition)

#156

Post by Ragib_Zaman »

b20000 wrote: post #130
amelius wrote: post #119

Earlier quoted context omitted.

Do they actually produce something valuable for society, or is it just the trading profit they are after?

facebook doesn't produce any value for society either

Facebook's tendency to display content which reflect more extreme versions of the opinions that the user already has is probably a sizeable force behind our societies growing division. They know this, but they also know that type of content stops people from clicking off their site and drives up engagement, giving them more opportunities to advertise to you. They are a net negative to society.

Re: Jane Street Market Prediction ($100k Kaggle competition)

#157

Post by anonu »

usmannk wrote: post #24

As a frequent Kaggler (perhaps too frequent... it's a bit addicting, in a way I'm sure others on HN will understand), I was fairly intrigued to see this one pop up in the competition list a few days ago. Finance shops have tried their hand at Kaggle before, but I think they've normally been out of their domain. e.g. Two Sigma recently did a reinforcement learning game competition. I'd caution the HN crowd not to expe…

Can you comment on the specific setup of this kaggle competition? Versus other finance/trading related challenges?

Re: Jane Street Market Prediction ($100k Kaggle competition)

#159

Post by throwaway_dcnt »

jpetso wrote: post #152
kgwgk wrote: post #66

Earlier quoted context omitted.

Disclaimer: I have no first hand info. According to https://news.efinancialcareers.com/ch-en/307393/jane-street-... "Last year, Jane Street's graduate hires straight from college were said to be paid a $200k annual base salary, plus a $100k sign-on bonus, plus a $100k-$150k guaranteed performance bonus." According to random people in reddit https://www.reddit.com/r/cscareerquestions/comments/69k0ap/d... "somebody sai…

Am I the only one who thinks "$100k-$150k guaranteed performance bonus" is a weird concept? I get how maybe "bonus" can count as "not salary" by being paid as lump sum. But "guaranteed" and "performance" going together? What's the deal here, even?!

Think of this guaranteed bonus a retention tool (we see some churn after bonus period) - I also have 3 tiers/ratings for individual accomplishment and 3 for group. If you bag top tier for both, you are getting promoted plus the bonus is bigger than your base plus you get serious chunk in stock. It is nearly impossible to get top tier across and in my team of nearly a thousand people, I had three that did it.

Re: Jane Street Market Prediction ($100k Kaggle competition)

#160

Post by agravier »

whymauri wrote: post #132
basicneo wrote: post #42

By a similar argument to https://danluu.com/sounds-easy/ , no one will beat Jane Street in a weekend. Jane Street's hiring standards exceeds FAANG's. This is a hiring/branding strategy. Good luck to them.

Jane Street's interview was one of the funnest I've ever done. I failed but the questions were great!

What was so fun about it?
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