Earlier quoted context omitted.
Dunno about this, I did my MSc at McGill and got interviewed by Jane Street (twice).
That's a really good uni, no?
My understanding is that it's basically the Canadian Harvard. Is the reputation worse than I thought?
What the interns have wrought, 2022 edition
41–50 of 81 posts
Re: What the interns have wrought, 2022 edition
#42Is anyone else blown away by the level of talent in this younger cohort nowadays? We have interns and juniors doing solid mid level work.
Re: What the interns have wrought, 2022 edition
#43Jane Street discriminates based on what school you went to, during their hiring practices.
Software development is an outlier in that companies don't tend to care where you went to school. Lots of firms on Wall Street will only hire from a few schools, or sometimes even a single school. It makes sense Jane Street would be somewhere in between.
The rub is that their discrimination practices seem to care more about prestige over quality of CS programs.
Sure, go ahead and use quality of school as a filter, but don't go around discriminating against top public schools while accommodating what are honestly fairly mediocre CS programs at certain Ivies / prestige-private-schools.
Re: What the interns have wrought, 2022 edition
#44I wish this evil company would stop spamming the internet for PR.
Re: What the interns have wrought, 2022 edition
#45Earlier quoted context omitted.
Why? That seems like a dumb way cutting of potentially very talented candidates. Seriously it removes over 90% of candidates, if not more. That seems unsound.
The goal is to hire efficiently, not hire every single qualified candidate. If 10% of MIT graduates are qualified but only 1% of graduates from a no-name school are qualified, why spend 10x the effort to try to recruit from the latter?
Given that they may only hire a handful of interns each year, then that actually makes sense.
Re: What the interns have wrought, 2022 edition
#46Jane Street discriminates based on what school you went to, during their hiring practices.
When I graduated I interviewed with Jane Street and I graduated from essentially a no-name state school (Suny Oswego). I think I got a fair shake out of it.
Hardly no-name: that's where Doug Lea teaches! I've been seeing Oswego on his papers forever.
Re: What the interns have wrought, 2022 edition
#47Earlier quoted context omitted.
Software development is an outlier in that companies don't tend to care where you went to school. Lots of firms on Wall Street will only hire from a few schools, or sometimes even a single school. It makes sense Jane Street would be somewhere in between.
The rub is that their discrimination practices seem to care more about prestige over quality of CS programs. Sure, go ahead and use quality of school as a filter, but don't go around discriminating against top public schools while accommodating what are honestly fairly mediocre CS programs at certain Ivies / prestige-private-schools.
They are not discriminating by quality of CS program. They are using exclusivity of a school as a proxy for some combination of potential and pedigree.
Re: What the interns have wrought, 2022 edition
#48Earlier quoted context omitted.
it's probably more like if your school isn't an ivy, stanford, mit, whatever you're resume goes right in the trash. also that logic is super self perpetuating and I imagine could be used to justify other worse forms of discrimination (not saying at Jane Street but in general)
That's fine. Considering the business Jane Street engages in is highly competitive (maybe even the most competitive in the world), if their hiring practices cause them to have lower productivity, the market will force them to correct their practices or go out of business. In fact, historical evidence shows amply that the more competitive an industry, the less discrimination (of the sort that we talk about now, like o…
A classic rebuttal : https://danluu.com/tech-discrimination/
Re: What the interns have wrought, 2022 edition
#49They have the only podcast worth a shit too.
Re: What the interns have wrought, 2022 edition
#50Earlier quoted context omitted.
it's probably more like if your school isn't an ivy, stanford, mit, whatever you're resume goes right in the trash. also that logic is super self perpetuating and I imagine could be used to justify other worse forms of discrimination (not saying at Jane Street but in general)
That's fine. Considering the business Jane Street engages in is highly competitive (maybe even the most competitive in the world), if their hiring practices cause them to have lower productivity, the market will force them to correct their practices or go out of business. In fact, historical evidence shows amply that the more competitive an industry, the less discrimination (of the sort that we talk about now, like o…
Independent of Jane Street, this is absolutely not true of investment or finance as a whole: there are dozens of large firms where entire management layers are made up of the corporate equivalent of "legacy" admissions.
Finance isn't a purely deductive field: you can't purely compete and reason your way past dumb luck and overwhelming access to liquidity. Institutional players have both, and are more than happy to hire their top performers' mediocre sons and nephews to keep them happy.