There are three main components of the Jane Street curriculum:
In a typical week, we have a finance theory class, one or two simulated trading sessions, and a game playing session. Most classes last about an hour, and start after major markets have closed.
Senior traders teach weekly finance theory classes on a wide variety of subjects, from highly practical subjects to abstract research topics.
Recently, some of our class topics have included:
- Introduction to Financial Instruments
- Futures and Commodities Arbitrage
- Options Valuation
- Portfolio Theory
- Bootstrapping the Yield Curve
- Visual Basic (VBA) for Beginners
- The Kelly Criterion
- Game Theory
- Decision Theory and Cognitive Biases
- Thinking About Extreme Risk and Derivative Valuation
Our simulated trading ("mock trading") program teaches new employees the basics of market making, securities arbitrage, and how to make decisions under pressure and uncertainty. Students compete with each other to make markets in simple derivatives such as options and exchange-traded funds, with senior traders offering feedback on the theory and practice of trading.
We’ve always used card games as a tool to teach game theory and an understanding of risk to new traders. Games like bridge require discipline, a good memory, basic quantitative skills, and knowledge of game theory to play well. We also find that card games become a great social outlet.