Jane Street contacted me 4 days after I applied for the position. After explaining the position to me, they sent me an Excel task about haircuts and stocks, which involved reading through materials and creating a spreadsheet to calculate the required results.
The next stage was a 45-minute phone call where they asked me a series of mathematical and statistical questions. The questions were fairly simple, and if you have a good understanding of mathematics, then they shouldn't be tricky.
They then sent over a VBA task for me to complete. I hadn't used VBA before, so this was a slightly longer task. I sent it back after a couple of days of work on it, and they invited me to the final interview.
The final interview was a long day of speaking to Jane Street employees. It would have been on-site, but due to the situation, it was all done through online video calls. The day consisted of:
1. A pseudo-code exercise
2. A discussion about stocks, tables, and the data structure of it all
3. A Q&A with a couple of employees where I got to ask questions
4. A discussion about the flow of stocks on the market.
They informed me that the order of these segments was altered for me because of scheduling with the employees, and I found that the 2nd segment confused me for the 4th because it introduced concepts that weren't needed for the 4th segment. The last one felt like the most introductory of them all, so I went into it overcomplicating it. I informed them about this.
I received an email letting me know I was unsuccessful the next day.
Ultimately, I went into the interviews under the impression that no knowledge about stocks or programming was needed (it was a graduate position and I am a graduate), but since I got rejected as the "technical aspects" let me down, I imagine they were actually looking for someone with experience in stocks and in programming.
They sent me a free branded gift as they would have done for an actual on-site interview, which was nice, but of course, isn't that useful to me now.
The contact I spoke to along the way was nice, and only a couple of the employees during the interview felt condescending (in the 2nd segment).
Overall, it was a long application process that I spent ~12 hours on, which I understand is necessary for a position in a significantly successful company. However, I felt the odds were stacked against me when they clearly only wanted someone with a strong foundation to the financial market and programming, instead of just an "exposure" like they ask for, especially for a New Grad position.