5 ms·

Both SBF and the other person were glorified interns and got position based upon their parents network.

whimsicalism 4y ago
Doubt it, unless you have evidence otherwise. Jane St (unlike customer-facing finance firms, like Goldman Sachs) does not really engage in this style of nepotism hiring that I know of. More likely is that the child of prominent academics might actually be more intelligent than average themselves and certainly provided more opportunity to flourish.
- factsarelolz 4y ago
  Could you detail SBF's experience that would have opened doors to him at Jane St without nepotism? I ask because I can't find any evidence to show how he was able to get into that position. Thanks for the guidance and I look forward to your reply.
  - whimsicalism 4y ago
    He went to MIT and interned there. I'm confused as to what you are asking - Jane St certainly hires plenty of people out of college not for nepotism reasons. The fact that he did not have a prior job before college is not evidence he was hired for nepotism. Let me guess - he also got into MIT through nepotism as well.
    - stefan_ 4y ago
      His parents are professors at Stanford. So yeah, of course he did.
      - whimsicalism 4y ago
        Gotcha and thanks for being upfront about your reasoning. I'll let others decide on whether they find that reasoning convincing!
        hutzlibu 4y ago
        You "got" a different poster, though.
      - eddsh1994 4y ago
        What was his GPA at MIT? Did his parents jobs get his exams marked higher?
        whimsicalism 4y ago
        Can't tell if you are being earnest but as someone who majored in CS at a HYPSM, I can tell you there is literally no chance that this occured. I know kids who definitely got in because of parents money, but it certainly did not impact their grading.
        NtochkaNzvanova 4y ago
        I would exclude MIT from that list, but the rest of those schools basically have a huge reputation for grade inflation -- i.e., once you get in, you won't be given a bad GPA because you're paying so much. Grading people legitimately based on competence would piss of the parents/donors too much. Curious to hear your take on this.
        whimsicalism 4y ago
        My impression is that grade inflation is definitely a thing, I am not so sure that it is for the reasons you suggest (pissing off parents/donors/people paying for degree). What grade inflation really means is that for many, if not all, majors at a school like Harvard, you can take a path of classes that will end up with you completing your major and having a high GPA. That said, there are certainly classes that will be much less nice to you when grading and have a self-selected group of students. My guess is that if JS has enough people from, say, Harvard, they will know the difference between a student who took hard upper level courses to complete their major vs. just the simple basics. In terms of why this grade inflation is so prevalent, one reason I think is that faculty want to have students in their courses/run a "superstar" course, and students select classes with the easiest grading policy. Schools like MIT (and Princeton as well) specifically combat this and so are known for grade deflation.
        eddsh1994 4y ago
        I was being sarcastic because I'm pretty sure it would not impact it in anyway.
  - 22SAS 4y ago
    Most of JS's trading interns and new graduate hires, are STEM grads at HYPSM schools. SBF going to MIT gave him a big leg up.
  - zucker42 4y ago
    From what I've heard about Jane Street interviews from people who interviewed there for intern and new grad positions, they involve solving mathematical puzzles about probability, statistics, and betting. I know multiple people who were invited to onsite interviews, including in one case for a trading position, who were in progress on math and computer science degrees, and had no specific finance knowledge. I also know people who have done trading internships at other firms with no finance experience. It seems entirely reasonable to me that Jane Street would consider a Bachelor's degree from MIT in math or computer science, being clever, and a prior internship at Jane Street as qualification to work at Jane Street.
- asdfqweqe12 4y ago
  Youre all over this thread defending Jane Street. > Jane St (unlike customer-facing finance firms, like Goldman Sachs) does not really engage in this style of nepotism hiring that I know of. Wow i'm sold.
  - whimsicalism 4y ago
    Because it's a comment thread I find interesting, I made 4 or so comments related to Jane St, 2 of which are replying to people replying to me. I promise you I have no affiliations with JS whatsoever, just think that there is lots of sloppy reasoning going on in this thread.
    - hnfong 4y ago
      > I promise you I have no affiliations with JS whatsoever Makes your claim unconvincing though. At least if you had worked there you might be in a position to make a claim either way.
      - whimsicalism 4y ago
        Well I went to a major feeder school and know a lot of people hired by JS. The class of people hired by firms like Goldman Sachs is obviously nepotistic in nature and very different from the class that JS hires. A substantial portion of the GS mix is athletes & what I would call traditional Northeast elites, Jane St hired mostly out of the top physics, CS & applied math classes I was in. Beyond that, having parents who are prominent professors is nothing special at these schools and definitely would not give you pull at these institutions. Finally, Jane St has no incentive to engage in this sort of hiring because they are not customer/client facing.
  - naijaboiler 4y ago
    Hahahah its the funniest thing I ever read. Some people are so doggedly invested in the believing myth of meritocracy. Yeah right a private firms hiring is totally meritocratic.
  - unmole 4y ago

Doubt it, unless you have evidence otherwise. Jane St (unlike customer-facing finance firms, like Goldman Sachs) does not really engage in this style of nepotism hiring that I know of. More likely is that the child of prominent academics might actually be more intelligent than average themselves and certainly provided more opportunity to flourish.

factsarelolz 4y ago
Could you detail SBF's experience that would have opened doors to him at Jane St without nepotism? I ask because I can't find any evidence to show how he was able to get into that position. Thanks for the guidance and I look forward to your reply.
- whimsicalism 4y ago
  He went to MIT and interned there. I'm confused as to what you are asking - Jane St certainly hires plenty of people out of college not for nepotism reasons. The fact that he did not have a prior job before college is not evidence he was hired for nepotism. Let me guess - he also got into MIT through nepotism as well.
  - stefan_ 4y ago
    His parents are professors at Stanford. So yeah, of course he did.
    - whimsicalism 4y ago
      Gotcha and thanks for being upfront about your reasoning. I'll let others decide on whether they find that reasoning convincing!
      - hutzlibu 4y ago
        You "got" a different poster, though.
    - eddsh1994 4y ago
      What was his GPA at MIT? Did his parents jobs get his exams marked higher?
      - whimsicalism 4y ago
        Can't tell if you are being earnest but as someone who majored in CS at a HYPSM, I can tell you there is literally no chance that this occured. I know kids who definitely got in because of parents money, but it certainly did not impact their grading.
        NtochkaNzvanova 4y ago
        I would exclude MIT from that list, but the rest of those schools basically have a huge reputation for grade inflation -- i.e., once you get in, you won't be given a bad GPA because you're paying so much. Grading people legitimately based on competence would piss of the parents/donors too much. Curious to hear your take on this.
        whimsicalism 4y ago
        My impression is that grade inflation is definitely a thing, I am not so sure that it is for the reasons you suggest (pissing off parents/donors/people paying for degree). What grade inflation really means is that for many, if not all, majors at a school like Harvard, you can take a path of classes that will end up with you completing your major and having a high GPA. That said, there are certainly classes that will be much less nice to you when grading and have a self-selected group of students. My guess is that if JS has enough people from, say, Harvard, they will know the difference between a student who took hard upper level courses to complete their major vs. just the simple basics. In terms of why this grade inflation is so prevalent, one reason I think is that faculty want to have students in their courses/run a "superstar" course, and students select classes with the easiest grading policy. Schools like MIT (and Princeton as well) specifically combat this and so are known for grade deflation.
        eddsh1994 4y ago
        I was being sarcastic because I'm pretty sure it would not impact it in anyway.
- 22SAS 4y ago
  Most of JS's trading interns and new graduate hires, are STEM grads at HYPSM schools. SBF going to MIT gave him a big leg up.
- zucker42 4y ago
  From what I've heard about Jane Street interviews from people who interviewed there for intern and new grad positions, they involve solving mathematical puzzles about probability, statistics, and betting. I know multiple people who were invited to onsite interviews, including in one case for a trading position, who were in progress on math and computer science degrees, and had no specific finance knowledge. I also know people who have done trading internships at other firms with no finance experience. It seems entirely reasonable to me that Jane Street would consider a Bachelor's degree from MIT in math or computer science, being clever, and a prior internship at Jane Street as qualification to work at Jane Street.
asdfqweqe12 4y ago
Youre all over this thread defending Jane Street. > Jane St (unlike customer-facing finance firms, like Goldman Sachs) does not really engage in this style of nepotism hiring that I know of. Wow i'm sold.
- whimsicalism 4y ago
  Because it's a comment thread I find interesting, I made 4 or so comments related to Jane St, 2 of which are replying to people replying to me. I promise you I have no affiliations with JS whatsoever, just think that there is lots of sloppy reasoning going on in this thread.
  - hnfong 4y ago
    > I promise you I have no affiliations with JS whatsoever Makes your claim unconvincing though. At least if you had worked there you might be in a position to make a claim either way.
    - whimsicalism 4y ago
      Well I went to a major feeder school and know a lot of people hired by JS. The class of people hired by firms like Goldman Sachs is obviously nepotistic in nature and very different from the class that JS hires. A substantial portion of the GS mix is athletes & what I would call traditional Northeast elites, Jane St hired mostly out of the top physics, CS & applied math classes I was in. Beyond that, having parents who are prominent professors is nothing special at these schools and definitely would not give you pull at these institutions. Finally, Jane St has no incentive to engage in this sort of hiring because they are not customer/client facing.
- naijaboiler 4y ago
  Hahahah its the funniest thing I ever read. Some people are so doggedly invested in the believing myth of meritocracy. Yeah right a private firms hiring is totally meritocratic.
- unmole 4y ago