At Jane Street, we take a rigorous, quantitative approach to trading on global markets, combining techniques from machine learning, distributed systems, programmable hardware, statistics, and applied mathematics. Our culture is steeped in games, puzzles, and challenging problems. With the Graduate Research Fellowship, we’re excited to support PhD students who share our values: technical excellence, intellectual curiosity, and humility.

See below for more details and feel free to direct questions to

Award details

  • Full tuition and fees will be fully covered for the academic year.
  • A $40,000[1] USD stipend will be provided to help with living expenses while in school.
  • Fellows will be invited (but not required) to visit New York City to give a talk on any topic of their choosing to Jane Street employees and other fellows; all expenses will be paid.


  • PhD students who will be in their 2nd to 6th year of a PhD program in mathematics, computer science, or statistics in the next academic year are eligible to apply.
  • Students must remain in good academic standing as an active, full-time member of their PhD program at a degree-granting university in the United States for the duration of the academic year of the award, or forfeit the award. Deferrals for medical/other reasons may be granted on a case-by-case basis.
  • International students studying at U.S. institutions are eligible and encouraged to apply! Please see below for details regarding university eligibility requirements.
  • Current employees (and their immediate family members) as well as former employees and interns are not eligible to become fellows or finalists, though they may be considered for honorable mentions.

Applications for the 2023 Graduate Research Fellowship (GRF) are now closed. Please check back in fall 2023 for details on next year's application process.

If you missed the deadline for the GRF but are interested in programming languages and compilers, we recommend taking a look at our open Tools and Compilers Research Internship. It’s intended for graduate students and can be hosted in our London and New York offices all year round.

University eligibility

In general, PhD fellowships require university-specific legal negotiations; we currently have arrangements with several institutions and are actively working on growing this list. Meanwhile, we are happy to award fellowships to students in programs at universities where we do not yet have an agreement in place. If accepted, we will work with your program to arrange the award of your fellowship. Universities must be accredited research institutions in the United States that award doctoral degrees.

Anti-discrimination notice

We do not discriminate against any individual on the basis of sex, race, creed, religion, color, gender, gender identity, gender expression, national origin, ancestry, physical or mental disability, medical condition, genetic information, marital status, registered domestic partner status, age, sexual orientation, military and veteran status, or any other basis protected by law.


I am currently starting my first year of graduate school, am I eligible to apply?


The area of math, computer science, or statistics that I’m pursuing is not obviously tied to trading/finance. Can I still apply?

Yes! We intend the Fellowship to support research in all math/cs/statistics-related areas, not only those parts which are related to trading.

I’m studying something that is not exactly math, computer science, or statistics, but is adjacent. Can I apply?

Absolutely. We recognize that borders between disciplines can be fuzzy, and that fields are often arranged differently at different universities. We are using these three fields to define an approximate academic umbrella rather than as being three separate and well-defined areas. If your work has significant overlap with one or more of these three fields, please feel free to apply.

Are international students eligible to apply for the fellowship?

Yes! International students who are studying at U.S. universities are welcome to apply.

I am a student at a university outside of the United States, can I apply?

Unfortunately not, but perhaps in future years we will be able to expand the fellowship! In the meantime, you are able to apply for an internship if you are interested. We have offices in New York, London, and Hong Kong.

I already have some other fellowships funding my graduate studies. Could this fellowship stack on top of those to some extent (i.e., would the stipend be in addition to those), or would it coordinate so only one applied at once?

Most likely your overall stipend would increase, but not by an additional $40,000. Academic funding rules and processes are quite complex, including that some universities enforce funding caps for students, so the answer will depend somewhat on what we are able to work out with your university. However, we are very happy to do this work, and existing funding will not exclude you, so please do not hesitate to apply.

When are applications due?

The deadline to pre-register (and fill out an initial, brief application) is October 15th. The complete application is due December 1st.

I am a faculty member and know a student that I’d like to apply for the fellowship. What should I do?

We’d love to hear from you! Please email us with contact information for the student you have in mind and we will reach out to them. Students may also apply directly.

[1] Note that stipends are taxable and may be subject to withholdings.

Our Programs and Events

Our programs and events are a chance for us to get to know each other. We look for curious people from any background with a passion for technology and creative problem solving. In other words, people like you.