Jane Street, a Quantitative Trading firm with offices in New York, London and Hong Kong, is known to pay attractively to their Interns. Each year, many undergraduates majoring in Math and/or Computing apply for Jane Street's summer internship.
Types of Internship (from Jane Street's Internship website):
Work with experienced traders to find and analyze arbitrage strategies, hedge risk, and search for new opportunities. Trading interns usually split their summer between two different trading desks, and spend a week in one of our overseas offices.
Work with experienced dev mentors on projects that are wide-ranging and have real impact. Learn about trading through classes and build bots that compete on a simulated exchange. Past interns have built protocol compilers, hacked on the internals of our concurrency library, and built real-time visualization tools. Many intern projects are subsequently released as open-source.
Business Development Interns
Work with our business development, compliance, and operations teams to understand the regulatory and operational frameworks of various financial markets, and how they impact the implementation of the firm’s systems, processes, and trading strategies. Business development interns rotate through projects and mentors over the summer, and spend a week in our London office.
Construct mathematical models, learn about relevant academic research, explore new ideas, and execute studies using Jane Street’s massive research infrastructure.
Past interns have reported that the best part of the internship is the rich educational experience. Every week brings a mix of finance theory and technology classes, mock trading sessions, and guest speakers, on top of careful one-on-one mentoring with experienced traders and technologists.
According to Glassdoor, the average monthly pay in US$ for a Software Engineer Intern is as follows:
Jane Street: $10,416