The Disturbing Reality of Prop Firm Clout Chasing (Confessions of a Jane Street Trader)

Last month, I visited my old middle school and a few local high schools to give talks on career paths, focusing on my experience in quantitative finance. As I sat down to prepare my presentation, I couldn't help but feel a pang of frustration. In recent years, it seemed like everyone was not only talking about their dream school, but also obsessing over getting into their dream prop trading firm like Jane Street or HRT. I found this fixation a bit disheartening, especially considering that many of these students were not yet qualified for these highly competitive roles.

The first student I spoke with was a really intense-looking 16-year-old named Jiahao. He had a strong Chinese accent and seemed to have little joy in his eyes. As we chatted about his goals, I asked him about his math ability, trying to gauge his readiness for a career in quantitative finance. Jiahao insisted that mathematics and programming weren't important for the field, and we spent over thirty minutes debating the topic. When he finally admitted that he hadn't broken even 70 on the AMC10, I couldn't help but feel like a jerk. I tried to reassure him that he didn't need to worry about quant jobs at this stage, but he stubbornly argued that HRT was the only worthwhile firm, and that places like Jane Street were Tier 3 at best, while Optiver was Tier 5. I found his presumptuousness off-putting, to say the least.

This wasn't the only frustrating interaction I had during my school visits. A friend of mine claimed that his higher GPA in math classes made him more deserving of a job in quantitative finance, even though he had only taken precalculus. I tried to explain that math ability isn't just about GPA, but also understanding concepts like expectation and probability. He dismissed these ideas as middle school concepts and insisted that calculus was the key to impressing interviewers. I asked him to integrate x^2 from 0 to 1, but he deflected, arguing that book smarts didn't translate to trading smarts. He claimed that his crypto trading experience was proof of his worthiness, while my expertise in statistics was just a minor skill. Our conversation devolved from there, with him invoking the Dunning Kruger effect without really understanding it, leaving a sour taste in my mouth.

As if these encounters weren't disheartening enough, I stumbled upon a TikTok video of a guy claiming that he wanted to pursue quantitative finance for the $400,000 salaries. His friends chimed in, insisting that it was easy as long as you networked. I couldn't help but feel disturbed, knowing that I didn't land any interviews until I highlighted my top performances in various olympiads, like USACO, USAPhO, and NACLO. The next day, I received a DM from my ex-girlfriend's younger brother, asking for advice on getting into a Tier 1 quant firm like TGS. He brushed off my experience at Jane Street as irrelevant, claiming the firm was "in the dumps."

I can't help but feel like the focus on prestigious firms and high salaries is leading students astray. It's as if they're only interested in the most expensive cut of steak without realizing that it might not be the best choice for them, or even kosher. As a Jewish person, I understand the importance of making choices that align with our values and abilities, rather than being swayed by external factors.

I'm left wondering how to address these issues when talking with students. How can I encourage them to pursue their passions and develop their skills without focusing solely on prestige and money? How can I help them see the bigger picture and make more informed choices? I'd appreciate any advice on this end. Thanks!