Jane Street Graduate Research Fellowship (GRF)
- Omran Aburayya
- Oct 3
- 5 min read
If you are a doctoral student pursuing research in mathematics, computer science, physics, engineering, or statistics, the Jane Street Graduate Research Fellowship (GRF) is now open for applications. This fellowship provides generous support to outstanding PhD students, covering tuition, fees, and offering a substantial stipend. The 2026 application cycle is open until November 21, 2025 AoE.
Here’s everything you need to know about the fellowship, its benefits, eligibility, how to apply, and tips to strengthen your application.
🎓 Fellowship Summary
Name: Jane Street Graduate Research Fellowship (GRF)
Location: Award continues at your home PhD institution (in eligible countries)
Study Level: Doctoral (PhD)
Target Group: Current PhD students (or committed incoming PhD students) in relevant fields
Focus Areas: Electrical engineering, computer science, mathematics, physics, statistics
Value & Coverage:
Full tuition and fees for one academic year
US $45,000 stipend (or local equivalent) for living expenses
All finalists receive US $5,000; fellows receive this in addition to the stipend
Invitation (optional) to visit a Jane Street office and give a talk (expenses covered)
Duration: Typically one academic year (renewal not guaranteed)
Application Deadline: November 21, 2025
Recommendation Letters Deadline: December 2, 2025 AoE
Notification: Award decisions by February (the following year)
🧭 Fellowship Overview
While the GRF is primarily a funding award rather than a structured educational program, it includes some optional engagements and opportunities:
Visiting & Talk: Fellows may be invited to visit a Jane Street office to give a talk (on a topic of their choice) to Jane Street employees and other fellows — all expenses covered.
Recognition: All finalists are awarded US $5,000, giving recognition beyond just the top fellows.
Interaction & Networking: Being a fellow places you in a cohort of exceptional peers across institutions and disciplines. (Jane Street often highlights their recipients publicly)
Because the fellowship is at your home institution, you continue to pursue your PhD as usual; Jane Street does not require relocation or supervision.
🎁 Benefits
Financial support: Covers full tuition and fees + generous stipend to relieve financial burden.
Full tuition and fees for one academic year
US $45,000 stipend (or local equivalent) for living expenses
All finalists receive US $5,000; fellows receive this in addition to the stipend
Recognition and prestige: Being selected as a Jane Street fellow or finalist is a mark of distinction in competitive quantitative/technical fields.
Visibility & networking: Opportunity to present work to Jane Street staff and interact with a community of fellows and finalists.
Flexibility: International students and varied research topics are allowed — research doesn’t have to tie into finance or trading.
Support in funding coordination: Jane Street states that they are willing to coordinate with your university if there are existing funding constraints (for example, university caps on stipends)
✅ Eligibility Criteria
To apply, you must meet all of these:
Academic status
You should have at least one full year remaining in your PhD program (at the time you receive the award).
Or you must have committed to begin a PhD in Fall 2026 at a specific institution.
You must remain a full-time, active member of your PhD program in good academic standing during the award year.
The award could be forfeited if you leave or reduce enrollment (though deferrals or exceptions may be granted for medical/extenuating reasons).
Institution & location restrictions
The institution must be accredited and degree-granting, and located in the U.S., Canada, U.K., Europe, Australia, or New Zealand.
Deferrals may be considered on a case-by-case basis.
Field of research
Your PhD research should lie in (or strongly overlap with) one of these areas: electrical engineering, computer science, mathematics, physics, or statistics.
If your field is adjacent or slightly outside these domains but has clear overlap, it may still be acceptable.
No prior conflict of interest
Current or former Jane Street employees, or immediate family of such, are not eligible for fellowship or finalist.
International applicants
International students are explicitly eligible and encouraged to apply.
Other funding
Holding other fellowships or stipends does not disqualify you. However, Jane Street will coordinate with your institution to avoid overfunding or conflicts.
Reapplication
If you have been a finalist or honorable mention before, you can reapply.
📝 Application Procedure
To apply, you will need to submit electronically:
A CV or résumé (academic CV preferred).
A research statement (or proposed research direction). The statement should be understandable by a mathematically or technically inclined general audience — not specialized only to your subfield. ~1–2 pages is typical (but flexibility allowed).
Contact information for letter writers (you supply their names and emails). Jane Street will reach out to them; you can optionally notify them in advance.
(Optional as allowed) Additional context such as current funding, prior honors, or constraints at your institution. Jane Street mentions they'll coordinate when necessary.
📆 Timeline & Process
Application submission deadline: November 21, 2025 AoE
Recommendation letters due: December 2, 2025 AoE
Jane Street will reach out directly to letter writers.
Award notifications: Expected in February (of the cycle year)
If you face technical issues submitting, or your university doesn’t appear in their list, Jane Street offers alternative contact routes via email.
ℹ️ Additional Tips & Insights
Write accessibly: Because reviewers may come from different disciplines, make sure your research statement is clear even to those outside your specific niche.
Emphasize rigor and impact: Beyond showing novelty, emphasize your methods, technical challenges, and how your work pushes boundaries.
Notify letter writers early: Since Jane Street reaches out to them directly, giving them a heads-up helps ensure timely letters.
Address existing funding: If you already have a stipend or fellowship, include that context so Jane Street can coordinate rather than cause conflicts.
Show alignment with quantitative thinking: Even if your research is “pure math” or not obviously tied to finance, highlight the quantitative, analytical, or algorithmic aspects. Jane Street explicitly supports broad technical work, not just finance-related fields.
Reapply if needed: Being a finalist or honorable mention doesn’t bar you. Subsequent stronger work may succeed.
Track past recipients: Reviewing the profiles of previous fellows and finalists can help you understand the caliber and diversity of accepted research.
🚀 Why This Fellowship Matters
It’s rare to find a fellowship that covers both full tuition/fees and provides a substantial stipend while allowing you to remain at your home institution.
The flexibility in research topics and inclusion of international applicants broadens opportunities, especially for students in less common or interdisciplinary fields.
Because it is offered by a quantitative trading firm, it also gives visibility and potential networking opportunities with industry — even though the fellowship is research-oriented.
