The Graduate Research Fellowship is run by Jane Street, a quantitative trading firm whose work draws on machine learning, distributed systems, programmable hardware, statistics and applied mathematics. It supports doctoral students in electrical engineering and computer science, mathematics, physics, and statistics for one academic year.
Fellows stay at their own university and keep working on their own research. Jane Street states that it supports research in all areas of these four fields, not only the parts connected to trading.
The firm names three qualities it looks for: technical excellence, intellectual curiosity, and humility. Fellows are also invited, though not required, to visit a Jane Street office and give a talk on a topic of their choosing.
Benefits & funding
- Full tuition and fees covered for the upcoming academic year.
- A $45,000 USD stipend, or the equivalent in local currency, toward living expenses while completing the PhD.
- An optional all-expenses-paid invitation to visit a Jane Street office and give a talk on any topic to employees and other Fellowship recipients.
- Every Finalist receives a $5,000 monetary award.
Eligibility
- PhD students with at least one year remaining in a program in electrical engineering and computer science, mathematics, physics, or statistics.
- Applicants who have committed to commence a PhD program at a specified university in the Fall of the award year are also eligible.
- The university must be a degree-granting accredited research institution in the United States, Canada, the United Kingdom, Europe, Australia, or New Zealand.
- Students must remain in good academic standing as an active, full-time member of the PhD program for the whole award year, or the award is forfeited.
- No nationality requirement: Jane Street states that international students are eligible and encouraged to apply.
- Students in their first year of graduate school are eligible.
- Adjacent disciplines are welcome — Jane Street treats the four named fields as an approximate academic umbrella and invites applications from work with significant overlap.
- Holding another fellowship does not disqualify an applicant; Jane Street works out the combined funding with the university, subject to university funding caps.
- Past Finalists and Honorable Mentions may reapply.
Can you apply?
Here's who can apply
Decoded from the official rules. A free account checks them against your passport, degree and age in seconds.
Education required
PhD Enrolled · Master · Bachelor
Circlebreaker is a free database of global fellowships, scholarships and programs — every one decoded like this.
We only check the criteria we have data for. Always confirm full eligibility on the official page before applying.
Application process
- 1Apply through the Fellowship page on the Jane Street site while the cycle is open.
- 2Submit a CV or resume.
- 3Submit a brief statement explaining your research or proposed research direction.
- 4Provide contact information for your letter writer(s), who submit their letters by the separate letter deadline.
- 5Wait for the award notifications, which Jane Street schedules for February.
Program timeline
Student application deadline (most recent cycle)
Nov 21, 2025
Recommendation letter deadline
Dec 5, 2025
Award notifications
2026-02
Funded academic year begins
Fall 2026