[caddemon]

That's not Jane Street's process at all. I know first hand people from schools you've never even heard of that got internship offers, and I also know first hand people from MIT that got resume screened out. I'm not going to claim that there is no school bias at all, I don't know the finer details - but it's definitely not explicit as you describe. There are a lot of comments all over the internet (including this thread) from people at non-target schools that were interviewed.

There are some trading companies that do seem to legitimately do that kind of filtering (Two Sigma's application has a drop down menu for school with like 10 options and then "Other", DE Shaw asks for your SAT score, etc.). So I can see where the idea came from, but it's not true of JS.

[22SAS]

In the trading industry, DE Shaw and Five Rings are the two places that care about school prestige well into someone's career. All other firms don't give a crap about it once someone has some experience.

I went to a crap school in India and a mediocre US school for my grad work, still got interviews at trading firms as a new grad and an industry hire. Currently working at one right now, so I can say that I have seen it first-hand.

[peterhadlaw]

I have proof otherwise that can probably be replicated if need be. I can DM you the details. Granted this was a few years ago so hopefully they've matured since then.