Practice · Quant prep · DRW
DRW interview process
DRW asks for a CV and nothing else at the start, then puts a timed technical challenge in front of almost everyone. Whether that challenge is probability or coding depends on the role, so read the advert before you prepare.
The process, from DRW's own pages
- Applying. Only your most recent CV is needed. Applications are reviewed on a rolling basis, so the firm encourages applying early. Source
- Technical challenge. Completed remotely under timed conditions: a quantitative challenge on probability and logic, or a coding challenge on fundamental computer science, depending on the role. Source
- Zoom interview. A conversation with a developer, quantitative trader or researcher, covering technical and behavioural questions. Source
- Final round. Day one starts in the afternoon with introductions and a technical challenge; day two is a full day of technical and behavioural interviews. Source
- Flexibility. The firm says the process may differ slightly from case to case. Source
What candidates report
Candidates for developer roles describe a proctored coding test, often on Codility, and finals heavy on C++, operating systems and networking. Trading candidates describe probability and logic questions, mental arithmetic and a request to discuss recent market moves.
What DRW states it pays
Base pay as written in DRW’s own job adverts for the 2027 cycle, before any bonus. Internship figures are annualised rates; the internship itself lasts a summer.
| Role | Where | Stated base pay | |
|---|---|---|---|
| Quantitative Trading Analyst Intern | Chicago | $250,000 a year | Advert |
| Quantitative Research Intern | Chicago, New York | $250,000–$300,000 a year, depending on experience | Advert |
PDF · Edition 2 · £79
The Quant Careers Report
DRW’s process step by step and the pay it states in its adverts, side by side with 12 other trading firms, plus when to apply and five timed practice papers with worked solutions.
What DRW is testing
The quantitative challenge is about probability and logic under a clock, so speed matters, but not at the cost of reading the question: problems are often built so that the obvious approach counts something slightly different from what was asked.
The two-day final rewards consistency. The second day is long, mixes technical and behavioural rounds, and is often with people from the desk you would join, so they will ask why you want that desk and what you think about its markets.
Six practice problems
Written by us to match the types DRW is publicly reported to ask. None is a copy of any question DRW has used.
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You roll a fair die until you have seen every even face, 2, 4 and 6, at least once. What is the expected number of rolls?
Show the answer
11
Wait for the first new even face (probability 3/6 per roll, so 2 rolls on average), then the second (2/6, so 3 rolls), then the last (1/6, so 6 rolls): 2 + 3 + 6 = 11. It is the coupon collector's problem with three coupons hidden among six faces.
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A coin is tossed until it lands tails, and you are paid the square of the number of heads before that, in pounds. What is a fair price for the game?
Show the answer
£3
The number of heads H satisfies P(H = k) = 1/2^(k+1), with mean 1 and variance 2. So E[H²] = Var(H) + E[H]² = 2 + 1 = 3. The square makes the payout depend on the tail far more than the mean does: £1 is the fair price for the number of heads itself.
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A bag holds ten coins, one of them with heads on both sides. You pick one at random and toss it four times; it shows heads every time. What is the probability it is the double-headed coin?
Show the answer
16/25 = 0.64
Bayes: (1/10 × 1) / (1/10 × 1 + 9/10 × 1/16) = 0.1/0.15625 = 0.64. Four heads multiply the odds in favour of the double-headed coin by 16, from 1:9 to 16:9.
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Without a calculator, estimate √50 to two decimal places.
Show the answer
7.07
√50 = 5√2 ≈ 5 × 1.4142 = 7.071. Alternatively, start from 7² = 49 and add 1/(2 × 7) ≈ 0.071. Knowing √2, √3 and the first-order correction covers most square roots asked in a mental-maths screen.
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Two fair dice are rolled. What is the expected value of the square of their total?
Show the answer
329/6 ≈ 54.83
E[S²] = Var(S) + E[S]². The total has mean 7 and variance 2 × 35/12 = 35/6, so E[S²] = 35/6 + 49 = 329/6. A market on the square of the total should be centred near 54.8, not 49, which is where people who square the mean put it.
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Two cards are drawn from a standard deck without replacement. What is the probability that the second has a higher rank than the first?
Show the answer
8/17 ≈ 0.471
The second card has the same rank with probability 3/51. Otherwise higher and lower are equally likely by symmetry, so the probability is (1 − 3/51)/2 = 24/51 = 8/17.
Practise under time
Trading first round: Ten questions across probability, puzzles and expected value, 30 minutes.
How to prepare for DRW
Find out from the advert whether your challenge will be quantitative or coding, and practise that one under a clock. For trading roles, keep up with a few markets you care about so you can talk about them on day two. For developer roles, revise C++, operating systems and networking alongside algorithms, since the final goes beyond coding problems.
Have a DRW challenge or final coming up? The strategy hour tells you where you stand against that bar and what to fix first. What the hour covers, £250.