I applied through university. The process took 4 weeks. I interviewed at Jane Street (New York, NY) in Jan 2014
Interview
Within a week of submitting my application I received an email with three exercises. Two were on haircuts and the last was exercises that displayed your ability to work with excel. The next step was a 30-min phone call that was highly quantitative and consisted of a series of mental math questions and probability questions.
Interview questions [1]
Question 1
In the World Series, the probability the baseball teams make it to the 7th game.