Ken Griffin’s Financial Companies Extended Invites to Less Than Half a Percentage Point of Applicants for the Firms’ 2025 Summer Internship Program.
Read that again if you need to.
Citadel, A Hedge Fund, and Its Sister Firm Citadel Securities, A Market Maker, Accept JUST 0.4% of Students Who Applied for This Year’s Summer Training Program. It ‘s record level of exclusiVity Eve for a pair of firms know for recruitment only the brainiest Quants and Traders.
One Reason May Be the Record Number of Applicants, 108,000 Across the Two Firms – Up 20% From Last Year.
The Group of More than 300 Students Will Start Their 11-Week Training Next Week. Citadel Interns Will Kick off the Summer with a Trip to Fort Lauderdale, Florida. Interns at the market Maker Will Take a Trip to Palm Beach, Florida, Later This Summer. They hail from 80 schools Worldwide.
Bi got an exclusive look inside the demographics of the Cohort, Including which universities they have Attend and their Areas of Study. We Also spoke with the firms’ dedicated Campus recruiters, Matt Mitro with Citadel and Fabian Figi with Citadel Securities, About the Increas Interest and How they Evaluate Intern Success.
The Record Low Acceptance Rate at Griffin’s Trading Empire is just the latest example of how the path to a Career on Wall Street has become more computitive. Investment Bank Goldman Sachs ALSO BOASTED OF RECORD LOW ACCEPTANCE RATES LAST YEAR. Campus Finance Clubs, Which Help Students Prepare for Industry Recruiting, have adopted cutthroat entrance processses.
“Citadel and Citadel Securities in Particular, and the Quantitative Finance Industry More Broadly, have Become a Destination for Top Students Worldwide,” Said Figi, The Head of Campus Recruiting at the Market Maker. “Our internship program is one of the Our Most Important Pipelines of Talent.”
Citadel Interns Collaboting During A Group Activity in the Early Days of Last Summer’s Internship Program.
Citadel
Incresed interest
Mitro Said They’ve Seen an “Exponential Increase” in Application Volume Over the Years, and Attributes This Year’s High in Part to the Firms’ Becoming “Better Understood” on College Campus.
“We are Thinking About Where Students Are Engaging and We’re Trying to Be Present with say. Thats a Big Initiative for us,” He Said, Adding, “You are Seeing Things Like Senior-Most on Campus Spending Time and Talking to say so. level. ”
The Outreach Comes as More Hedge Funds Estabish Pipelines to Recruit Talent Directly from College Campus in Addition to Investment Banks, WHICH is where they traditionally recruited junior talent.
Citadel Launched a program CALLED CAP IN 2020 TO FAST-Track College Juniors Into Associate roles with a year and a half. Ballyasny, a Competitor, recently Started a New Stock Pitch Competition Aimed at Recruiting Sophomores for Summer Internships, and Eventually Jobs.
In that vein, griffin recently visited Stanford, The University of Cambridge, and Oxford University. This Spring, Citadel Securities’ CEO, Peng Zhao, Attended Events at Harvard, MIT, Stanford, and Berkeley.
Other student programs the firms have established include a “Trading Invitational” for Undergrads to Get A Taste of the Life of A Quant Trader, and a New “Macro Central Bank Challenge” Where teams propose a monetary policy recommendation and present findings.
Citadel Securities’ Chief People Officer, Alex Dileonardo, and CEO hostage Zhao Talking to a Previous Intern Class.
Citadel Securities
Return offers & intern evaluation
Next Week, The 2025 Class Will Embark on a Summer in Which they are asked to have almost immediate impact on the Business and be a sponge of Constant Feedback. In evaluating their performance, the Execcs Said They Try to Be Clear About What Success Looks like the Start of the Program.
“EACH INTREN HAS A WEEKLY ONE-EON-ion check-in with their manager, and there are also a couple of checkpoints in the Middle of the program and another at the end where they robust Feedback on how they’re doing,” Said Mitro. “By the time the program is over, every intern should have a very good understanding of whether they have stand and there should be any surprises.”
When it is comes to decide whereer an intern gets a full-time non-ferler at the end of the Summer, decoctions are a “team efffor” bassed on Feedback from multiple leaders, including Ceos griffin and Zhao Theroves.
“We have a rich and rigorous evaluation process that includes not only only intern managers but a variety of Other voices as well,” Said Figi. “Every intern project is revolutionwed by multiple leaders, and ken and hostage are involved in offfer outcomes too.”
The Execs Said They Don’t Anticipate Changing Their Return of the Rate at the End of the Summer, in what has haen an uncetain and turbulent market.
“WE’RE NOT LIMITED IN THE WAY OTHER FIRMS MIGHT BE IN TERMS OF WHAT WE CAN OFFER TO GRADUATES,” Said Mitro. “Fortunately, that is not going to be an will for us and it is a great position to be in – for our firms and for those who are interested in jaining us.”