Quantitative traders use mathematics, data analysis, market knowledge and technology to make trading decisions and manage risk. The role varies across teams and asset classes, but the core work is consistent: structure unfamiliar problems, make reasoned decisions with the information available and adapt as conditions change.
What Are We
Looking For?
What Does the Recruiting Process Look Like?
For internship candidates, the process generally includes Phone Screen 1, Phone Screen 2 and an in-person onsite/Superday. The exact sequence can vary by candidate.
What Should I Expect From Quantitative Questions?
Expect problems that can’t be answered from memory. You may be asked to work through a probability or mathematical problem, estimate an uncertain quantity, interpret information or data, update an answer after receiving new information or compare different approaches. You may use pen and paper to work through your reasoning.
What Should I Expect From Trading Exercises?
Some interviews may include simplified trading or strategy exercises. You do not need professional trading experience to participate, and we typically provide the information you need, including how to make a market and what a bid and an offer are. Coming in comfortable with those concepts will help. Focus on understanding the objective, identifying the information that matters, making a reasoned decision, explaining why you made it and adjusting when circumstances change.
How Should I Approach the Interview?
- Take time to understand the question before beginning
- Ask clarifying questions when something is unclear
- State your assumptions and explain your reasoning
- If new information changes your view, update it
- If you get stuck, explain where you are and continue engaging with the problem
We are interested in the reasoning that leads you to an answer, not only the final answer.
What Should I Know About Coding?
Quantitative traders work extensively with data and technology. Although programming requirements vary across teams, the most commonly used language is Python, while some teams use C++, SQL and R. Depending on your background and the opportunity, an interview may include discussion of programming, algorithms or technical projects.
What Should I Know About Financial Markets?
You do not need to memorize financial terminology for the interview. You do need to be interested in markets and to understand, in broad terms, what trading involves. Useful areas to explore include what a market maker does, why liquidity matters, how prices respond to new information, the relationship between risk and expected reward and how incentives can affect decisions.
Prepare Your Own Questions
Your interviews are also an opportunity to learn about Citadel Securities. Consider asking about:
- the types of decisions your interviewer makes day to day
- how traders, researchers and engineers work together
- how their desk or asset class differs from others
- how the role changes as traders gain experience
- what makes someone successful on their team
