Civic Leadership Citadel and Citadel Securities Launch Summer Externship to Develop the Next Generation of Diverse Talent in Finance

Citadel and Citadel Securities Launch Summer Externship to Develop the Next Generation of Diverse Talent in Finance

May 25, 2022

Research shows that participation in internships is a strong predictor of early career success; Citadel and Citadel Securities new summer program will provide technical skill-building opportunities to high-achieving college students who have been historically underrepresented in finance.

Citadel and Citadel Securities are launching the inaugural class of their Summer Externship this year in partnership with Thrive Scholars. The Externship is an intensive, two-week program for top-performing college students to develop the next generation of diverse talent in finance.

“The Summer Externship engages students at a critical time in their academic journey to position them for even greater opportunities in the future. We’re excited to offer these high-achieving students the ability to grow their skills and add new experiences that will broaden their personal and professional horizons. We hope many of these scholars will pursue careers that will help shape the future of our industry.”

Gerald Beeson, Citadel Chief Operating Officer

Twenty Thrive Scholars who are rising college sophomores and juniors at leading universities across the United States will gather at Citadel’s global headquarters for a skills-based program that provides exposure to:

  • Technical curriculum focused on programming, design and web development
  • Background on the finance industry and Citadel and Citadel Securities from senior leadership
  • Interactive trading simulation
  • Resume guidance and interview preparation
  • Engaging social and cultural activities around Chicago with Citadel and Citadel Securities colleagues
  • Continued mentorship during and after the program, providing industry insight and career development support

The Summer Externship is part of our long-term commitment to providing learning and career development opportunities for students who have been historically underrepresented in finance, including women and people of color. Research shows that the number of internships a student completes is strongly correlated with initial career outcomes. However, many students struggle to find meaningful internships during the first two years of college. The Summer Externship is designed to engage students after their freshman year—a critical time in students’ academic and career trajectories—to provide both the skills training and the professional experience that can open doors for future internship opportunities.

Externship participants will be paired with a mentor for the duration of the summer program, in addition to the year-long mentorship they receive from a from a member of the Citadel or Citadel Securities team. The mentorship experience will provide students with meaningful exposure to the firms’ culture and colleagues, highlighting how the commitment to continuous learning and growth is central to their success.

“…the opportunity to work with Thrive was incredibly rewarding. It was interesting to see how these students, with little finance experience, were able to attack a real-world problem and come up with interesting solutions…

…I am hoping that working with Jenny [mentee] will let me support her in figuring out how to flourish, from navigating her new life at college to picking a major and eventually internships and a career path.”

Pete Becker, Thrive Mentor (Citadel Securities)

The Summer Externship expands on Citadel and Citadel Securities’ partnership with Thrive Scholars, whose effective, data-driven model invests in students before and during college and supports them as they transition from college to career. Citadel and Citadel Securities sponsor Thrive’s intensive academic and career development program for 120 Citadel Thrive Scholars, beginning in the eleventh grade. In addition, Citadel and Citadel Securities support includes sponsorship of Thrive’s Summer Academy for rising college freshmen, providing 350 hours of academic instruction at the University of Chicago campus for over 200 students . The firms also partnered to launch Thrive’s new Finance Career Pathway for students interested in pursuing careers in finance.

This partnership builds on Citadel and Citadel Securities significant commitment to creating opportunity through greater access to education and the finance industry. Other recent initiatives include Data Science for Everyone, The Greenwood Project, Break Through Tech AI and the Last Mile Education Fund.