Citadel is an American multinational hedge fund founded in 1990 by Ken Griffin. It is one of the largest hedge funds in the world. It has over 62 billion dollars in assets under management. Those factors make the Citadel one of the most sought-after employers. It is not a surprise in the number of inquiries on how to get into Citadel hedge fund.
What Citaldel frequently emphasize is that they are looking for workers with different educational background. It doesn’t need to be business, math, or economics. The most important factor is to hunger for excellence. Other valued skills are proficiency in programming languages like Python or C++. A potential candidate needs to possess a creative and problem-solving mindset. Also, a general interest in finance is a big plus.
One thing is for sure – Citadel values high achievers. That denotes their desire to progress and learn. If you manage to get an internship or a junior position at Citadel, be ready for constant learning and hard work. Stay with us, while we go through details of this major hedge fund, and its modus operandi. Fortunately, this will help you in your goal to become a part of a Citadel.
Understanding the Difference Between Citadel and Citadel Securities
Although Citadel and Citadel Securities are founded by the same man they are two business entities. They have their business focuses, that we will now cover.
A Citadel is a financial institution that works as a hedge fund and an asset manager. It offers several financial services. Those include investment management, quantitative trading, and alternative asset management. Hedge fund managers besides quantitative strategies use long/short equity and global macro strategies.
They offer to highly diversify the investment portfolio of investors. They do this not just by using different strategies. But, they are also investing in different types of assets. Those include bonds, stocks, commodities, and other financial vehicles, like pension funds.
On the other hand, Citadel Security is one of the largest market-making companies in the world. These companies provide liquid assets to the markets. They achieve this by offering bids and asking prices for the security. The bid is the maximum price the company will pay for the security. The ask is the minimum price for which the company will sell the same security. And the company earns on the price difference.
Citadel Security is conducting the majority of its trading on the stock exchanges. They play an important role in empowering smooth and efficient trading in different financial markets.
So the biggest difference between these companies is that the Citadel is managing investments. Citadel Security on the other side earns by capturing the price difference between bid and ask prices.
Uniqueness of the Citadel Hiring Process
The Citadel is not employing remote job interviews. If you impress someone from the Citadel hiring team they will want to conduct a one-on-one interview. Interviewers want to carefully analyze every candidate and go through several interview rounds. This is due to extensive testing and assessment for every new intern.
The goal of Citadel is to hire interns who will emphasize the corporate philosophy. They want employees for the long term, that will grow together with the company. Interns should learn from their more experienced colleagues. They should perceive them as colleagues and not competitors.
Key Traits of Successful Candidates at Citadel
Demonstrating Excellence Beyond Academia
The Citadel hiring process is not focused on hiring specifically college graduates with an MBA, economic, or math background. They are searching for graduates who show exceptional creativity and are outside-the-box thinking. They want to hire problem-solvers and creators of grand strategies.
Value of Entrepreneurship and Collaboration
One of the main elements of the mindset of a future Citadel employee is entrepreneurship. You do not necessarily need to have an economic or business educational background. But, you have to love finance. That includes mastering the theory, and knowing how to solve a problem or plan a strategy.
Another trait that the Citadel is looking for is teamwork and competitiveness. But, they do not want employees to compete with each other. They want them to supplement each other with their ideas and experience. To help them grow. And to be competitive with professionals from other companies.
They together have to find a way to every day come on top of their competition. Thanks to that, both Citadel and Citadel Securities are top players in their industries.
Academic and Professional Backgrounds
Diverse Educational Backgrounds
Like all hedge funds and financial firms, having a business, economic, math, or accounting education background is a plus. But, that alone will not grant you the possibility to work in the Citadel. Besides theoretical knowledge, they want a mind that can adapt to different situations. Employees have to cope with high-intensity work environments.
Importance of Creativity and Problem-Solving
Often graduates with art, or human sciences prove to be a better choice than many owners of the MBA. That is why Citadel pays attention to the creativity and problem-solving processes of potential employees. Working in a hedge fund is fast-paced and dynamic. It often demands from managers and analysts unorthodox solutions.
Internship Route
Leveraging Internships for Long-Term Opportunities
Most graduates once they pass the selection process are offered the internship position. This is a great opportunity for every graduate. The interns get a chance to gain experience and build a business network. They will work alongside other interns and learn from the top professionals.
Interns get a chance to develop a wide skillset that will help them in their future finance careers. Learning from the best mentors provides them an opportunity to build a strong foundation. If they show exceptional creativity, problem-solving skills, and cooperation they can get a chance for a long-term employment opportunity.
Citadel’s Internship Characteristics and Benefits
The interns can apply for a position in Citadel or Citadel Securities. That will have an impact on developing skills and the career path in the future.
The intern’s starting pay is in the range of $14k per month. The interns will cover all the bases for multiple roles in the company. They will experience a working day as an analyst, a trader, and a manager.
Take a Look At A Day in the Life of a Citadel Intern:
Additional Tips for Aspiring Applicants
Engaging in Competitions and Challenges
Before prospective interns apply for the position they can participate in different competitions and challenges. Both, Citadel and Citadel Securities are organizing datathons, coding, and trading competitions.
These competitions are a great way to set yourself above the rest. If you show knowledge and skills you will surely attract potential mentors from the company.
Building a Diverse Skill Set
Before you apply to these companies it is good to build a diverse skill set. That includes a mix of tech skills. Using programming languages Python and C++, and a deep understanding of the market is a plus. You should learn how to analyze the market and predict possible market trends.
Gaining independent investment experience will go a long way. You will have a chance to show off any knowledge and conclusions that you gained through this endeavor. Learn about different investment strategies, and what are the best ways to manage risks. Inform yourself about preferred tactics that Citadel managers use.
FAQs
How Hard Is It to Get Into Citadel Hedge Fund?
It is considered to be very hard to get into Citadel hedge fund. This fund, like all other major funds, chooses only the best. The perfect candidate must have a combination of ambitious and competitive mindset. Also, it must have a hunger for further learning, development, and all-around improvement.
Educational background is not everything, but Citadel chooses overperformers. Building a quantitative skillset is essential. Citadel’s work focuses on quantitative investing strategies. Every intern must be ready to master the skills that they may not even possess when starting. This will come from a strong mentorship program that encourages teamwork.
How to Get Into Citadel Hedge Fund without An Experience?
You can get into Citadel hedge fund through their internship program. You would need to fulfill the demanding conditions that encompass a strong personality that will go the extra mile to complete a task.
It is recommended to go through these steps to amplify your chances of getting into Citadel:
- Take relevant courses. Those include courses that focus on quantitative finance, algorithmic trading, and financial modeling
- Develop programming skills. Learn Python, C++, R, or Mathlab. You can start with courses and even attend workshops
- Work on creating a quantitative skillset. Study statistical analysis, time series analysis, and mathematical modeling. Gather any type of material to improve these skills
- Build an investment portfolio. Learn about investment strategies, and study the markets. Use investment platforms and begin your investment career. This is an invaluable experience that the interviewers will recognize
- Develop a business network. Attend events and conferences from the hedge fund industry. Try to connect with professionals, and build a professional network. Through networking, you can improve your skills and create strong private and professional bonds.
Final Considerations
Getting into any major hedge fund is a tricky mission, especially if you do not have experience. Citadel companies are one of the most sought ones to start and build your business career. But to get that opportunity you need to fulfill a whole series of conditions.
Citadel hires only a special group of people. Those people have a specific mind and skillset. They can learn and adapt to situations that they never thought they would come onto. Their formal and life experience allows them to build their career together with the company.
Citadel’s employees are at the same time compatible and diverse. That is why the company is managing to be one of the largest financial institutions in the world.
