Equities Citadel Associate Program Summer Internship 2028

Citadel; New York (NY); On-site; USD 114,000 - 137,000; Full time

Job summary

Citadel CAP internship is designed for undergraduates graduating between December 2028 and May 2029. You will rotate across investment teams, combining classroom instruction with mentorship to build financial modeling and company research skills.

During rotations you will work with portfolio managers and educators to assess business models, investment opportunities, and evidence-driven theses using external data sources and quantitative risk systems.

Qualifications

• Desire to understand businesses and investing.
• Strong analytical skills and ability to draw conclusions from imperfect data.
• Clear written and verbal communication; explain reasoning behind a view.
• Develop financial modeling skills and apply data to research.
• Attention to detail and strong organizational skills.
• Open to feedback and revise views with new evidence.

Responsibilities

• Develop financial modeling techniques to analyze companies.
• Conduct company/industry research with investment teams.
• Explore external data sources to support or challenge investment theses.
• Apply analytical and research skills to evaluate businesses and opportunities.
• Gain exposure to technology and quantitative risk systems used in long/short equities.

Skills

Intellectual curiosity

Analytical skills

Communication skills

Financial modeling

Attention to detail

Feedback openness

Education

Undergraduate, graduating Dec 2028–May 2029

Job description

Job Description

Currently accepting applications for our 2028 internship from undergraduate students graduating between December 2028 and May 2029.

The Citadel Associate Program (CAP) internship is designed to develop exceptional early-career talent into investors on Citadel's equities platform. Through classroom instruction, direct mentorship, and investment-team rotations, you will gain firsthand experience in long/short equities investing.

Working with portfolio managers, analysts, and educators, you will develop financial modeling and company research skills, learn to assess a company's business model, and explore what makes a business and an investment opportunity attractive. During rotations across industry groups, you will undertake research projects with guidance from investment professionals. You will also gain exposure to the technology, external data sources, and quantitative risk systems that support Citadel's investment process.

Investment team rotations will give interns the chance to perform bespoke research projects while working directly with investors across different sectors.

Your Objectives:

• Develop financial modeling techniques to analyze companies
• Conduct company and industry research through projects with investment teams.
• Explore external data sources and use evidence to support or challenge an investment thesis.
• Apply analytical and research skills to evaluate businesses and investment opportunities.
• Gain exposure to technology and quantitative risk systems used in long/short equities investing.

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In accordance with applicable law, the base salary range for this role is $2,500 to $3,000 per week.

Required Skills

• Intellectual curiosity and a strong interest in understanding businesses and investing.
• Strong analytical skills and the ability to form reasoned conclusions from incomplete or imperfect information.
• Clear written and verbal communication, including the ability to explain the reasoning behind a view.
• A desire and ability to develop financial modeling skills and apply data and technology to research.
• Attention to detail, strong organizational skills, and ownership of your work.
• Openness to feedback and a willingness to test assumptions and revise your conclusions as new evidence emerges.

About Citadel

Citadel is one of the world's leading alternative investment managers. We manage capital on behalf of many of the world's preeminent private, public and nonprofit institutions. We seek the highest and best use of investor capital in order to deliver market leading results and contribute to broader economic growth. For over 30 years, Citadel has cultivated a culture of learning and collaboration among some of the most talented and accomplished investment professionals, researchers and engineers in the world. Our colleagues are empowered to test their ideas and develop commercial solutions that accelerate their growth and drive real impact.