Equities Associate Summer Internship Program (Jun 2025)

About Citadel

Citadel is one of the world’s leading alternative investment managers. They manage capital on behalf of many of the world’s preeminent private, public, and nonprofit institutions. They seek the highest and best use of investor capital to deliver market-leading results and contribute to broader economic growth. 

Your role

About the Investment team:

The investment teams create portfolios of equity securities through collaboration with portfolio managers, analysts, associates, and traders. Investment Associates (IAs) focus on a small number of stocks and learn everything they can about those companies. They build and maintain detailed financial models; work with data sources to build their insight into company fundamentals; and perform many other forms of primary and analytical research to help their team understand each company as thoroughly as possible. 

Objectives:

• Learn smart and efficient financial modeling techniques
• Gain exposure to innovative research tactics including identifying and mining external data sources 
• Apply analytical and research skills to executing an investment process 
• Experience best-in-class research technology and quantitative risk systems

Training, development & rotations

A former Citadel Portfolio Manager will teach the class, focusing on essential skills like financial modeling and analyzing business potential. Students will learn to tell apart good and bad businesses and investments. They'll also get to know Citadel's top technology and risk management systems, showing how these tools lead to consistent investment success. Investment team rotations will give interns the chance to perform bespoke research projects while reporting directly to analysts and portfolio managers across different industry groups.  

Salary & benefits

The base salary range for this role is $2,500 to $3,000 per week.

Benefits of this internship include:

• Exposure to High-Level Finance and Technology
• Networking Opportunities
• Hands-On Experience
• Mentorship and Learning
• Potential for Future Employment
• Professional Development

Career progression

Successful summer interns may secure a full-time job in the Citadel Associate Program, designed to groom junior talent into successful investment experts at Citadel. As a summer participant, they'll gain hands-on experience in long-short equities investing within one of the world's top hedge funds, learning through classroom training, team rotations, and collaborative stock pitches.

Work-life balance

Even with a full calendar of activities during the day, you’ll experience what it’s like to work in a major city like New York, London, Hong Kong, or Chicago. Interns take full advantage of social events, company-wide networking activities, and corporate memberships at cultural institutions.

Culture & vibe

Citadel USA has a dynamic and competitive work culture that values performance, innovation, and collaboration. The firm encourages learning and development, offers competitive compensation, and takes a long-term perspective. However, work hours may be demanding, and the specific culture can vary among different teams and departments within the organization.

About you

Required skills:

• Strong organization skills to help create and maintain investment team infrastructure 
• Desire and ability to learn and apply efficient financial modeling techniques
• Strong communication skills, both written and verbal
• Ability to leverage incomplete and imperfect information into a well-formulated thesis 
• Skill in utilizing third-party data sets to support or refute pillars of an argument
• Interest in learning and applying new technology applications 

Sources

The following sources were used in researching this page:

• citadel.com/careers/students/internships/
• youtube.com