Citadel Associate Program (Equities) – Summer Internship, 2025 (US)

New York

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Job Description

Our investment teams create portfolios of equity securities through collaboration with portfolio managers, analysts, associates and traders. Our 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.  
Successful summer internship participants will receive an offer for full time employment in our Citadel Associate Program. The Citadel Associate Program seeks to train and develop junior talent into successful investment professionals on Citadel’s platform.  
As a participant in our summer program, you will experience first-hand long-short equities investing from the inside of one of the world’s most preeminent hedge funds. Participants will learn through three different avenues: instructor led classroom training, rotations on investment teams, and a team-based stock pitch.
• Classroom instruction will be led by a former Citadel Portfolio Manager. The curriculum will focus on key Associate building blocks – basic financial modeling, dissecting a company’s future business prospects, and distinguishing between good and bad businesses, and attractive and unattractive investment opportunities, among other areas. It will also provide extensive exposure to Citadel’s best-in-class infrastructure, allowing participants to understand how the right technology investing applications and risk management systems help drive repeatable investing process and best in class performance.
• Investment team rotations will give our interns the chance to perform bespoke research projects while reporting directly to analysts and portfolio managers across different industry groups.  
Your 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
Accepting applications for 2026 graduates into our internship program for the Summer of 2025.

In accordance with New York City’s Pay Transparency Law, the base salary range for this role is $2,500 to $3,000 per week. Base salary does not include other forms of compensation or benefits.

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 

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.