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.

For over 35 years, we’ve been helping the world’s preeminent institutions identify the highest and best uses of capital. Our innovative investment strategies and market-leading technology, backed by a global network of elite quantitative researchers, provide exceptional risk-adjusted returns that help our partners succeed.

With more than $67 billion in investment capital as of early 2026, Citadel is the world’s most successful hedge fund manager by net gains since inception. We operate at the intersection of finance and technology to capture undiscovered opportunities across global markets.

Citadel does business in every major financial hub, principally operating through five primary investment strategies—Equities, Fixed Income & Macro, Commodities, Credit & Convertibles, and Global Quantitative Strategies—and provides essential liquidity to the broader economy through its market-making affiliate, Citadel Securities.