Citadel Trader Interview Guide
Understand the qualifications and background you need to become a quantitative trader at Citadel.
Introduction
Quantitative trading at Citadel is an exhillerating, lucrative, and exciting career path, filled with problem solving and innovative solutions.
In this guide, we will take you through Citadel's interview process, culture, and the prerequisites you must achieve to land a quantitative trading role. We will also provide you with resources and advice to help boost your application, and maximise your chances to break into quantitative trading.
Quantitative Trading at Citadel
As a quantitative trader at Citadel, you will use predictive analytics and technology to monitor risk, respond and identify to market signals, and execute trading strategies across various financial products.
Successful engineers at Citadel are critical thinkers who are able to break down problems, and can make clear and rational decisions to develop high quality solutions. While technical skills are important, social skills and communication are just as crucial.
Your Background
Before applying to Citadel's quantitative trader role, you must meet the following requirements:
- Pursuing a bachelor's, master's or PhD in applied math, engineering, statistical modeling, calculus, computer science, physics or related disciplines
- In your penultimate or final year of studies
- Ability to think about the world systematically and quantitatively
- Passion for financial markets
However, you can focus on developing particular qualities that Citadel values in their quantitative traders. To be more competitive within the interview process, consider these attributes and qualifications:
- Experience in competitive and strategic environments to a high/professional standard
- Projects/experience in quantitative domains, (e.g. risk analyst, or options trading)
- Being competitive in algorithmic trading competitions
- Advanced quantitative, logical, and problem solving skills
- Advanced understanding of python programming and probability theory
- High GPA within your degree
Let it be known that these are a few attributes that would be beneficial to improve your chances of landing a quantitative trading position at Citadel. There are multiple other experiences/qualifications that will also be beneficial, but the qualities from these attributes are highly sought out at proprietary trading firms like Citadel.
To learn and reinforce your programming & probability skills, learn by doing with our courses in Python Programming for Traders, and probability for quantitative finance.
Your Application
Citadel's application and interview process is typically longer than that of the average quantitative trading process, due to it's immense competition. As such, it is super important you study it's interview process (Which you are doing as you're reading this, so good work).
You will be asked to fill out a range of questions, including your degree, your GPA, your graduation date, your resume, and so on.
The main focus is on your resume, which will contain your:
- Career objectives and overview
- Area of study and academic performance
- Experience and projects
- Extracurricular/competitive achievements
- Characteristics and interests
It is important you structure your resume correctly. We recommend a platform such as resume.io to assist you with building your resume.
You will also be asked a range of cover letter related questions, such as, "why would you like to work at Citadel?", "what about quantitative trading interests you?", and other personal questions. Make sure your responses are genuine and well structured. Do NOT use AI to write your cover letters, as HR will notice this immediately, and bin your application.
Round 1: Online Assessments
You will be sent a link to online assessments a few days after you apply. You are given one week to complete two online assessments. These assessments are detailed below:
1. Cognitive Ability Test
Citadel's cognitive ability online assessment requires you to answer 50 logic, arithmetic, and english questions in 12 minutes.
You can pactice with our Citadel online assessment tool to get a better understanding of the structure and types of questioned asked on the cognitive ability test.
2. Personality Test
Citadel's personality online assessment is a multiple choice personality test, and is not really something you can 'practice' for. Here, you should aim to answer honestly. Authenticity is key!
Round 2: HR Interview
If you progress to this round, then congratulations! You're one step closer to becoming a quantitative trader at Citadel.
The HR Interview is super crucial for your success at Citadel as a trader. In the interview, you will discuss over the phone with a member of Citadel's HR team (who has a technical background, by the way) your qualifications, background, and skills, as well as your motivations for applying and cultural fit with the firm.
The following are types of questions that you may encounter in an HR Interview:
1. General Questions
General questions regarding your motivations, values, personality, and work style allow the interviewer to further understand how you will integrate into the work environment.
You can see examples of these types of questions in our common general questions list.
2. Background Questions
These questions dive into your previous work experience, projects, and education to get a better understanding of how you qualify for the role.
To see these types of questions, view common background questions.
This interview section is very overlooked. Make sure you deeply understand the Citadel's values and mission (as described above) before going into the interview.
Also, be confident and authentic, and prepare your experience and projects in an orgnaised and professional way.
Round 3: Technical Interview
You've made it so far! This round is perhaps the hardest round of Citadel's trading interview process. You will be interviewed by an experienced quantitative trader, and will undergo a set of comprehensive and rigorous assessments to test your quantitative skills, probability, and understanding of basic market dynamics.
This interview is generally delegated as follows:
Motivational and General Questions
Similar to the HR interview, the technical interview opens with some general questions regarding why you applied to Citadel, why you chose the trading stream, what you value in a work environment, etc.
Again, you can find these types of questions in our general questions section and our background questions section.
Probability Interview Questions
In your quantitative trading interview, expect to be challenged with probability based questions that cover expected value, binomial distributions, conditional probability (Baye's Theorem), and markov chains.
The most general types of probability questions that will be asked include Tennis Game, Die Optimisation, and Defective Coin.
For more probability interview questions which may appear in your trading interview, view our comprehensive list of probability interview questions.
Brainteasers
Brainteasers are a special, abstract type of question requires unique, out-of-the-box, abstract problem solving skills.
Nutorious examples of these types of questions include Light Gold and Flickering Bulbs, but more difficult and abstract brainteasers that are more likely to be asked include Poisoned Entrees, Shattering Glass, and Erasing Bias.
For more brainteasers which may appear in your trading interview, view our comprehensive list of brainteasers.
Risk Management Questions
In quantitative trading, not only is obtaining expected value important, but also your ability to navigate risk. This is to ensure you don't take big losses that could heavily damage your bankroll in short, unlucky bursts.
For example, if you have a trading strategy that is positive expected value, but you have a 10% chance of losing all your money and going bankrupt at any given time, then it is not a very good strategy.
Types of questions that encapsulate risk management include Exponential Wins and Shooting Hoops.
Random Quick Maths Questions
In your interview, you may be asked a mental maths question out of the blue, to test your reaction skills and your ability to navigate uncertainty.
For example, you may be asked, "What is 7 * 14?", or, "What is the square root of 225?".
It is important that you keep 'on your toes' and switched on in your interview, and ensure that you're ready for anything that comes your way.
Overall, this is arguably the most challenging interview, as it requires focus, patience, level-headedness, and ability to perform under pressure. However, with our preparation resources, you will be well-positioned to pass this interview, and advance to the next stage.
Final round: Superday
It is a great achievement to make it to Optiver's final round, Superday. You should be proud! You are just one interview away from becoming a quantitative trader at Optiver.
Optiver's Superday is the final round of Optiver's quantitative trading interview process, and is typically performed in their office. Typically, you will be participating with other candidates in a group on the same day.
In the superday, you will again be rigorously tested in quantitative domains, such as probability, expected value, market dynamics, problem solving under pressure and more.
with some applicants reporting slight deviations, There are typically three stages to the superday interview:
HR and Trader Chat
The HR and trader Chat is a conversational, casual interview to get a sense of your passions, qualifications, experience, how you would contribute to Citadel's mission, and Citadel's work environment. You will be interviewed by a recruiter, as well as an experienced trader.
In this conversation, demonstrate your passion and curiousity for quantitative trading. Ask insightful questions, regarding quantitative trading in general and insights into Citadel. And don't forget to just be yourself!
Technical Interview
This is your final technical interview, so make it count! This interview further assesses your quantitative and problem solving skills. The problems will likely be variations from previous stages, i.e. brainteasers and probability interview questions (hard difficulty).
You will be partnered with two experienced traders, with one being the head of a particular domain of trading. Remember to be patient, do not get stressed if you don't know the answer, and articulate your thought process clearly and concisely.
Group Market Making Game
In the market making simulation, you are partnered with a group of other applicants, and are tasked to play a trading market making game
What differentiates this trading simulation from previous rounds, is that you must work in a group setting, effectively communicate your findings, and solve problems quickly under pressure.
Success!
If you made it to the end, then congratulations! You are now a quantitative trader at Citadel. You worked hard, and deserve to celebrate!
Going beyond, in your first few weeks, make a good impression by demontrating your views in continuous learning, staying humble, displaying humility, and listening to the experienced quantitative traders. Be receptive to advice throughout your quantitative career!
Closing Remarks
If you are feeling quite overwhelmed by the complexity and length of the Citadel's interview process, that is totally normal! By reading this, and understanding the interview process holistically, you have already gained a competitive advantage over most applicants.
To gain an even further advantage in the interview process, it is imperative that you start preparing early and stay consistent in your preparation. Many applicants fail to delegate adequate time for interview preparation, or overlook interview preparation in general, leading to their demise in the interview process.
For competitive jobs, interviewing is a must-have skill. Please understand, quantitative trading is a super competitive industry, with only a select few that will fill in positions. To stand out, and maximise your chances of securing your dream position, you must prepare early.
Further, if you feel that you're not up for a quantitative trading position at Citadel, the biggest mistake you can do is not apply! You miss all opportunities you do not take. And understand that all successful quantitative traders have imposter syndrome at many points within their career.
Overall, becoming a quantitative trader at Citadel is a highly fascinating and lucrative career path, and with enough preparation and knowledge, you will be well-positioned to crack the interview process, and become a quantitative trader yourself.
