I know 1 guy who works there. Most of the group is based in Chicago. Pretty good hours and interesting work. Citadel in general is very competitive though; the bottom 10% usually get let go each year. But I think global equities is less cutthroat than the quant trading groups.

 
Best Response

Chicago is a small trading town and there is a lot of cross-fertilization between Citadel, Jump, Getco, and many of the other firms in HF and Stat Arb. Think Google, not Goldman in those groups.

I can't speak as much to the fundamental investment side. I've heard it really really varies.

You often get 1-2 Citadel people at the WSO meetups. They're a large firm by Chicago standards and I suspect someone will show at the next one.

 
IlliniProgrammer:

Chicago is a small trading town and there is a lot of cross-fertilization between Citadel, Jump, Getco, and many of the other firms in HF and Stat Arb. Think Google, not Goldman in those groups.

I can't speak as much to the fundamental investment side. I've heard it really really varies.

You often get 1-2 Citadel people at the WSO meetups. They're a large firm by Chicago standards and I suspect someone will show at the next one.

Speaking of...does Dec 17 work for you?

Its on my to-do list

Array
 
Gray Fox:
sonibubu:

I've heard from a very, very, very reliable source that all 18 groups (six fundamental sector groups in 3 locations NYC, Chicago, SF) in Global Equities are up on the year. Pretty incredible, but not hard to believe considering that the Global Equity Fund is +17% ytd.

What kind of exposure do the run?

Not sure about gross or net exposure, but it's a truly beta neutral strategy (they hedge a ton of factors beyond just market sensitivity) so the exposure changes I'm sure based on what the hedging model is telling them.

 

I've heard similar things as well, although I'm sure your source is more reliable than mine.

From my understanding, the global equities group has fundamental guys (ex-bankers/pe/other hedge funds) as well as quants who create models that measure and "predict" various risks.

 
sonibubu:

I've heard from a very, very, very reliable source that all 18 groups (six fundamental sector groups in 3 locations NYC, Chicago, SF) in Global Equities are up on the year. Pretty incredible, but not hard to believe considering that the Global Equity Fund is +17% ytd.

Why is it "pretty incredible" that they are up on the year in a bull market where every sector is also up YTD (except energy)?

 
IBPEHFVC:
sonibubu:

I've heard from a very, very, very reliable source that all 18 groups (six fundamental sector groups in 3 locations NYC, Chicago, SF) in Global Equities are up on the year. Pretty incredible, but not hard to believe considering that the Global Equity Fund is +17% ytd.

Why is it "pretty incredible" that they are up on the year in a bull market where every sector is also up YTD (except energy)?

Because they run a strict beta-neutral long/short strategy where correlation to the market is pretty much zero. So for all 18 teams (including energy/materials) to be generating positive alpha is pretty incredible.

 

Why is there so much demand for long short equity analysts? I see tons of new postings pop up every day. Why does everyone think they can get an edge doing the same thing everyone else is doing? There is just as much guesswork involved as there is in something like macro, yet I don't see new macro funds popping up everyday looking for analysts...

I guess this isn't Citadel specific either, but I've always been curious, how does someone go from being a specialized/silo'ed analysts covering the same few names, to a PM who has to know a lot about, well, a lot? The transition doesn't seem easy at all given the different skill sets required.

 

I was thinking more of long/short specifically - that explanation would make sense for long biased funds. I suppose you're right - a lot of the macro thinking I've been exposed to involves generating after the fact explanations for what the market did or did not care about (there are almost always at least three different explanations for any one thing).

 
SanityCheck:

Wrong. Citadel equities (along with the rest of the fund that was down 40% overall) was down significantly in 2008. I interviewed in 2010 and they were more than happy to admit this as they had "made it all back" by then.

So there's the better known Kensington/Wellington strategies that are multi-strategy and include fixed income, quant, equities, convertible arbitrage, and other strategies. They were down almost 50% in 2008. Then there's the Global Equities fund which is only equities, it was actually up in 2008. And yes, By 2010 Kensington/Wellington had made up their losses and were back above watermark.

 

Nam est est aut consequuntur. Aut quam et quibusdam eveniet quia ut qui consequatur.

Quo suscipit corrupti accusamus et error. Voluptatem iure possimus qui eos numquam. Aspernatur iste voluptatibus sunt corporis rerum qui.

Career Advancement Opportunities

March 2024 Hedge Fund

  • Point72 98.9%
  • D.E. Shaw 97.9%
  • Magnetar Capital 96.8%
  • Citadel Investment Group 95.8%
  • AQR Capital Management 94.7%

Overall Employee Satisfaction

March 2024 Hedge Fund

  • Magnetar Capital 98.9%
  • D.E. Shaw 97.8%
  • Blackstone Group 96.8%
  • Two Sigma Investments 95.7%
  • Citadel Investment Group 94.6%

Professional Growth Opportunities

March 2024 Hedge Fund

  • AQR Capital Management 99.0%
  • Point72 97.9%
  • D.E. Shaw 96.9%
  • Citadel Investment Group 95.8%
  • Magnetar Capital 94.8%

Total Avg Compensation

March 2024 Hedge Fund

  • Portfolio Manager (9) $1,648
  • Vice President (23) $474
  • Director/MD (12) $423
  • NA (6) $322
  • 3rd+ Year Associate (24) $287
  • Manager (4) $282
  • Engineer/Quant (71) $274
  • 2nd Year Associate (30) $251
  • 1st Year Associate (73) $190
  • Analysts (225) $179
  • Intern/Summer Associate (22) $131
  • Junior Trader (5) $102
  • Intern/Summer Analyst (249) $85
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
BankonBanking's picture
BankonBanking
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
kanon's picture
kanon
98.9
5
Secyh62's picture
Secyh62
98.9
6
dosk17's picture
dosk17
98.9
7
CompBanker's picture
CompBanker
98.9
8
GameTheory's picture
GameTheory
98.9
9
bolo up's picture
bolo up
98.8
10
DrApeman's picture
DrApeman
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”