Hello, I am a MA of Econ student at NYU. I just received an OCR interview (30min) with Citi, and the position is Summer Analyst – Quantitative Trading & Analysis.
I honestly don't know why they invited me for this interview as I have only taken a few calculus, differential equations, basic statistics class (like econometrics) and c++ classes when I was an undergrad.
So I was wondering if anyone knows:
1. What the interview will be like? Are there going to be a lot of math, programming or brainteasers questions?
2, Any advice on how to prepare for this interview based on my academic background?
Thanks a lot!
ps: Below is the selected job description:
Summer Analysts can expect to build tools and models that assist traders and clients in pricing, hedging, and structuring of securities, and provide critical information and advice for managing risk across all market trading units. Summer Analysts can also expect to be involved in research and analysis that is distributed both internally and to our clients.
Although the program includes formal training, the heart of the program is a research project. This project allows Summer Analysts to work directly with a research analyst to develop an understanding of a specific segment of the market and contribute to the research produced by the department. Examples of possible project topics include the following:
• Modeling financial products such as Mortgage-backed Securities
• Creating a survey of banking and thrift industries
• Developing a system for analyzing data
• Contributing to a bond market strategy publication
It's generally math (prob, stats, calculus, brainteasers), some programming (c++ usually) and basic finance.
Mind telling me in what degree should I know about prob, stats, calculus and c++?
You should go through a book on quant interviews. You'll get a rough idea of the level of difficulty. (Sometimes the same questions are asked)
150 Most frequently asked questions on Quant Interviews - Dan Stefanica frequently asked questions in Quantitative Finance - Paul Wilmott
They will only ask a handful of quant related questions. The rest will be behavioral and just general talk.
They don't ask much tech/advanced mathematics (e.g stoch calc) unless you claim to be an expert.
Do you mind telling me some examples about what questions they might ask? Thanks!
They asked me about basic probability question.
Citi Quantitative Trading Summer Analyst First Round...... Screwed? (Originally Posted: 02/07/2012)
Hi Guys,
I have a quant trading SA first round coming up. My knowledge of statistics is pretty advanced but my advanced math skills arent so good. furthermore, its been 1 year since I last touched C++, I only know the basics. Would I even have a chance? What should I focus on? Thanks!
you don't need to know programming in the first round eventually they will test you on it if you make it far enough, but I don't think its important at all for getting an SA position
don't remember that clearly but I'm also fairly certain you're not going to get tested on advanced math or stats I would expect probability brainteasers (flipping coins, expected values of dice games, etc) more than anything else
throw some simple logic/counting problems in there too probably for first round
how can your knowledge of stats be advanced when your math sucks? you're screwed. enjoy doing operations at RBS for the next 20 years.
Unless RBS goes bankrupt next year lol
Citi Quant Trading & Analysis (Originally Posted: 09/25/2012)
Going to a Citi quant trading and analysis 1st round in a few days, and I was just wondering what kind of question they might ask. I did a few search on WSO and found answers ranging from brainteasers to fit to markov chains and martingale. Does anyone have any additional insight on how to prepare?
btw don't know if this will affect the type of questions I get, but I'm in a biomedical engineering major, and so we don't really learn stochastic calc
they're not going to ask you advanced math that you don't know
how does Citi's quant program compare to similar programs at BBs?
there aren't any others that i know of
I think most banks have normal s&t programs, which obviously have some quantitative types in them, and then they recruit quants separately to do research/support roles but i don't think there's another bb program that specifically recruits quantitative types for possible trading roles
What do markov chains and martingales have to do with stochastic calculus? I take it you've never taken a probability course?
Citi Quant Interview Help (Originally Posted: 02/07/2011)
Have an interview with Citi Quant Trading coming up. Apart from the typical securities questions, what else should I know for a quant position?
Thanks in advance
expect brainteasers
do you have any good resources for practicing brainteasers?
Markov chains, martingales, option pricing, swaps, equity derivatives, programming, my head hurts.
lol,,, they won't ask Markov process, or martingale theory. Maybe, get to know what martingale is, you probably already know that.
Basic probability, Statistics, Financial economics, option pricing, brain teasers... maybe programming, but I doubt it...
I've been asked everything that I posted.
Ok, Markov chain questions will have something to do with Monte Carlo, Martingale theory is the core of option pricing... I don't doubt the importance the topics. All I am saying is that since he has that interview with a bulge bracket coming soon, it's better off to prepare option pricing theory (and other contingent claims for that matter) directly, rather than going back to pick up the whole subject of random processes.
might depend on ur background i got mostly probability brainteasers, stuff you would find in "heard on the street"
IMHO, thats the best prep guide for quant interview.
Citi undergraduate S&T quant track SA interview (Originally Posted: 01/18/2010)
I know what I should expect for a typical S&T interview, but how bout quant? What should I expect? Should I expect PDE, stochastic calculus questions or should I expect the typical probability, math brainteasers?
S&T Quant Track? What does that mean?
that's what it lists on our engineering career website.
Sales and Trading Summer Analyst (Quant Track)
bump :)
brainteasers, prob...alot of caracter stuff..in case you fail the teasers, if you also suck at presonality youre gone.
theyre looking for a fit...dont need to be a genius..tons of morons work in this field...but then again, there are more smarter ppl than dumbasses... stay calm, reason, and if you fail, stay calm
I saw the same post in my school career website. And I thought they were looking for more quant-type people, probably not to the level of understanding everything about stochastic calculus but somewhere between basic calc and stochastic calc. Correct me if I'm wrong
[quote]but somewhere between basic calc and stochastic calc. Correct me if I'm wrong[/quote}
there is a LOT in between basic calc and stochastic calc lol...probablity theory, PDE, ODE, Real Analysis etc... i think that position might be appropriate for grad students, because i've seen a similar posting in my school's career website too, and the requirements for that position looked pretty much like what one would expect from a masters/PhD student
it wasnt that hard at all
couple questions:
showed me a triangle, one side = 6, another side =8, third side = x, what's the range of x... obviously between 2 and 14 then
what's the probability of x being 10 (assuming x can only be integer)... obviously 1/11 since x can only be 3-13, so 11 choices, 1 of them is 10.
then
x^3+7x^2.. what's the smallest prime number x that would make this a perfect square assuming x > 2... obviously 29 because you factor it you get x^2(x+7).. x^2 itself is a perfect square and 29+7 = 36
None of that was obvious to me ... far from it. Sounds like it went well for you though. Good luck.
bump. these days, is anyone finding hiring for entry-level quantitative roles such as this?
Citi's Quantitative Analysis Summer Analyst - 2nd round (Originally Posted: 01/27/2008)
Hello
I got invited for the second and final round of interview for the Citi's Quantitative Analysis Summer Analyst Program. Has anyone gone through the process? What should I expect? Is there anything I can do in the next two days to prepare myself for it? The interview is on Wednesday from 10:30-4:30 in New York.
Thanks
hey buddy I got a 1st round interview for this position? Would you mind sharing some tips? What kind of questions did they ask?
thanks so much bro!
Citi quant research/trading vs GS QIS (Originally Posted: 02/28/2014)
What are some reasons someone, who doesn't really know what they want to do career-wise, would choose one over the other? GS may be the better name, but the Citi program includes trading exposure and has a much higher FT offer rate.
Which group had the nicer people? (Incidentally people who have less stressful jobs that pay more $$ per hustle tend to be nicer people) Where was there a better cultural fit?
Quants tend to have a very distinct culture from S&T. In fact, we probably have more in common with research than we do with trading.
In terms of strategy research vs. trading, I know S&T is the hot place to be, and sitting with the traders is a lot of fun, but the quants in research tend to have an easier time of moving over to the buyside. You're learning the statistical tools to build and test a trading strategy. Working on the trading floor, you'll probably be more focused on trade analytics and/or pricing.
But my sense is that you're not asking this question only because you want to work on the trading floor. Something else is going on. Maybe you liked the people at Citi a bit more than at GS. Maybe they seemed less stressed out. Is it just that you want to be on the trading floor, or is your gut also telling you something here?
My vote is that unless you want S&T (and don't want to be a PM at a hedge fund in ~10 years), go with research. But the people you work with get to veto that. It's better to take a job in a mediocre group with excellent people than to take a job in an excellent group with mediocre people.
Need info on Citigroup quant trading (Originally Posted: 02/28/2008)
Having an SA interview soon, any info is appreciated.
They want a mathematician-programmer from what I've heard. Friends who've interviewed with them have had these questions asked:
What's an Igan vector(I don't know how it's actually spelled, just going by the sound)?
How would you make a program to eliminate gamma?
And so on......................
eigenvector.
Citi S&T – Quantitative Trading & Analysis Analyst (Originally Posted: 10/18/2014)
Does anyone have some insight on this role? What's the rep on the street? What are exit opps?
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