Long / Short Equity Associate

The interview process unofficially began with a large meet-and-greet session in an event space at a high-end New York steak house in Tribeca. The event was co-run by Citadel and Dynamics (Citadel's retained search firm at the time). At the event, senior Citadel personnel gave remarks before giving way to a reception format. During the reception, ~12 mid-senior (ie., portfolio managers, very senior analysts) milled around with ~60 pre-screened candidates. The topics of conversations varied but inevitably strayed to toward investment ideas and current events (in an investment context). Candidates who did not have investment ideas or research interests in companies were at a huge disadvantage. Those candidates who made a favorable impression at the reception were extended in-person interviews. Dynamics provided extensive coaching in between.

The next stage of the interview process was an in-person interview with two 1-hour sessions at Citadel's offices in Manhattan. The first session was with a portfolio manager and we spent most of the time discussing a short equity, long credit idea I had at the time. We discussed detailed projections for the company, the drivers of the business and entry/exit price recommendations. (Note: the trade was wildly successful over the next month, with the stock falling ~20% and the credit rallying 10%). The second session was with a senior manager of the equities business. This interview was focused on brain teasers, math problems and question intended to test whether I could remember technical concepts form my undergraduate studies. The interview was extremely difficult but I managed to pull through.

The final stage of the interview process was to be a "superday" at Citadel headquarters in Chicago. During that day, I was to meet 6-8 people for a variety of interviews. I ultimately had to decline this interview because I accepted another interview at a different hedge fund.