Is citadel just a quant shop?

Sorry if this is an extraordinarily retarded question, but given that most of my friends getting offers from citadel are cs/math/stats majors getting quant trader or researchers roles, I was wondering whether MM HF's like citadel (and to a lesser extent bridgewater) only hire people with a quant background or whether there exist roles at those firms for people from more traditional background from pe/ib or b school?

 
nutmegger189

Your friends are probably getting offers from Citadel Securities which is the market maker arm of Citadel Group.

Citadel is the hedge fund arm which is multi-manager and multi-strat (so there is some quant here too).

Ok awesome, I know they are at citadel the hedge fund not the market maker. Does citadel (the hedge fund) engage in traditional L/S equity dtartegies and if so is there recruiting similar to other funds despite the fact they hire quants out of undergrad?

 

They do everything mate - takes 2 secs to find this info: https://www.citadel.com/investment-strategies/

Traditionally Citadel’s other groups only recruited experienced professionals with relevant backgrounds. Now they have the Citadel Associate Program which does recruit on-campus.

 

Having a look on LinkedIn at some of Citadel’s employees, there are quite a few of analysts and some PMs with non-quantitative degrees such as English or Journalism. The bulk of degrees are Economics/Finance or Maths/Engineering. Fewer CS and Maths degrees than expected. Maths and Finance combined was quite common as well as Econometrics. I think like the whole industry, it is less your degree and more your university.

That being said looking on their careers site, for Traders it looks for quantitative degrees and economics and finance aren’t listed as options.

 
Most Helpful

Nesciunt veniam maxime autem et quas ex voluptatem. Repudiandae qui sit tempora similique voluptas. Fuga dignissimos et ab dicta et asperiores. Animi aliquid iure voluptatibus ducimus a. Et minus delectus fugit.

Non dolor odio odit sunt earum mollitia. Exercitationem et qui exercitationem necessitatibus est est distinctio laudantium. Et atque quo dolor amet consectetur. Voluptates dolor necessitatibus illum ab unde est. Officia provident molestiae ducimus eligendi. Autem iusto eos excepturi quia laborum. Ipsa sed corporis ut quas.

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
Secyh62's picture
Secyh62
99.0
3
BankonBanking's picture
BankonBanking
99.0
4
Betsy Massar's picture
Betsy Massar
99.0
5
dosk17's picture
dosk17
98.9
6
CompBanker's picture
CompBanker
98.9
7
kanon's picture
kanon
98.9
8
GameTheory's picture
GameTheory
98.9
9
DrApeman's picture
DrApeman
98.9
10
Jamoldo's picture
Jamoldo
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...”