When do top quant and trading firms open internships?

Which top quant firms are open right now?

The table below reads each firm's own careers site. Open means we have seen the live posting there, Expected means last cycle's public record says it is coming, and No data yet means neither is true.

The group here is Jane Street, Citadel Securities, Hudson River Trading, Two Sigma, D. E. Shaw, SIG, Optiver, Jump Trading, IMC, and Five Rings. Some are market makers, some are research-driven funds, and they hire for different roles.

• Jane StreetOpen6 open now
• Citadel SecuritiesOpen2 open now
• Hudson River TradingWatching
• Two SigmaOpen1 open now
• D. E. ShawOpen2 open now
• Susquehanna (SIG)Open10 open now
• OptiverWatching
• Jump TradingOpen2 open now
• IMC TradingOpen3 open now
• Five RingsOpen2 open now

How does this group open differently from banks?

Three things set it apart. The firms open earlier, in the fall before the summer rather than a year and a half ahead. They post each role on its own: a firm can have its trader internship open and its research internship not yet posted. And the titles usually leave out the year, so a fall posting that reads Quantitative Trader Intern is for next summer.

The wider quant path, including firms beyond this group, is in the live table further down. The quant timing guide covers the window itself; this guide is about how the top firms behave inside it.

• Roles post separately: trader, researcher, developer, sometimes a general intern role.
• Titles rarely carry a year, so read the start date in the posting body.
• An online test often arrives within days of applying.
• Interviews run back to back through the fall, so later applicants face fewer open seats.

How do market makers and quant funds differ for interns?

Market makers such as Jane Street, Citadel Securities, SIG, Optiver, IMC, Jump Trading, Hudson River Trading, and Five Rings make money by quoting prices and managing risk across many trades. Their trader interviews lean on probability, mental math, and games where you quote and update.

Quant funds such as Two Sigma and D. E. Shaw lean more on research: statistics, modeling, and code. Most firms in both camps hire developers and researchers too, so the role you pick matters more than the label on the firm.

Which offices do these firms hire into?

New York and Chicago carry most US quant internships. Chicago is home to Optiver's and IMC's US offices and to Jump Trading, and several New York firms also hire there. SIG is based outside Philadelphia. Some firms run one US class across offices and place you later, while others post a role per city. Read the location line before you assume.

What does a good fall look like for quant?

Here is a week-by-week plan for a student who has prepared over the spring and summer and wants to apply across this group. If you are starting in November, compress it: apply to everything still open this week.

1. Late July: track every firm and role you would take. Pick trader, researcher, or developer for each firm.
2. Early August: final check of the resume, with grades, contest results, and code projects at the top.
3. First weeks of the window: apply to each role within days of it opening. Do not wait for a full set.
4. Each week: two timed probability sets and daily mental math, so a test that arrives on short notice is routine.
5. After each interview: write down every question you were asked and drill the ones you missed.
6. By late fall: if you have no offer, look at quant roles at banks and asset managers that recruit later.

Questions students ask

Should I apply to trader and researcher roles at the same firm?

Only if you would take either and can show fit for both. Many firms let you apply to more than one role, but a focused application is usually stronger.

Do these firms hire freshmen and sophomores?

Several run short programs or events for first and second year students. They open on their own dates and are worth tracking separately.

Do I need finance coursework for these firms?

No. They hire math, computer science, statistics, and physics students and teach the markets part. Strong problem solving and grades matter far more.

Does networking matter for quant firms?

Much less than in banking. The tests carry the decision. A referral can help an application get read, but it will not carry a weak test.

Why does a quant posting have no year in the title?

Quant firms reuse the same title every cycle. A posting with no year seen in the fall is for next summer; one still up in the spring is for this summer and is usually closing.