Citadel

How the process runsTypical for a hedge fund

1. 1ApplicationTypicalOnline application with resume. Networking often decides who is read closely.
2. 2Online assessmentTypicalSome funds use timed tests or a take home stock pitch early in the process.
3. 3Phone screenTypicalOne call, 20 to 30 minutes, fit plus a few technical questions.
4. 4First roundTypicalA portfolio manager or analyst: your story, a stock pitch, and questions that probe the thesis.
5. 5Final roundTypicalSeveral interviews, often a case study or a model and a pitch on a company you are given.
6. 6OfferTypicalUsually within days of the final round.

Timing between stages shows on each program page once students report it. Firms change formats by year and office; the firm's own invite is the final word.

What it tends to weighTypical of a hedge fund

• A stock pitch with a variant view: what the market misses and how you will know you are right.
• Risk: position sizing, what would make you cut the idea, and how the trade fits a book.
• Accounting and valuation used as tools for the thesis, not as recitation.

behavioral

4 questions

markets

8 questions

technicals

6 questions

modeling

3 questions