Quantitative Research Intern
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Job Description
About Susquehanna
Susquehanna is a prominent financial firm that offers what it describes as “the best quant internship program in the industry,” designed to attract and retain top talent for full-time careers. The company fosters an open, highly collaborative, and fast-paced environment, emphasizing comprehensive education and personalized mentorship from experienced professionals. Susquehanna’s core business involves leveraging quantitative research, statistical analysis, and machine learning to predict market behavior and develop sophisticated trading strategies. They encourage a competitive spirit, evident in their use of simulated competitions and their interest in candidates with backgrounds in strategic games. Susquehanna has offices in Philadelphia and New York.
Job Description: Quantitative Research Intern
The Quantitative Research Intern position at Susquehanna is designed to provide a comprehensive and immersive experience, mirroring the work of full-time quantitative researchers. Interns are expected to develop foundational knowledge in quantitative finance while actively contributing to real-world trading strategies.
What You Can Expect (Core Responsibilities & Learning Opportunities):
• Modelling: Interns will apply advanced quantitative techniques, including probability theory, statistical analysis, and machine learning, to analyze market behavior and generate “alphas” (predictive signals for profitable trading).
• Execution: The role involves developing and refining strategies for executing trading ideas, often under conditions of simulated competition, to optimize performance.
• Evaluation: A critical component is the rigorous backtesting of ideas using historical market data, followed by iterative revision and improvement of strategies.
• Breadth: Interns will gain exposure to a wide range of quantitative work and explore different facets of Susquehanna’s diverse business operations.
• Education: A central pillar of the program is a comprehensive education curriculum coupled with personalized mentorship from industry leaders, designed to significantly accelerate professional growth in quantitative finance.
• Collaboration: The internship emphasizes working in an open and collaborative environment, engaging with multiple teams and gaining broad exposure to various groups and business areas within Susquehanna.
Compensation & Perks:
The Quantitative Research Intern position is a ten-week program with attractive compensation and benefits, including:
• A weekly base salary of $6000.
• A signing bonus.
• Provided housing.
• Complimentary breakfast and lunch.
• Additional perks.
What Susquehanna is Looking For (Qualifications):
Susquehanna seeks highly talented individuals with a strong quantitative background and specific attributes:
• Education: Candidates must be PhDs (in their penultimate or final year) from quantitative fields such as Mathematics, Physics, Statistics, Electrical Engineering, Computer Science, Operations Research, or Economics.
• Analytical Skills: They look for analytical problem-solvers possessing excellent logical reasoning and a genuine passion for transforming data into actionable decisions.
• Communication: Interns are expected to be clear communicators capable of thriving in a fast-paced and highly collaborative environment.
• Programming Proficiency: Comfort in processing and analyzing large datasets using Python is essential. Experience with C++ or another low-level language is a significant advantage.
• Strategic Thinking: Demonstrated interest in strategic games and/or competitive activities is highly valued, indicating a strategic mindset.
• Personal Attributes: Ideal candidates are self-motivated, quick to learn, and capable of excelling in a dynamic, fast-moving environment.
Application Information:
Applying to this Quantitative Research Intern role automatically ensures consideration for the Quantitative Systematic Trading Internship program as well, eliminating the need for separate applications. The recruiting process for this position is set to begin in July. Susquehanna maintains a policy of not accepting unsolicited resumes from external recruiters or search firms unless a signed agreement is in place.
