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Quant Research Intern
As a quant researcher intern, you will gain a deep understanding of quantitative trading. You will use the latest statistical scientific algorithms, machine learning techniques, and derivatives pricing theory to analyze and solve complex problems in a real trading environment. You will work with diverse groups of individuals to implement and validate new trading strategies.
Position description
In a quant research internship, you will conduct research on various datasets and develop quantitative investment hypotheses. You will be expected to use the latest statistical and machine learning techniques to analyze data and find patterns. You will also work closely with software engineers and portfolio managers to implement quantitative strategies. You will learn how to develop trading strategies and model portfolios.
The ideal candidate will have a quantitative background in math, statistics, finance, operations research, or some other quantitative field. Additionally, candidates should have experience with machine learning and time-series analysis. They should also have some programming experience in any programming language, with a preference for Python. In addition, you should be self-motivated and have an entrepreneurial spirit.
Qualifications
A quant researcher intern has a unique opportunity to learn the techniques of quantitative trading and work closely with the senior team. They utilize the latest statistical scientific algorithms, machine learning techniques, derivatives pricing theory, and data analysis to solve complex trading problems. Their work focuses on non-latency sensitive investment opportunities and multi-asset class derivatives strategies. The internship allows interns to gain a deep understanding of quantitative trading and work with people from different backgrounds and fields. They will use custom research infrastructure to perform simulations and validate their work.
To get this internship, candidates must be educated in quantitative finance, probability, statistics, and coding. In addition, they should have extensive experience in machine learning or time-series analysis. They should also be familiar with Python and have a keen interest in the trading industry. Finally, they must be highly motivated, self-motivated, entrepreneurial, and have strong analytical skills.
A quant researcher intern helps companies with their financial issues. They research the financial situation of a company and identify risks and problems. This role requires a combination of computer skills, mathematical skills, and an understanding of the company’s financial system.
Compensation
There is a wide range of Quant researcher compensation, from an entry-level role to a full-time position. Starting salaries are typically between $200K and $300K USD, and many hedge funds offer signing bonuses of 50 to 100% of base salary. The compensation is competitive with investment banking salaries, and a Quant researcher may be able to earn as much as $400K USD at the beginning of their career.
Many people who start in a quant internship eventually transition into a full-time role. This position is less stable than that of a PM, but compensation can be very high. Many multi-manager hedge funds have clearly defined career paths and promotion criteria. However, to increase your chances of success, it is best to work in a smaller team, assume more responsibility, and develop direct relationships with LPs.
Some of the top firms pay their interns based on their technical roles. Analysts at D.E. Shaw can earn up to $114k pro-rated, while those at Two Sigma earn around $101k per month. The Citadel also pays well, but Wall Street Oasis suggests that Point72 and Bridgewater are particularly stingy with intern pay – $87k, or less.
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