The Internship That's Harder to Get Into Than Harvard
Citadel and Citadel Securities just welcomed their biggest intern class ever—over 350 students—but getting in was more competitive than ever. With 115,900 applications flooding in, only 0.36% made the cut. That's tougher than Ivy League admissions.
What Makes This Internship So Coveted?
Interns don't just fetch coffee. They work on real business projects that impact the company, get weekly one-on-one mentoring, and present their work for a return offer. Most receive full-time offers—and campus recruits are twice as likely to become high-performers.
The Pay Package
- Weekly base salary: $4,300 to $5,800 (depending on role)
- Signing bonus included
- $15,000 housing stipend or company-provided housing
A Bright Spot in a Dire Market for Gen Z
While many companies are cutting entry-level hiring, Citadel is ramping up. But the competition is fierce:
- Internship postings on Handshake dropped 16% this year
- Big tech hires of recent grads fell from 15% to 7% since 2019
- Applications per internship doubled from 62 to 109 in one year
Other Companies Betting on Young Talent
- IBM is tripling entry-level hiring, even for roles AI was supposed to kill
- Reddit CEO Steve Huffman is hiring young digital natives for their tech savvy
- Cognizant is hiring more school graduates than ever
"The companies three to five years from now that are going to be the most successful are those that doubled down on entry-level hiring in this environment." — Nickle LaMoreaux, IBM CHRO
The Takeaway
Landing a top internship requires exceptional preparation and persistence. But for those who make it, the rewards are substantial—both financially and in career trajectory.
Comments
Join Our Community
Sign up to share your thoughts, engage with others, and become part of our growing community.
No comments yet
Be the first to share your thoughts and start the conversation!