Foreign, You want to know what it's like to be one of the world's best Traders Or really, what I should say is working at one of the highest performing trading organizations in the world? Well give this a listen: Citadel Vets 69 000 internet applicants to find next math geniuses. Do you know them as the world's biggest, most prolific Market maker? between Citadel the market maker instead of the hedge fund, they're pulling in billions and billions and billions of dollars a year in a hotel Ballroom Overlooking the South China Sea 24 year old Taylor sits with 13 other University students in hoodies and sneakers coding away on laptops during their school break. The two jacked up security guards sitting outside the hall signals this is no ordinary summer camp. The students flew business class from as far away as California and Singapore to spend several nights at the five-star Fullerton Ocean Park Hotel in Hong Kong Obviously trying to get one of the coveted spots working at Citadel, the highly sought after interns were hand-picked from 69 000 Apple by billionaire Ken Griffin's lieutenants at Citadel and Citadel Securities as the finance giant looks to groom the next generation of math and computer whizzes that have helped it become one of the key components for market trading once again, I'm in no way saying it's moral I'm really sharing all this so you guys have a better idea when you're saying we're going against Citadel These are the types of people you're going against.

So when I see some of this Insanity on Reddit on Twitter Just convoluted ideas, unbased ideas, just things that have no semblance of logic or reality. And then I think about the person who you're quote, unquote fighting against at Citadel I'm like, oh, wow, these are actual Geniuses Now I'm not saying that they're necessarily like good people, moral people, but when some of these people are just popping off with the most insane ideas and clearly don't know what they're talking about. and then I read things like this and I understand. Whoa.

This is like their intern level like the lowest within the entire company. That's crazy. Over three days, the students will play the role of hedge fund Traders negotiating with counterparts, writing code in devising automated strategies based on simulations with news feeds and macro data. It's all part of a roughly 11 week program to prepare them for often secretive world of trading and Market making earning about a hundred and twenty dollars an hour along the way.

or nineteen point two thousand dollars a month. That's crazy. As in starting out at a quarter Mill a year. there's only a finite pool of truly exceptional students because of the complexity of what we do and the fact that companies that intersect with us will be looking at the same people we need to get in early.

It's some of the best coders Traders some of the best mathematical Minds I mean they're picking winners of the math Olympia Like these really are on an intellectual basis. Impressive people. Unlike job interviews, the intern program is packed with real-time problem solving, social and learning, and highly interactive activities. There are no surprises by the end of the process.

even meals are a test. One of the many markers for students is their interaction with company leaders during networking dinners. Citadel Brings them professional trainers to groom them with exercises that include writing an email to A Boss by condensing a rambling 163 word note down to fewer than 60 words. Honestly, that's a skill set I Think we could all have.

It's like lessening how much we say things in our emails. Another involves videotaping themselves for self-introduction where they are taught to project their voice, match their facial expression to their message, and avoid the pitfalls of filler words and up speak intonation. They're also given personality tests and taught how to seek feedback by summarizing what other people say and you might be thinking to yourself, why is it so competitive? Why are they giving out so much money? Why is this even a thing? And the answer is because the upside is so much more. Hedge Funds at War for top Traders Dingle 120 million dollar payouts.

We're talking for individuals: 120 million dollars When Portfolio manager David Lipner said he was quitting billionaire Izzy Englander's Millennium management to join a rival the hedge fund counter with an unusual proposal, a one-year paid sabbatical, and an incentive upon return if Lipner stayed. So basically saying, we're going to give you all your money and you can take a whole year off, Of course, he's gonna stay and stay. He did. for Millennium, the 50 billion dollar industry giant known for the ruthlessly cutting underperformers, the generous offer was seen as totally worth it.

After all, Lipner had made money for the firm for more than a decade longer than most hedge funds remain in business. Such enticements are now becoming part of a growing array of expensive tools the world's biggest hedge funds are deploying to hire and retained. Traders They show how a limited pool of talent and surging demand for steady returns in a volatile Market are prompting firms to pull out all the stops to attract the best with clients footing the bill. The hunt in is no different from bidding war of the Premier League or NBA players.

One executive said last year a senior portfolio manager was lured by a major New York fund with more than 120 million in guarantee payouts. According to a Headhunter who said he's done several deals, paying north of 50 million in contracts worth 10 million to 50 million are increasingly becoming common for Traders. That's ridiculous. That is a lot.

A lot of money and it makes sense. Long-term performance Citadel per year, annualized return 19.7 and then even here at the bottom, seven percent Return: 0.72 11 You have a Millennium at 13.4 like they're just making so much money. So if you're making billions and billions and billions well, of course you're gonna to keep that. Talent You're gonna pay them many, many millions.

How would you like to be offered a year off work and still get paid for it? Incentives like these are part of a growing out of tools being dangled before a limited pool of talent. Millions of dollars in guaranteed sign-on bonus you'll pay out during your initial days of trading or taking care of the different compensation that your previous employer withheld when you decided to leave. No worries at all, your potential employer will take care of. All these cash funds have become significantly large, right with their assets and this Capital can only be deployed with the returns that they want.

It's called Talent The deal is if you attract the best talent, you keep growing as a firm and you can keep raking higher fees. I Think recently it's been more about a capital going to Market Streets over the past few years has been immense. In the last I would say two to three years. You know some were barely a billion to two billion are now reaching 10 billion or more.

Industry insiders say that this is no different from Premier League or NBA player bidding wars. Last year, for example, one portfolio manager was delivered with a 120 million guaranteed payout. This is according to a Headhunter who has completed several 50 million plus deals. and while this may be the top end of the spectrum, contracts worth 10 to 15 million are now increasingly getting very common for Traders those big packages.

um Dude where's my package? I'll take one of those baby 10 million dollar packages and the best. Well, their clients are paying for it all. What we have seen is with the more established players that have been around for tens of years is the trust has been built and investors trust these managers. uh for managing their capital and responsibly, these have gone so high that investors only get about 45 percent of our trading profits.

the rest is consumed by the hedge funds themselves and their War for talent. We have found less experienced Talent being recruited uh into groups that we wouldn't have seen them otherwise. being recruited two, three, even maybe five years ago. I've not been anything like this before and there's just never been a better time to be a Trader Never been a better time to be a Trader How much money would you have to be paid as in a guarantee to go be a Trader for a hedge fund? let me know, let me know your what's your number where you're like hey, I know I'm gonna make this so I'm gonna go trade for that person um because that is some serious serious cash.