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citigroup1Hello ? we are glad everyone came to the chat room to hear about opportunities at citigroup. We spoke last month about the opportunities in the equity derivative department for top developers.
citigroup1 This time we have also included Gareth Gaston from our statistical arbitrage group
citigroup1Both groups push computing power to its limits.
citigroup2Hi folks -- Gareth Here.
BEHiker57WWhere does Citigroup employ developers in the groups we are discussing?
gt494let's see who has the difficult questions for citi 1- 3, and amirshim
citigroup1Both offer some of the most quantitatively challenging development experiences around. We have around 5 positions that can be filled.
citigroup2Where physically? Mostly in New York, but also in Warren NJ.
subodhl82Hi All!
RalphFurmaniakI am studying pure math and computer science. I am interested in working at citigroup when I graduate and/or as an internship. I was wondering what would be suggested
RalphFurmaniak for courses and how important this would be. I will definitely be taking a couple finance math courses, but was also considering doing the finance option, though that would be hard to fit in. What would actually be useful?
citigroup1we employ developers in London, hong kong, australia,
amirshimamir here... both a topcoder member and citigroup employee.
citigroup3hey, I'm Jordan. I've been at Citi for 2.5 years now
citigroup2Finance courses are useful but not necessary. At least in Stat. Arb.
citigroup2the models are often only 10% of the solution --
BEHiker57WHow about Dublin, Eire; San Francisco, or Salt Lake City?
citigroup2most of the rest is a very hard computer engineering problem
gt494citigroup2: and the other 90%?
nhzp339citigroup1: I am very interested in the positions in HongKong, could you tell me more?
mariozivicHow about Zagreb? :)
citigroup1we have internship opportunities. I would suggest checking out the 'hybrid' quant and trading program
RalphFurmaniakSo having a solid cs foundation is more useful than trying to fit in finance math?
citigroup1info is avaliable on our web site
v_ralevcitigroup, you know it would be very interesting to show us some sample problems you've been working on, i mean post it somewhere, not explaining now...
meshachWhat are the chances of gettin into an internship if we already graduated ?
incessantcitigroup1: Does your department have a presence in India ? or other departments ?
citigroup1The core positions lie in trading system and algorithm development. We have 2 core development efforts.
citigroup11 effort is our market making systems where we quote vanilla derivatives.
lironkwhere are you located?
citigroup1In this group ? the products are relatively straightforward to value but the data capacity is enormous.
citigroup1. In the other group ? ?EQTG? (equity quantitative trading group) ? we have far more complex exotic derivatives to value.
citigroup1These securities can be very complex to value and very complex to calculate in a real time trading environment.
harvey6ftWhat's the work environment like at Citigroup?
m_picoWhat programming languages do you primarly use?
revtekniquesJava? C++?
vlad_Dbc
citigroup2All of the above (Java , C++ ) plus C# and perl
v_ralevvb? :P
b0b0b0bdo you have in mind a number of positions you are seeking to fill?
lironkis the EQTG is for options using the Black-Scholes or other models/securities?
citigroup2The work environment is fast paced, but friendly; we all sit out on the trading floor
subodhl82How often do you take in ppl for full time positions who havent had any internship experience in citi?
Krzysanwhen is the best time to contact you about internships?
AegypterHallo Citigrou
citigroup3It's a pretty cool enviornment here...we're not in cubes...it's a gigantic trading floor. Things can get pretty exciting when the market starts to move.
amirshimWe hire people all the time regardless of them having interships.
rguiuciti2: on the trading floor? with the brokers? Can they go and talk with your team?
citigroup2Not really brokers but institutional traders, salespeople etc.
m_picoHow much does a junior developer make at citgroup?
revtekniquesif anyone here is interested in these positions, please contact me at jquach@topcoder.com
HomemPalindromoHi. Does C
citigroup2And yes the "geeks" and the business folks interact a good bit.
HomemPalindromoHi. Does Citigroup do outsourcing ?
lironkjohn is very nice, from personal experience
theMadhouseWhat does it take to work at citigroup?
tolkienfanThe description of the work your looking for seems more aimed towards understanding concurrency and reducing latency with high bandwidth and so on than algorythm design. With that in mind, how would you describe you requirements?
revtekniqueslironk: thanks liron
subodhl82your online application section is pretty huge
subodhl82what would be the best time to contact you for ft positions starting next may?
citigroup2Don't you think those sorts of problems require good algorithms?
citigroup1we work on the institutional trading floor. there are 1000 people on the floor. there are no brokers as it is traders and salespeople for top money managers
gt494subodhl82: go here to apply http://www.topcoder.com/tc?module=Static&d1=contracting&d2=citigroup
citigroup1we do outsource - but these are for top positions. other groups are the most frequent users of outsourcing2005-07-19 20:14:15.238 Krzysan do you do internships?
citigroup1We are not looking for candidates with any set level of experience. We are looking for candidates that are the best at what they do.
citigroup1We are looking for people that understand development at a core level ? have a solid math background and work very hard.
citigroup1This means that are hiring is more selective than almost any other positions around.
citigroup1Because of our selectivity ? we pay well in excess of most any traditional development position in or outside of wall street.
subodhl82gt494: ty
gt494subodhl82: np
b0b0b0bcitigroup1: that means well over 100k+ ?
tolkienfanI'm of the opinion, particularly with concurrency, that you need some real intuition and experience, especially when the volumes increase
gt494citigroup1: can you define core level for the group, meaning try to elaborate a little further
Aegyptercitigroup1: Do you apply parallel computing in your applications ?
citigroup1we wont lose a person we really like. yes - this means any top developer earns well above $100k. There is differing levels of experience - so it does depend
citigroup1the career growth is very visible
citigroup2In stat. arb we do a lot of "grid" computing using a cluster of Linux boxes
citigroup3yes, in terms of parallel comp, many of our problems scale well. we're increasing our use of cluster / grid
theMadhouseDo you think Citigroup is a good company to make a career?
citigroup2I've been here 10+ years, so yes.
citigroup1it may seem like a big company on the outside but every group is small. We opperate like a small group dedicated to getting things done
incessantcitigroup1: Do you have open positions in India ?
citigroup3I've had a great experience @ Citi & have met so many people, who do such a variety of jobs. I think there are fewer places where you can learn more
tolkienfanHave you considered IBM's new cell processors? The shear bandwidth must be tempting, although I'm not familiar with the target problems to guess whether they are suited to vector processing?
gt494citigroup1: what is the best selling factor to work for citi?
Aegyptercitigroup1: this is interisting, and which programming paradigms are you using ? for ex. MPI, OpenMP ?
citigroup2Our groups do not have openings in India at the moment. Other parts of Citi might.
b0b0b0bthis opportunity sounds awesome, I look forward to submitting my application
theMadhouseand Gareth, how easy is for someone to increase his responsabilities?
citigroup1best selling factor is that our problem is the most interesting out there. we only hire the best so it the people are very smart and we have a lot of fun. work can not be a chore
revtekniquesb0b0b0b: I will be sending you an email shortly
b0b0b0brevtekniques: cool, thanks
unChabonSerioHI
amirshimAegypter: We usualy code multithreaded code directly... we found that we can usually do better than OpenMP and MPI.
citigroup1i run the group developing relative value trading algorithms. i am 28. it is a big meritocracy
citigroup2There is not a lot of heirarchy -- so you can move up fast if you have what it takes.
Aegyptercitigroup1: So you are using your own library
theMadhousenice :-)
b0b0b0balso, thx for sponsoring some srm's
unChabonSeriothnks
Aegyptercitigroup1: Does your applications usually scale with parallelizaation ?
citigroup3we've been playing around with Intel's vector libraries and have I think there are some big breakthrough that can made in using vector techniques for derivatvies pricing
amirshimAegypter: we are... and we can tailor it to exactly what we want. I find the OpenMP is not that usefull for our problems.
citigroup3most of our applications are relatively large grained and scale quite easly.
Aegyptercitigroup1: I guess openmp is limited and doesn't scale up with a lot of processors
citigroup1our problem is inherently parallized. ie we have a predictive model for a given stock or option. we need to value a complex derivative. this means that poor man's parallezation works quite well. you dont need to do much to get grid computing to work
citigroup2As I said before, we find the grid paradigm very useful for trying out new ideas very quickly.
parkerIs any financial/accounting/economic knowledge required for positions?
citigroup1no. we will teach that.
meshachWhat is required?
citigroup2But apptiturde (i.e. some math) and interest are.
theMadhouseHow easy is for someone to propose new ideas to his/her boss? and to make the come true?
citigroup1math is. we can't teach math and technical knowledge. finance is easy if you know math
citigroup2Intelligence and programming skills are required.
citigroup3no finanace background required...though you have to be interested in learning
unChabonSerioVARISHKY NOTTA!!!!
subodhl82how long is the training program for fresh grads?
meshachthat's great, how do we apply?
Aegyptercitigroup1: and how many processors are you using in your grid ?
salmanmanekiawhat's a prospect for a telecom engr. having good programing skills
meshachwill there be an tech exam for candidates?
gt494meshach: http://www.topcoder.com/tc?module=Static&d1=contracting&d2=citigroup
v_ralevcitigroup1: do you consider your applications critical? i mean if something fails could it result in a massive loss of money, bankrupts , etc. ?
citigroup1official traing depends on experience. if a new grad - it is 2 months. the real training is on the job. it is key who you sit next to
citigroup3it's very easy to proposs new ideas and have them heard by senior people....The trading floor is very conducive to this. I sit literally 2 feet away from boss.
citigroup2Yes the systems are critcal. Systems errors can cost the firm a lot of money.
lironkis it possible to move later from thet echnical to the business?
citigroup3200 procs on our grid
amirshimtheMadhouse: it is easy to suggest ideas to your boss.. and usually they are fully accepted when they have merit.
citigroup2and growing..
citigroup2Let me ask you guys a question: How many of you (before today) were considering working in finance?
lironkme me me me
ByronC*raises hand*
citigroup1we had a well publized 'bug' that caused us to accidently buy $1bil of stock in 1 second. it didnt cost us too much money but it is a big problem. the problem was a result of human error in combination with
citigroup1 a saftey check we should have had in retrospect. it is difficult to make fault proof systems
subodhl82as a tech analyst in finance, yeah
lironkbefore going to software i always wanted to be a hedge fund manager
harvey6ftcitigroup1: what's the most challenging thing about your job?
BEHiker57WI would have liked to work in fanance, but can't persuade the family to move to Manhattan.
tolkienfanIt's practically impossible to guess what your users might do - I know that from experience!
citigroup2We have a very nice new office (former Lucent campus) in Warren NJ if anyone is interested in working there.
b0b0b0bI know a guy who's doing programming on Wall St. I've always found that class of problems interesting.
Aegyptercitigroup2: could you give me an idea about that challenging problems which are waiting to be solved ?
citigroup2Some of the alogithmic trading systems are developed there as well.
Aegyptercitigroup2: Well I don't have any idea about finance
citigroup1harvey6ft: most challending is that i have no idea what i will do each day. how we will solve a problem or what tool we will need to use. we are engineers solving hard problems via software
citigroup2In Stat. Arb. we don't even have any models -- no one knows what the right price of a stock is.
tolkienfanHow are you using AI? And what kinds?
citigroup3one things that's cool about this job, is that the users are often sitting 20 feet away. You get instant feedback
v_ralevcitigroup2: ?
citigroup2Don't use a lot of AI -- just normal I for the most part.
citigroup1ai is a dangerous word. we build very intelligent algorithms to make decisitons.
tolkienfanhaha - The description specifically mention AI
lironkI wrote an automatic option trading program but never had the guts to send it to 'production'
v_ralevcitigroup2: no one knows the price? then how can you say this algo is good, this one is bad?
tolkienfanDoes it make more or less money than the last?
citigroup1you know how much money it makes each day. that is the ultimate scorecard. pretty fun!
subodhl82do u work on web services?
citigroup2With options you have Black Scholes; with stat. arb. all you have is induction and some behavorial finance stories to tell.
amirshimsubodhl82: we do web services... mostly to monitor our systems.
citigroup2Yeah you find out pretty quickly if your models are working or not.
Aegyptercould you give me an idea about the most challenging algorithmic problems you currently face
subodhl82oh great
rguiuso could I use your statistical arbitrage applications in a "betting fair" online?
citigroup1price 500,000 options simultaneously and react in less than 50ms. buy options that are 'cheap' and sell options that are 'rich'. looking at all that data is very hard
amirshimsubodhl82: but also to make quick adjustment to "security master" data... such as yield curves, etc...
citigroup2I don't know about most challenging, but one hard one is how to represent the Level II "book" historically in a way that is fast enough to do research on and does not use all your disk space.
Ragnarokhi all
revtekniquesRagnarok: hello
subodhl82amirshim: are ur groups distributed all over or based in ny ?
citigroup2Take a looks a "island.com" for an example of what I am talking about.
citigroup1we use KDB as a time series database. normal databases are too slow to look at over a terribyte of data
ByronCI would suppose that working steadily on the trading floor with instant feedback from those around you would be a high-pressure situation. Do you find it as stressful as it sounds?
tolkienfanSounds like an "encoding" problem
amirshimsubodhl82: Our group is based in NYC, but we do have other groups all over the world.
citigroup2The floor can be stressful at times, but I find the "white noise" easier to tune out then someone talking on the phone in the next cube.
HomemPalindromo/whisper alberto
subodhl82non techie question now: how do mergers affect groups like yours?
ByronCThat makes sense to me.
aaronscI have to ask what happened to the employee responsible for the well published 1Billion dollar stock bug
citigroup3Some jobs are more high-pressure than others, but I don't think any are really that stressful.
lironkhow much back "historically" do you go on the Level II? How far from the "center" do you go?
citigroup2I've live through a lot of mergers and after every one the mantra is more automation and more computers....
citigroup2Can't give away all of our secrets :-)
citigroup1nothing. there is never 1 person. it is a team. we have lots of of 'bugs' at all times. it is an optimization of which gets fixed or upgraded first.
lironkit wasn't for the secret...it was to estimate the amount of data...
BEHiker57WWhat hours do developers work in your division? Not officially, but really. Do people all work 9-6? Are there Noon-10p types? 50 hours? 60 hours? Weekends? Does anybody ever go on vacation?
subodhl8260+ at least right?
amirshimsubodhl82: I'm actully a product of a merger. I used to work for Knight Securities, but our subsidiary got bought by Citigroup... all it did was open up lots of opportunities.
citigroup2It depends on for what problem -- some we have many years of data.
citigroup160 hours is my guess. we are pretty flexible on start time. some groups very involved in the real time systems are in early. others come in later. 9am start is about the latest though
lironkamir did you work for knight all the way or arbitrade before that?
amirshimarbitrade
ByronCWhat level of programming proficiency is expected of potential candidates? I've got a reasonable meta/pseudocode approach, but I can't seem to perfect the little things that make programs compile and run smoothly.
amirshimor LCT
rguiudo you use any kind of software enginering methodology, writing good documentation, code reviews? Or basically is fix this now and write docs afterwards if you have time.?
yiuyuhohe
yiuyuhodump question
yiuyuhohow u get rig of the system tells
subodhl82amirshim: are u more centered using java or .net?
citigroup1we are c++ and c#. very little java
amirshimsubodhl82: Our group does more .net development than Java.
citigroup2Whereas my group uses c++ and java and no C#
GoodBoyFrancisvery little java? no web apps using java?
m_picoi find it hard to believe that c# can do anything in 50ms
citigroup1c++ for high speed. c# for more and more. even the algorithms are mostly being developed in c# now
TAGcitigroup1: Have you found candidates for your positions since last SRM/chat ??
citigroup1m_pico: that part is c++.. C# is remarkably quick though
butlerHow do you think C# compares to java? Is there any reason one group uses java rather than C#?
subodhl82server side java i would have guessed
amirshimm_pico: .net is a very powerful platform, JIT can has great performance... as long as you use it carefully.
jay_hollacitigroup1: are you guys currently recruiting fresh grads?
citigroup1we generally build our people right out of school. we try to avoid the people that perpetually flip jobs. everyone on this chat more or less has been at citi since their career began
citigroup2There is a lot of server side Java -- C# is just newer so there is less of a base.
citigroup3yes, we are looking for reecnt college grads. we don't care about experience. We want smart people.
doctor_darkI would assume that J2EE would offer a lot of server side functionality that would be hard to cover with .NET
butlerHow do you determine who is a "smart person?" Do you have tests administered during the interview process?
mehfishcitigroup1: so do you not value finance/options/trading experience?
subodhl82amirshim: hi i had asked this before, i will be graduating in may 2k6, then what would be the best time to contact you for ft positions?
kngeniusg
citigroup1doctor_dark: code base is less important as much is very specific algorithms vs. code base needed for 'standard' tasks. littly of our development is standard
TAGsubodhl82: in 3k0 ;-)
jdcarrI keep hearing from employers that it's a concern if your resume reports that you've been at the same job for more than say, five years. Would you agree?
m_picowhat about more expressive languages like lisp or ml ?
citigroup3we start fulltime recruiting for college grads in the fall
karthikcitigroup1: is the recruitment process for a tech job at citigroup global - because as far as I saw in Singapore most of the vacancies were related to investment banking
citigroup2I would say the opposite: I am suspicious of people who move around too often.
Ragnarokcitigroup3: so, you are looking for smart people. I'm smart ;). What shall I do or can I do to contact with you and to get a job?
citigroup1karthik: we do little to no development in singapore. hong kong yes..
gt494Ragnarok: apply here: http://www.topcoder.com/tc?module=Static&d1=contracting&d2=citigroup
revtekniquessubodhl82: you can send me an email a couple months prior to your graduation date... jquach@topcoder.com
jdcarrwhat would you consider "too often"?
coshxhow much of the time would you say you're doing research, and how much of the time are you just coding?
citigroup3Ragnarok: talk to the topcoder people to get in touch with me
citigroup2In my mind you're never "just" coding. Most of my research is coding.
revtekniquesRagnarok: sent you an email... :)
citigroup2But it really depends on what you're doing. Everyone in our group spends most of their day writing software.
Ragnarokcitigroup3: ok, thank you.
czarcitigroup1: have you hired any topcoder members since the last chat session?
citigroup2A lot of which does research.
karthikcitigroup1: so are the tech positions completely country specific - i.e can i apply for one from a different nation?
Ragnarokrevtekniques: and thank you.
jdcarrpractical question: what would be the average salary for a new developer fresh out of college?
amirshimcoshx: It depends on what you consider research... If you consider design to be research then 90/10 (r/code)
coshxcitigroup2: well, the way i look at programming is that we research the algorithms and the design, and then the code's pretty straightforward, but we still need to hack it out. i was just wondering how much you spend considering algorithms/design.
TAGcitigroup2: Have you hired / contacted some TopCoder's since last chat/SRM ??
citigroup1czar: no. we have hired since. but not topcoder yet. we have a high reject ratio. we are very demanding. We have interviewed quite a few and a number are still in the process
revtekniquesTAG: they are in the process of interviewing TC members
citigroup3research and coding are part of the same beast...the job is not about sitting in room with a whiteboard and coming up with super-fantatastic models. If I spend a day building a framework backtest trading strategies, is that research or coding?
citigroup3It will involve looking at lots of data but interspresed with programming refinments
tolkienfanIt's research
tolkienfanAnd fun
amirshimIt's lots of fun.
citigroup2Ditto
smartgirlThanks. So basically you want research people.
czarcitigroup1: I am just curious what color were the topcoder members whom you have rejected?
citigroup2That said, not everting we need is reasearch. Other fun projects involve making transactions faster, or processing more market data, etc.
coshxczar: i think they are an equal opportunity employer :)
smartgirlI am curious about that too. in your mind, topcoder of what color will be considered? thanks
amirshimsmartgirl: smart and motivated.
czarcitigroup1: oh sorry I meant color = rating
citigroup3Or even building better visualization tools...how do you aggregate 500,000 prices and lets people quickly drill down in reall time to see what's going on in the market?
czarcitigroup1: in the context of rating
tolkienfanYou can't judge a coder by their color!
citigroup1we have positions that are more research like. we also have more pure development. dont be scared if you are more on the development side than a hybrid quant / developer
gt494great chat session btw!
tolkienfanWhat do you mean by "quant"?
Xerozylum: ready to get pwned?
RagnarokWhat do you mean, pure development?
smartgirlby color I meant "rating"
ByronCI feel like I've really learned a lot about the company and positions, although I'm still a little curious about the corporate culture, as it were.
citigroup1quant is the wall street term for 'math' propeller heads building the math models that run trading businesses.
kray42Are you interested in "experienced" coders.
citigroup2Quant means more mathematical research as appsoed to programming.
theMadhouseWhen would you consider that someone is too old to get one of the open positions?
doctor_darkcitigroup1: what would be the average startup salary you pay to a new College Graduate hire ?
jdcarrecho doctor_dark
czartolkienfan: yes but I can probably estimate the likelyhood that I would land a job with citi based on the ratings of the coders they have rejected
citigroup1we care very little about experience, age, or anything other than ability and desire to build really cool things
RedSpectraHmm, guess I'm outa luck =)
RedSpectraokay, I'm not outta luck then!
entaroadunwhat about academic background?
citigroup3we're not going to talk about specific salary figures. But we have never had anyone reject us for money. We are very competitive and then some
ByronCI can do anything I put my focus to; it's just a matter of getting my foot in the door.
doctor_darkcitigroup3: thanks
tolkienfanYeah, thanks guys!
ByronCAnd not having it squashed by the impact.;-)
citigroup2One of my best developers did not finish college; that said a degree from a good school means is often an indicator that a person is smart.
jdcarrcitigroup3: alright...not discussing your salaries then...but just in general, what should I ask for, salary wise?
citigroup1you would not necessarily guess what we look for... desire and drive is key. there are also positions in groups like QA, support and other groups that can be a great way to get in the door.
revtekniquesvery informative chat session!
citigroup1apply and be open about what you are looking for.
ZiaRahmancitigroup3: i disagree with you. I work for Citigroup. It's not the same in every part of Citi.
Ariclejdcarr: There's really no way to answer a question like that.
amirshimByronC: Since the teams are so small, you really aren't affected by the company being so big... You really only interact with a relatively small amount of people...
RedSpectraGood luck all...
smartgirlThanks to all citigroups. nice chat
parkerGood luck.
ByronCamirshim: Ahh. Thanks for the answer!
subodhl82ty citi
karthikthanks citigroups. very useful session
ByronCGood chat; now, time for the coding!
doctor_darkcitigroup3: good luck, may your colors rise
mariobrosYeah... GL everyone!
citigroup2yeah, good luck everyone....
citigroup1the group is key. we are a small group. many groups are bad. you have to know the group. in a company our side - there are great groups and bad groups. there is no way to have every group be great in such a big company
ZiaRahmancitigroup3: ty