$15,000/month finance internship | Top 3 Tips | Interview Questions | D. E. Shaw & Co.

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How to get some of the highest-paid internships at D. E. Shaw & Co., Jane Street, Renaissance Technologies (RenTech), Citadel, Two Sigma, and other hedge funds and financial institutions?
This is the story of how I accidentally ended up working for the world's most prestigious hedge fund - D. E. Shaw & Co., and completed one of the best-paid internships ever. In this video, I will tell you exactly how I got the internship, what interview questions I was asked, and what you need to do in order to get a similar internship.
▬ Follow me for more tips ▬▬▬▬▬▬▬▬▬▬▬▬▬▬
Instagram: / samuel.bosch
LinkedIn: / samuel-bosch
TikTok: / boschsamuel
Check out ‪@NiklasSteenfatt‬'s video about internships for more insights: • 4000 Euro MONATLICH im...
▬ More about D. E. Shaw & Co. ▬▬▬▬▬▬▬▬▬▬▬
D. E. Shaw & Co., L.P. is a multinational investment management firm founded in 1988 by David E. Shaw and based in New York City. The company is known for developing complicated mathematical models and sophisticated computer programs to exploit anomalies in the financial market.
▬ Ready to apply to D. E. Shaw & Co? ▬▬▬▬▬▬▬
Open internship positions: www.deshaw.com/careers/intern...
▬ Other internship opportunities ▬▬▬▬▬▬▬▬▬▬
Jane Street: www.janestreet.com/join-jane-...
Two Sigma: www.twosigma.com/careers/inte...
AQR Capital Management: www.aqr.com/About-Us/Careers#...
Citadel Investment Group: www.citadel.com/careers/open-...
Bridgewater: www.bridgewater.com/working-a...
▬ Note about the salary ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
My employment contract was in British Pounds (GBP), and the aforementioned figure of $15,000 was my average salary throughout the internship. It was calculated by taking the base salary in GBP, adding the relocation bonus for the internship (and dividing it by the total number of months), and then I converted this figure into USD using the exchange rate at the time the contract was signed, which brings the average salary to $14,800 per month. Adjusted for inflation + including all the gifts (iPads, gift cards, ....) and housing that I received, the real salary would be closer to $17,000-$18,000.
▬ Timestamps ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
0:00 - Intro
0:32 - Why I initially applied
1:31 - Interviews
1:57 - Interview Questions
3:07 - The Offer
4:15 - My Internship
6:03 - How I spent my money
6:19 - Key advice to get this internship
7:16 - Money!

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Опубликовано:

17 июл 2024

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Комментарии : 104

@SamuelBoschMIT 2 года назад

Interested in similar internships? Check out the list in the video description 🙂 Also, stay tuned for the next video featuring my dear friend who worked for D. E. Shaw as a Quantitative Analyst!

@mibel8808 2 года назад

Abo im Stream reingehauen, keine Sekunde bereut. Starkes Video.

@SamuelBoschMIT 2 года назад

Danke Mibel - war wirklich lustig spontan in Niklas's live stream zu kommen :)

@patrickmendonca-dj4yx 7 месяцев назад

I am very excited to be applying for this summer. Extremely excited for the opportunity

@NotMe-rn7jm 2 года назад

thanks for video Samuel! extremely valuable! excited for more content

@SamuelBoschMIT 2 года назад

Thank you! 🙂

@alexjbriiones Год назад

Samuel, you are such an interesting person. I love your perspective and internship video. I think I am a little too old to follow in your footsteps, but I will suggest this video to my son.

@SamuelBoschMIT Год назад

Hey Alex, thank you so much for your channel. It’s never too late to do awesome things in life! There are many good paths one can take in life 🙂

@achimmellert8867 2 года назад

Wirklich interessante Themen, die du in deinen Videos ansprichst. Vielen Dank und gerne mehr davon :D

@SamuelBoschMIT 2 года назад

Sehr gerne :) viele in Deutschland wissen nichts von diesen Praktika. Natürlich, dies ist ein sehr extremes Beispiel und auch wirklich eine Ausnahmesituation. Aber, wie auch Niklas in seinem Video erklärt, werden Praktika in vielen Ländern viel viel besser bezahlt also in Deutschland. Es kommt noch ein Zweites Video über D. E. Shaw & Co., also stay tuned :)

@achimmellert8867 2 года назад

@@SamuelBoschMIT Das ist wirklich wahr. Da sind die Unterschiede zu den Verhältnissen hier in Deutschland deutlich. Was wohl die Gründe hierfür sein mögen. Jedoch umso besser, dass man durch Leute wie dich so tolle Einblicke erhält. Bin gespannt auf kommende Videos :)

@SamuelBoschMIT 2 года назад

@@achimmellert8867 Vielen Dank 🙂

@xybrs 8 месяцев назад

100! has 24 zeroes. To arrive at the answer consider this: every zero is actually just a factor of 10 in the number. Every 10 is just 2*5. Also, notice that we'll have way more 2's than 5's so we only need to count the number of 5's. First, there's 20 5s in the factorization as 100/5=20 (0,5,10,15...,100). But notice this isn't all as there are numbers that can have more than 1 power of 5's in them. e.g 25. To count all numbers that have 2 powers of 5's we count the number of factors of 25. 100/25=4. Also, notice we'll only have to add a single 5 for all of these numbers as the other 5 was already counted in the single 5 multiple counting. Finally, we know this is all of the 5's as the next power of 5: 125 is bigger than 100 itself. So, 100 has 24 zeroes

@yoursfithfully047 7 месяцев назад

Love your content dude

@randomperson1048 2 года назад

bro is a beast omg

@SamuelBoschMIT 2 года назад

Hahahaha thanks 😂💪

@suyogmodak3843 Год назад

Man! U got a point!🤝🏻

@frankbosch9480 2 года назад

Again a very interesting video with a good statement in the end😀

@SamuelBoschMIT 2 года назад

Thank you :)

@argynam Год назад

Hey Samuel, thank you for posting this informative video. I was wondering what your resume looked like when you applied for D.E Shaw & Co. I currently go to a non-target university studying accounting and information systems.

@HaydarAlRikabi 7 месяцев назад

Hey Samuel, I am currently switching my career from web development to quantitative development, but I am struggling to know where to start with modelling that you've mentioned in the video. Is it done in Excel, using C++, or through other means? Any resources (RU-vid videos, online courses, books) are appreciated.

@Flo-vl5dd 2 года назад

Thanks a lot for this interesting video! I really appreciate that you've given more background information on the salary in the video description. Seems like trading is still a world of its own - although those 'tech' - hedge funds seem much more progressive (and imho more interesting) than the traditional ones. Has a career in Quantum-ML research always been your first goal or did you also consider other options (outside of academics, or maybe another area of research?)

@SamuelBoschMIT 2 года назад

Thanks for the nice comment Flo. Yes, I try to be really transparent about everything. I know that, for example, in Germany people don't like to talk about salaries. But I think it's important to be open about such things. Indeed, since the late 80-ties, tech-hedge-funds have been really taking over, and what they do is just waaayyy more interesting than traditional investment banking and hedge funds. I got really interested in quantum computing a couple of years ago. I am still very excited about this field, although I realized that I am not a 100% "sciency" person, as I believed before. I am super enthusiastic about startups, and I wanna make this a main focus of this channel. But I do also like to mix in trips and tricks and experiences form my past, as this is surely useful for people. Nobody starts a startup up with absolutely no experience or knowledge in any field, so I wanna help everyone accomplish exactly that :)

@angelikabosch8006 2 года назад

Fascinating!

@SamuelBoschMIT 2 года назад

Thank you :)

@miro_gra2706 2 года назад

Mega cooles Video danke für deinen Content

@SamuelBoschMIT 2 года назад

Vielen Dank Miro :) Sehen wir uns am Sonntag im Live stream? :)

@miro_gra2706 2 года назад

@@SamuelBoschMIT ich werde auf jedenfalls versuchen zu kommen wenn ich es nicht vergesse🙏 freu mich schon

@noomade 9 месяцев назад

For Zeros in 100!, I am curious as to what your thought process was. I don't see how you can get any reasonable estimate with such a small number (100). Then again I am no mathematician. My thinking was 1. Estimate the length (Stirling's Approximation I guess) 2. Estimate trailing zeros (Number of powers of 10 or actually powers of 5 in 100) 3. Assuming that there must necessarily be 2 non Zeros (although I doubt this affects the estimation) 4. Assuming that zeros have equal distributions everywhere else (I think this is just wrong and where my attempt falls apart?) 5. Z = 1/10(# of digits - # of Trailing0s - 2) + # of Trailing0s => 1/10( 9 * # of Trailing0s + # of digits - 2) I get an answer of 37 which is catastrophically bad, given that WA tells me that the answer is 30. Since there are 24 trailing zeros, I got 13 other zeros instead of 6, which is why I think my assumption of 1/10 chance of a zero is an issue.

@anakr4667 2 года назад

I’m super curious about how quant internships compare to trading internships. Any chance you could make a video about that? Great video btw!

@SamuelBoschMIT 2 года назад

That's a great idea, and going to happen already next weekend. I will be talking to my friend Emily, who did a quant internship for D. E. Shaw, and we will go through the differences and our experiences :)

@alusinebarry4387 Год назад

@@SamuelBoschMIT That will be great man,I’m looking forward to it too:)

@finn3807 2 года назад

Nach Niklas Video über Praktika im IT Bereich, hab ich mich immer gefragt ob es sowas auch für Finance gibt. Also sehr gutes Video 👍👍

@SamuelBoschMIT 2 года назад

Hey Finn, yeah this video is in some way a follow up on Niklas’s video - but from a finance perspective :)

@finn3807 2 года назад

@@SamuelBoschMIT the next "copied" but helpful Video idea would be a video about creating the perfect CV👍

@SamuelBoschMIT 2 года назад

Great idea! I will definitely make such a video in the near future :)

@finn3807 2 года назад

@@SamuelBoschMIT very nice, you have won a new supporter from germany :)

@user-wr4yl7tx3w Год назад

do you mean the miscalculation was because lognormal was too unrealistic?

@franzholmeier9449 2 года назад

Very nice content! Does it matter what I study? I do not study physics, but computer science which has also very much to do with math?

@SamuelBoschMIT 2 года назад

Hey Franz, it does matter what you study, but computer science is surely one of the best options (along with math and physics and related fields). Just make sure to take enough math and algorithms classes - these may be most useful 🙂

@chris-id3nr 2 года назад

Tolles Video, weißt du warum die einen Background-Check machen?

@SamuelBoschMIT 2 года назад

Danke 🙂 Aus Sicherheitsgründen - die haben viele super profitable trading Algorithmen die wirklich viel Geld einbringen, doch mit einem copy-past ganz einfach gestohlen werden könnten. Daher kann ich es eigentlich verstehen. Besonders wenn jemand aus einem eher unbekannten Land wie Kroatien eingestellt wird :)

@DerklugePlayer Год назад

I would be curious how much time you had for these different questions? For example for the question of how many 0s are in "100!"?

@SamuelBoschMIT Год назад

It’s in an interview so you kinda have to do it live and talk your thoughts process out loud as you do it

@ShubhamSinghYoutube Год назад

I would like to work in the same position, can you help me getting the Internship?

@ShubhamSinghYoutube Год назад

I would like to work in the same position, can you help me getting the Internship by referring and mentoring me?

@AbdulMalik-uz5ok 2 года назад

I love this guy

@SamuelBoschMIT 2 года назад

Thank you 🙂

@AbdulMalik-uz5ok 2 года назад

@@SamuelBoschMIT Omg you actually replied thank you. I am a first year mechanical engr student and I’m looking to get my masters and probably MBA in the US immediately after my graduation. I want to start preparing now and hopefully after 5-6 years I’ll get into MIT or Harvard for masters in engr,and you’ve been really helpful thank you

@ningyawang6503 2 года назад

Could you please provide some advice about how to practice to have better mathematics intuition?

@SamuelBoschMIT 2 года назад

I am actively considering to make a video about problem solving strategies - inspired by Richard Feynman's book. Would you find that interesting?

@unbekanntergooglenutzer1156 Год назад

@@SamuelBoschMIT yesss

@itsdivertido9020 2 года назад

Can you make a video on how you study for math? Some tips and tricks etc to make maths more interesting.

@SamuelBoschMIT 2 года назад

Hmmmm I could make a video on mathematical logic or something like that. I’ll have to think about it for a while, to see if I have enough useful ideas for a video :)

@jshsheshshs2120 2 года назад

nice video Do u have any sources to learn log normal distribution? blessings

@SamuelBoschMIT 2 года назад

Thank you! Honestly, I learned this just from Wikipedia and Investopedia. It's not really rocket science, so all you've gotta do is understand how it works, and how it is different from the normal distribution. It is a bit more complicated that the normal distribution as the mean and median don't match. For example, more than 50% of all people are below-average intelligent. Sounds like a contradiction, but it is actually true as the IQ distribution is close to a log-normal distribution (because IQ cannot be negative), so the mean (or average) is not the same as the 50%-tile (which is the median). What I would really recommend you to do is to run some Monte-Carlo simulations with the log normal distribution. It's basically a long for-loop, taking random drawings from the log normal distribution. This is how most financial simulations are done. Investopedia has simple explanation for all of the finance stuff: www.investopedia.com/articles/07/montecarlo.asp But in the end of the day, doing a lot of practice with probability problems is the most important part. Once you understand these basic concepts, you will also not struggle running small simulations. I hope this helps :) You're welcome to join my live stream next Sunday, and ask me more questions :)

@gangstaflower2262 2 года назад

Nice vid

@SamuelBoschMIT 2 года назад

Thank you :)

@Vincent-ou4bq 2 года назад

Very interesting video and channel! As a Masters student in finance (and hopefully PhD student soon), I would be interested to what degree knowledge of high level finance concepts, such as asset pricing models, was required.

@SamuelBoschMIT 2 года назад

Thank you for the nice comment. I really appreciate it 🙂 In my case, my knowledge about finance was precisely zero. Their idea is that they get people who are good with numbers and simulations (remember, math is the same regardless of the field you work in), and then they spent the summer teaching me everything I needed to know about finance itself. It was mostly just terminology. But in your case, you would probably aim directly at a higher position, so knowing more about finance is definitely a very very good basis. Especially if you already know that that's what you want to do, studying finance is the most direct path to a successful career in the field itself.

@Vincent-ou4bq 2 года назад

@@SamuelBoschMIT Super interesting to know. I suppose that is also due to the technical nature of your task (derivatives pricing). Looking forward to the livestream next week.

@SamuelBoschMIT 2 года назад

See you on Sunday 😁

@konrad6697 2 года назад

How should a perfect cv or internship application for those companies look like?

@SamuelBoschMIT 2 года назад

Great questions! I know Niklas already made a video about CVs, so I definitely recommend checking this out because it is great. Nevertheless, as someone who hired many people for my own startup, I will also make a video at some point about CVs and interviews

@konrad6697 2 года назад

@@SamuelBoschMIT thanks for answering the question and the nice content and the input from you're videos🙂

@grassystars 9 месяцев назад

@@SamuelBoschMIT whens that video coming out comrade? 😂

@leonhxrds5884 2 года назад

Super Video :) 100! sollte 24 Nullen am Ende haben, weil 24 mal die 5 fünf (und mehr als 24 mal die 2) in der Primfaktorzerlegung vorkommt, oder?

@SamuelBoschMIT 2 года назад

Stimmt genau Leonhxrd :)

@itsworkinprogress 2 года назад

Okay, auf die Nullen am Ende bin ich auch gekommen aber ob davor noch welche sind: Keine Ahnung. :) Meine Überlegungen waren dank mangelnder Kenntnisse in Zahlentheorie relativ pragmatisch. Zwei Nullen entstehen durch die Multiplikation mit 100 und jeweils je zwei weitere Nullen durch ((20x5)x(4x25)x(2x50)) und eine durch das x10 = 9 Nullen. Von den weiteren Zahlen sind (30,40,60,70,80,90) jeweils durch 10 teilbar d.h. min. 6 weitere Nullen d.h. 15 Nullen. 8 weitere Zahlen sind durch 5 teilbar und da es min. genauso viele Zahlen gibt, die durch zwei teilbar sind, kann man sie in *5 und *2 Terme abspalten d.h. ergo x10 d.h. weitere 8 Nullen = 23 Nullen. Eine der Zahlen (75) ist enthält sogar 5^2 d.h. eine weitere Abspaltung ist möglich = 24 Nullen.

@SamuelBoschMIT 2 года назад

@@itsworkinprogress Ja, ja, hätte ich anders sagen sollen. Die Frage war eigentlich wie viele Nullen am Ende sind :)

@itsworkinprogress 2 года назад

@@SamuelBoschMIT Das beruhigt mich irgendwie. :)

@SamuelBoschMIT 2 года назад

Hhahhha jaaa, sonst hätte ich auch keine Ahnung 😂

@asfaafs-lg1wj 2 месяца назад

Do they really ask for your SAT scores? Did they ask you for the SAT scores?

@math3274 Год назад

How did you CV looked like? I would realy apreciate If you can share any info on that

@GymSlave Месяц назад

It's on linkedin

@niikurasu2855 2 года назад

2:45 do you mean zeros at the end of the number or zeros total? I could only solve the amount at the end :/

@SamuelBoschMIT 2 года назад

Yes, at the end of the number- good point 🙂

@francescodonato6590 Год назад

Sorry, but how would you do that?

@noomade 9 месяцев назад

@@francescodonato6590 Zeros at the end of the number are created for each factor of 10. 10s are created by 5 * 2. For example in 1 * 2 * 3 * 4 * 5, you get a zero at the end because of the (2 and the 5) So you want to look for pairs of factor 2 and 5. However, you can observe that there are always more factors of 2 than there are 5s (1 * 2 * 3 * 4 * 5 = 1 * 2 * 3 * 2 * 2 * 5) so we actually only need to worry about counting factors of 5. So how many 5s are there? well we can divide by 5 BUT we most also remember that numbers such as 25 and 125 are 5 * 5 and 5 * 5 * 5 respectively. So for each power of 5 there is an extra factor of 5. So number of trailing zeros = floor(100 / 5) + floor(100 / 25) + floor(100/125) ... etc. everything after the first two sums is zero. #traililng zeros = 20 + 4 = 24

@yours-truely-sir 2 месяца назад

hello, I was looking at the deshaw website, but I noticed that there are no internships in London. Am I missing something

@SamuelBoschMIT 2 месяца назад

Back then, they used to have 2 interns. No idea what they’re up to now. It’s probably too late to apply for the summer

@KimMorgan-hc3rk Год назад

Awesome, concise and practical video;curious about Kenya as a referral point; here the political system rarely,if ever,innovate anything.The politicians merely steal and the donate to the public, churches etc! Poverty, corruption endemic...

@Qai_317 7 месяцев назад

Do all financial organizations do a background check?

@SamuelBoschMIT 7 месяцев назад

I would hope so :)

@FenerocityGaming Год назад

Hey what did you study in Zagreb?

@SamuelBoschMIT Год назад

I went to MIOC high school, and then studied for while in the physics department of Uni Zagreb 🙂

@mengmai5499 Год назад

Oh my god, who designed this? It looks like a brothel.

@SyedZahedi Год назад

24 for the question

@dodziraynard 4 месяца назад

These are just the leading zeroes?? Shouldn't the total zeros be 30?

@SB379 2 года назад

15k pro Monat und einen kompletten background check für jemanden, der eigentlich gar nicht dort arbeiten will und sich nur "just for fun" beworben hat. Die müssen wirklich verzweifelt auf der Suche nach guten Leuten sein.

@SamuelBoschMIT 2 года назад

Etwas verrückt ist es, aber immerhin habe ich mich wirklich wie ein Teil des Teams gefühlt :)

@pallaviganguly90 2 месяца назад

I LOVE YOU 💋💋💋💋

@supremerental9628 2 года назад

@SamuelBoschMIT 2 года назад

How did you get this number? 🙂

@abhiroopreddyt2094 Месяц назад

11 for tens Then 2*5 ten time 11+10=21

@hrushikeshgouda4965 Год назад

6 zeroes

@noomade 9 месяцев назад

6 in the middle, 24 at the end

@RobinRobin-wg4xy Год назад

100! Has 24 zero’s.

@SamuelBoschMIT Год назад

Correct! 🙂

@noomade 9 месяцев назад

It has 24 trailing zeros but it has 30 zeros in total. The hard part is estimating the zeros in the middle. Sam, I posted a question about this above.