SUMMER INTERNSHIP AT CITI BANK
1) Brief Introduction
I am Vraj Parikh, Final Year Student of the Department of Mechanical Engineering. I just completed my Summer Internship with Citi.
2) Brief us about the Selection procedure of Citi
Citi unlike other big banks that visit campus isn’t looking for people who have in-depth knowledge about finance. In fact, knowledge about finance is not required at all to be selected for this internship. Out of the 8 interns selected for this program none had a background/experience in finance, so don’t count yourself out just yet. What is imperative to Citi is having good quantitative and analytical skills. The selection process has 4 steps:
Step 1: The Test. The test comprises of about 30 Data Interpretation and quantitative puzzle questions that you need to solve in 45 minutes, followed by a case study, which will test basic probability knowledge and basic analytical skills. Everyone who applies for the internship is allowed to sit for the test.
Step 2 & 3: The Interviews (Case & CV). After the test, the selected candidates have to go through two rounds of interviews, typically one focused on CV and other on a data-focused case. There is no ideal way of preparing for these interviews as these depend a lot on the profile as well as your conversation with the interviewers. Prepare your CV well and keep your mind fresh. The interviewers are very helpful and will guide you in case you stutter sometimes. The case interview is generally pretty in depth and requires you to churn out the maximum actionable information from the interviewer’s guidelines. Take your time, frame your answers/arguments well and you should be fine.
Step 4: HR Interview. Again, there is no straightforward technique to prepare for this. All you can do is have a look at some common HR questions. Asking a lot of questions is key in this round, as well as this internship.
3) How to prepare for them?
Quantitative and Analytical skills are very important to Citi. Practice problems from resources like Heard on the Street and 50 Challenging problems in probability to get your gears grinding. Brushing up your Probability and Statistics notes would be useful as well, and a bit of knowledge on topics like Regression and Data Analytics would be very helpful.
4) Your Project Details
I worked on using Deep Learning models to develop Risk Strategies, and a lot of my work required working with data (Big Data in some cases) and employing different Machine Learning methodologies. The project, though intensive was fun to do.
5) How was the Company Culture out there?
The culture at Citi is great. Don’t expect Extravagant parties like some European banks though! Everybody believes in sharing knowledge and helping each other out. A typical KGPian wouldn’t find anyone at Citi unapproachable/difficult to talk to.
6) According to you who should ideally apply for this intern?
Anyone who’s looking to explore avenues in Data Science, as well as finance, should definitely have this internship program on their list. It is a well-balanced program which gives great insight into data science as well as the banking industry. For people looking for a career in Analytics, this is a great place to be.
7) And what advice will you give to them?
The CDC internship procedure is understandably very important and taxing, physically and emotionally. The key is to not give up and give in. The result of perseverance is always worth it. Keep cool, keep your head down and you’ll eventually achieve whatever you aim for. Aim high, and work towards achieving it. The most important thing to remember is to have fun, and know that CDC is not the only avenue for internships. It might be one of the most direct ones, but there are many more great opportunities lurking ahead. Keep Calm, Be Confident and Best of Luck. In case you need any help don’t hesitate to contact me on popular social media platforms.