Applying for the DRW Quantitative Trading Analyst internship in Chicago for summer 2028? DRW only needs your resume to start, so check it below, then read when roles open, what the form asks and the timed technical challenge that comes next.
Key facts
- When it opens: DRW's summer 2027 intern postings in Chicago and New York went up on Jul 13, 2026, and technical challenges were going out by mid-July, so expect summer 2028 roles around mid-July 2027.2,3,14
- Deadline: DRW reviews applications on a rolling basis and asks you to apply early, once roles are posted.4
- Documents: DRW says only your most recent resume is needed to be considered. The trading form also asks for your latest transcript, a ranked list of locations and any offer deadlines; a cover letter is optional.4,2
- Who it is for: Bachelor's, master's or PhD students in math, economics, physics, statistics, computer science or engineering, with advanced quantitative and problem-solving skills and proficient Python. The summer 2027 posting asked for graduation between December 2027 and June 2028.1
- Pay and length: The summer 2027 trading analyst posting gives an annual base salary of $250,000 for a 10-week internship, with furnished housing near the office. The research intern posting gives $250,000 to $300,000, and the software developer intern $225,000.1,3,9
- Next step: The first step after applying is a technical challenge you take at home under timed conditions: probability and logic problems for trader and researcher roles, a Codility coding test for software developers. The invitation email gives the length.4,5
DRW programs on the tracker
Live from the Intervyo tracker, so the dates update as DRW posts them.
- 2028 Summer Analyst Program
- Dates not announced yet
- 2028 Full-Time Analyst Program
- Dates not announced yet
Trading analyst interns work on a small team, on projects advised by a trader, take an options course taught by an experienced trader and a technology immersion course, and present their results to senior leadership at the end of the 10 weeks.1
Check your resume before you apply
Check your resume
Read against the Quantitative Trading Analyst Intern role at DRW, Trading, the way the first screen reads it.
- A score and a verdict
- An ATS check
- Your lines rewritten
What the DRW online application looks like
Find the posting
DRW lists its intern roles on its careers site: Quantitative Trading Analyst Intern (Chicago), Quantitative Research Intern (Chicago and New York) and Software Developer Intern (Chicago). For summer 2027 they went up on Jul 13, 2026, and DRW reviews applications on a rolling basis, so apply soon after they post.1,2,3,4,9
Fill in the form
Upload your resume and your most recent transcript, say how you heard about DRW, confirm your work authorization and any sponsorship need, rank the locations you would accept (Austin, Chicago, Greenwich, Houston, New York), confirm when you finish school, and list any offer deadlines. A cover letter, LinkedIn profile and website are optional.2
Get the resume right
DRW asks for one page, in PDF, named "Last Name, First Name_Resume", with your expected graduation month and year, any plans for further study, and an email and phone number you check. Use clear section headings, reverse chronological order, one-line bullets with numbers, and the technical skills the role uses.6
Be ready to explain every line
DRW uses your resume as its reference through the whole process and draws interview questions straight from it, and the Zoom interview asks about your work experience, classes and research in detail. List only what you can talk about at length.6,7
After you submit
The next step is the technical challenge, sent by email. It has come a few days to two weeks after applying; for summer 2027, one arrived a week after. Take it somewhere quiet with a strong connection and a charger, and set aside the full time the email gives.5,10,14
What the form asks
- Resume Required
- Your resume, uploaded or pasted.
- Transcript Required
- A copy of your most recent transcript from your highest degree level.
- Locations Required
- Rank Austin, Chicago, Greenwich, Houston and New York from most to least preferred, leaving out any you would not accept.
- Timing Required
- When you will finish school, and whether you have offer deadlines elsewhere, with the firm and date of each.
- Work authorization Required
- Whether you can work in the United States, and whether you need sponsorship now or later.
- Cover letter Optional
- Not needed: DRW asks only for your resume.
Read from the summer 2027 Chicago Quantitative Trading Analyst Intern posting's application questions; the research intern form asks the same. Check each field when you open it.2,4
DRW quant trading resume checklist
- One page, saved as a PDF named "Last Name, First Name_Resume".
- Expected graduation month and year, and any further study planned.
- Clear section headings in reverse chronological order.
- Every role with its title and dates.
- One-line bullets, each with a number.
- Python and the other languages you would use in an interview.
- Nothing you could not explain at length to a trader.
What to put on it
DRW reads your resume to see where you would fit, and its interviewers draw questions from it. The trading posting asks for advanced quantitative and problem-solving skills, proficient Python and clear communication. Use structured sections in reverse chronological order. The examples below are Intervyo rewrites of common resume lines, not questions from the form.1,6
- Education: School, degree, majors, expected graduation month and year, GPA, any further study planned, and math, statistics or computer science coursework.
- Experience: Each role with its title and dates, in one-line bullets with numbers.
- Projects and competitions: Data analysis, trading or coding projects with results, and math or trading competitions with your placing.
- Skills: The languages and tools the role uses, Python first for trading.
Example questions and how to answer them
Project bullet"Rewrite this project line: "Built a trading bot in Python.""6,1,16
- 1Say what the strategy tried to capture.
- 2Name the data, the tools and the test you ran.
- 3Give the result in numbers, including what did not work.
- 4Keep it to one line.
Tip: DRW asks for bullets that quantify your experience with numbers and percentages, and expects you to talk through every line in an interview.
Example answer, written by Intervyo (not a real candidate)
Back-tested a mean-reversion strategy on 5 years of daily S&P 500 sector ETF data in Python (pandas, NumPy); Sharpe 0.9 before costs, 0.3 after a 2 bp cost, so I added a turnover limit that kept 0.6.
Education line"Rewrite this education line: "UIUC, Math & CS, 3.8""6,2
- 1University and location on the first line.
- 2Degree and majors with the expected graduation month and year.
- 3GPA with its scale, and any further study you plan.
- 4A line of relevant coursework.
Tip: DRW asks for your expected graduation month and year on the resume, and whether you plan further study, with its date. The form asks when you finish school too.
Example answer, written by Intervyo (not a real candidate)
University of Illinois Urbana-Champaign, Urbana, IL B.S. in Mathematics and Computer Science, expected May 2029. GPA: 3.82/4.00 Relevant coursework: Probability Theory, Statistics, Linear Algebra, Data Structures
Experience line"Rewrite this experience line: "Intern at a fintech startup last summer.""6
- 1Give the job title and the months, as DRW asks.
- 2Start each bullet with a different action verb.
- 3Put a number in each bullet.
Tip: DRW asks for both the job title and the length of each experience, written like "Software Developer Intern, June 2021 - August 2021".
Example answer, written by Intervyo (not a real candidate)
Data Analyst Intern, Ledgerline (fintech startup), June 2026 - August 2026 Automated a daily reconciliation report in Python, cutting it from 3 hours to 10 minutes. Modeled card-payment fraud rates by merchant type; flagged 4 categories later given extra checks.
Skills line"Rewrite this skills line: "Skills: Microsoft Office, coding, teamwork.""6,1
- 1List the languages and tools the role uses.
- 2Put Python first for trading, with its libraries.
- 3Cut soft skills; show them in your bullets instead.
Tip: DRW suggests listing the technical skills that apply to the role, such as "Languages: C++, Java, Python", and the trading posting asks for proficient Python.
Example answer, written by Intervyo (not a real candidate)
Languages: Python (pandas, NumPy, scikit-learn), C++, SQL Tools: Git, Jupyter, LaTeX
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How long to hear back after the online application
DRW sends the technical challenge by email after reading your resume; it has come a few days to two weeks after applying. Reply to a phone interview request quickly with at least three weekday times: it moves you through the process faster.5,4,14,10,7
Jul 2026 (summer 2027)
Quant researcher, Chicago
The test was 6 probability and statistics problems, proctored by software that watched from more than one camera angle and locked the candidate out on leaving the frame.12
Jul 2026 (summer 2027)
Quant trading intern, New York
Mostly straightforward probability questions, including making a market on the number of heads in 100 coin flips; the superday had group mock trading, and the process took one to two months.11
Sep 2026 (summer 2027)
Quantitative research intern, New York
The test arrived a week after applying: 6 probability puzzles on Markov chains, Bayes' theorem, random walks, combinatorics and distributions.10
For a trading analyst role, DRW says afternoons suit its teams for the phone interview, as some markets have closed. Interviews run on weekdays only.7
Best guessExpect the technical challenge within two weeks of applying in July or August, and a Zoom interview request within a few weeks of a strong result.
What happens after the online application
Online applicationYou are here
This page. A resume and your latest transcript; no cover letter needed.2,4
Technical challenge
Timed, at home, with the length in the email. Traders and researchers get 6 probability and statistics problems, such as Markov chains, Bayes' theorem, random walks and distributions; expect typed answers, about 45 minutes and camera proctoring. Software developers sit a Codility test graded on correctness and performance.4,5,10,12,13,14,15
Zoom interview
About 45 minutes with a developer, quantitative trader or researcher: technical and behavioral questions, detailed questions on your resume, and mental math worth brushing up on first.4,7
Final round, two days
In person. Day one starts in the afternoon with introductions and a technical challenge; day two is a full day of technical and behavioral interviews. For traders this has included a Python coding challenge and a trading simulation, so be ready to talk about the markets. Business casual is fine.4,8,11,14
Offer
An intern offer has followed about 10 days after the final round.14
FAQ
When does the DRW 2028 internship open?
Going by the last cycle, around mid-July 2027: DRW's summer 2027 intern postings in Chicago and New York went up on Jul 13, 2026. DRW reviews applications on a rolling basis and asks you to apply early.2,3,4
Does DRW need a cover letter?
No. DRW says its application only requires your most recent resume. The form keeps an optional cover letter and asks for a copy of your latest transcript.4,2
What is the DRW online test?
A timed technical challenge you take at home after applying. For trader and researcher roles it is quantitative, focused on probability and logic: 6 problems on topics such as Markov chains, Bayes' theorem, random walks and distributions. Expect typed answers, about 45 minutes and camera proctoring; the invitation gives the exact length. Software developers take a Codility coding test.4,5,10,12,13,15
How much do DRW interns make?
The summer 2027 postings give annual base salaries of $250,000 for the Quantitative Trading Analyst Intern, $250,000 to $300,000 for the Quantitative Research Intern and $225,000 for the Software Developer Intern, with furnished housing near the office.1,3,9
Where are DRW internships based?
The trading analyst internship is posted in Chicago, with intern events across Chicago, Greenwich and New York; research interns are in Chicago or New York. The form asks you to rank Austin, Chicago, Greenwich, Houston and New York, leaving out any you would not accept.1,3,2
What happens in the DRW final round?
Two days in person. Day one starts in the afternoon with introductions and a technical challenge, and day two is a full day of technical and behavioral interviews. Trading candidates have had a Python coding challenge and a trading simulation, and should be ready to talk about the markets.4,8,14
Online application at other firms
Sources
Firm pages first, then dated candidate reports. Last checked Nov 12, 2026.
- 1DRW: Quantitative Trading Analyst Intern (Chicago)
- 2DRW (Greenhouse job board): Job board feed, Quantitative Trading Analyst Intern, Chicago (first published Jul 13, 2026)
- 3DRW: Quantitative Research Intern (Chicago, New York City)
- 4DRW: Interns
- 5DRW: Preparing for our technical challenge
- 6DRW: Crafting the Perfect Resume
- 7DRW: Acing your phone interview
- 8DRW: You're almost there: final round
- 9DRW: Software Developer Intern (Chicago)
- 10Candidate report on a public forum: Quantitative Research Intern interview, New York (Sep 2026)
- 11Candidate report on a public forum: Quant Trading Intern interview, New York (Jul 2026)
- 12Candidate report on a public forum: Quant Researcher interview, Chicago (Jul 2026)
- 13Candidate report on a public forum: Quant Intern interview, trading (Oct 2025)
- 14Quantt: DRW Interview: Process, OA and Questions (2026) · prep site
- 15QuantVault: DRW Online Assessment: Format, Questions & Free Practice · prep site
- 16OpenQuant: Writing the Perfect Quant Resume · prep site
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