The Five Rings 2028 internship process runs in four stages, from the online application to the final round. This page covers each stage, when it opens, who can apply and what it pays, with every fact linked to its source.
The Five Rings process, stage by stage
Online application
A resume and your GPA band; no cover letter.1
Application guideFive Rings Quantitative Trader intern 2028 application guideOnline math test
Expect about 17 questions in 17 minutes on HackerRank, one at a time on a countdown: mental arithmetic, estimates such as square roots and logs, counting and probability, typed to the nearest whole number or a few decimals, with no calculator and no coding.6,7,8
Phone screens
Expect one to three calls of 45 to 60 minutes. The first opens with a short behavioral chat and about 10 rapid math questions at about 30 seconds each; later calls build probability and game theory questions through follow-ups.6,7,9
Final round
Expect a full day, usually in New York, of four to six sessions, often built around a live game against the interviewer, with later conversations on why trading and why Five Rings.6,9
Offer
Expect a fast decision, often within days of the final round. List any competing offers and deadlines on the form.1,9
Key facts
- When it opens: Five Rings' summer 2027 intern postings were first published on Jul 14, 2026, and its careers page lists them from Sep 1, 2026, so expect summer 2028 roles from mid-July 2027.1,2
- Who it is for: Quantitatively focused, detail-oriented quick learners with a quantitative major and basic software development skills. The summer 2027 posting asked for graduation in winter 2027 or spring or summer 2028, and students outside the US can apply.3,4
- Documents: A resume, your school's grading scale and your overall GPA band are required; the software form also asks for your latest transcript. The form has no cover letter upload.1,5
- Pay and length: The summer 2027 posting gives a $300,000 annual base salary, plus a sign-on bonus and corporate housing, for a 9-week internship in New York from the beginning of June to the beginning of August.3
Five Rings programs on the tracker
Live from the Intervyo tracker, so the dates update as Five Rings posts them.
- 2028 Summer Analyst Program
- Dates not announced yet
- 2028 Sophomore Insight Program
- Dates not announced yet
- 2028 Full-Time Analyst Program
- Dates not announced yet
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Other firms
Sources
Firm pages first, then the other sources the stage guides cite. Last checked Nov 12, 2026.
- 1Five Rings (Greenhouse job board): Job board feed, Summer Intern 2027 Quantitative Trader, New York (first published Jul 14, 2026)
- 2Five Rings: Job Search
- 3Five Rings: Summer Intern 2027 - Quantitative Trader (New York)
- 4Five Rings: Positions
- 5Five Rings: Summer Intern 2027 - Software Developer (New York)
- 6EverythingQuant: Five Rings Interview Guide · prep site
- 7QuantVault: Five Rings Online Assessment: Format, Questions & Free Practice · prep site
- 8Aptitude Test Prep: Five Rings Trader Online Assessment: Guide + Samples (2026) · prep site
- 9Quantt: Five Rings Interview: Process Guide 2026 (Aug 2026) · prep site
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