Key facts
- Two Sigma, an $80 billion quant hedge fund, had 82 interns this past summer.
- A majority of interns completed core projects weeks earlier than past cohorts.
- Two Sigma is increasing its emphasis on judgment and communication skills for interns and new hires.
- The firm has produced over 200 employees from its internship program since 2009.
- Two Sigma extended full-time offers to 85% of interns who had finished school.
Two Sigma, the $80 billion quant hedge fund, is adapting its internship and hiring strategies in response to the increasing capabilities of artificial intelligence. The firm's head of talent acquisition, Evan Anger, noted that the most recent intern class completed their core projects weeks ahead of schedule, allowing them to pursue additional 'stretch goals.' This heightened productivity has led Two Sigma to re-evaluate the skills it prioritizes, placing a greater emphasis on judgment and communication alongside technical expertise.
Anger stated that while understanding the underlying technology remains crucial, the firm is now focusing on how candidates interact with AI and communicate with both human colleagues and technological tools. This shift acknowledges that AI can level the playing field in terms of coding and mathematical skills, making softer skills more critical for entry-level talent. Interviews are becoming more in-depth, focusing less on purely technical abilities and more on these interpersonal and AI-interaction skills.
The hedge fund industry, including Two Sigma, is engaged in a fierce competition for top talent, often vying with frontier AI labs and tech startups. Two Sigma believes its internship structure, which pairs interns one-on-one with managers, provides a realistic view of the firm's day-to-day operations and helps attract individuals seeking challenging problems. The firm aims to be a place where students can envision long-term career growth, contrasting its approach with tech companies whose success might be tied to IPOs.