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Quantitative Researcher

DRW · Chicago, IL · $250,000–$300,000 a year · Campus Quantitative Research

Posted Sep 14, 2026 · We last checked this listing on Oct 6, 2026

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Likely interview questions for this role

Written from this job description, not a generic list. Each one notes what the interviewer is really checking.

About your past

Tell me about research you did that didn't work out. How did you decide to stop?

What they are checking: Ability to cut losses on ideas instead of forcing results.

How do you balance independent exploration with contributing to the team's shared research?

What they are checking: Fit with a team that encourages original work but also collaborates on strategy development.

What would you do

How would you work with a software developer to take your research into production?

What they are checking: Collaboration and clear handoff, which the posting lists as a core duty.

Your strategy works well in backtest but loses money in its first month live. What do you look at?

What they are checking: Methodical diagnosis of live versus backtest gaps, including data, costs and regime change.

About the work

The posting says you don't need prior market experience. Walk me through how you'd approach extracting a predictive signal from a dataset you've never seen.

What they are checking: A sound, general research process that does not depend on finance background.

How do you guard against overfitting when you test many ideas on the same historical data?

What they are checking: Understanding of multiple testing and validation discipline, which separates real signals from noise.

When would you choose a simple linear model over a more complex machine learning method?

What they are checking: Judgment about model complexity on noisy data with low signal-to-noise ratios.

You roll a die repeatedly and stop when you see a six. What's the expected sum of all rolls?

What they are checking: Clear probability reasoning, a standard way to test mathematical thinking.

How would you think about transaction costs when evaluating a strategy?

What they are checking: Awareness that execution and costs often erase paper profits, connecting to the posting's execution duties.

Explain a statistical concept you think is often misused, and how it's misused.

What they are checking: Depth of statistical understanding and the ability to explain it clearly.

Practice this interview out loud.

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The full job description

As published by DRW.

Our formula for success is to hire exceptional people, encourage their ideas and reward their results. As a Quantitative Researcher , you will develop mathematical models using advanced statistical learning methods to build automated trading strategies across multiple asset classes. Our research team collaborates on idea generation and strategy development, while encouraging independent exploration and original approaches. You will have access to clean data integrated with compute resources and the support of experienced researchers, traders and dedicated software developers. You will conduct quantitative analysis of market data to uncover relationships and identify historical trends. We do not require familiarity with or prior experience in financial markets for this role. We will give you the training you need to be successful. How you will make an impact • Extract predictive signals from financial data through both traditional statistical analysis methods and cutting edge machine learning techniques • Assist software developers to translate research strategies into production software • Optimize the order execution and risk management of our trading system • Create robust solutions to problems presented in the trading environment • Formulate and apply mathematical modeling techniques to enhance existing trading strategies and perform innovative new research with the goal of identifying and capturing trading opportunities • Automate human-decision based trading strategies; prototype algorithmic trades from trading ideas You will be right at home if you have… • A degree in a technical discipline with a focus on statistics, machine learning, signal processing, optimization and control graduating between December 2026 and August 2027 (Bachelor’s, Master’s, PhD) • A curiosity for model development and experience handling large data sets • Expertise in programming using Python, R, MATLAB, or C++ for conducting research • Can advocate for your beliefs in a concise and effective way with the team • Significant hands-on experience applying machine learning algorithms to real world problems • Strong problem-solving and statistics skills • The proactive ability to take the lead on assignments and deliver practical research results in a timely manner DRW is a diversified trading firm with over 3 decades of experience bringing sophisticated technology and exceptional people together to operate in markets around the world.  We value autonomy and the ability to quickly pivot to capture opportunities, so we operate using our own capital and trading at our own risk.  Headquartered in Chicago with offices throughout the U.S., Canada, Europe, and Asia, we trade a variety of asset classes including Fixed Income, ETFs, Equities, FX, Commodities and Energy across all major global markets. We have also leveraged our expertise and technology to expand into three non-traditional strategies: real estate, venture capital and cryptoassets.  We operate with respect, curiosity and open minds. The people who thrive here share our belief that it’s not just what we do that matters–it's how we do it.  DRW is a place of high expectations, integrity, innovation and a willingness to challenge consensus.     The annual base salary range for this position is $250,000 to $300,000 depending on the candidate’s experience, qualifications, and relevant skill set. The position is also eligible for an annual discretionary bonus.  In addition, DRW offers a comprehensive suite of employee benefits including group medical, pharmacy, dental and vision insurance, 401k (with discretionary employer match), short and long-term disability, life and AD&D insurance, health savings accounts, and flexible spending accounts. For more information about DRW's processing activities and our use of job applicants' data, please view our Privacy Notice at https://drw.com/privacy-notice . California residents, please review the California Privacy Notice for information about certain legal rights at  https://drw.com/california-privacy-notice . #LI-SB1

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