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Internship Mathematical Modeling Jobs in Chicago, IL

TransMarket Group

Junior Algorithmic Trader

Chicago, IL · On-site

$69K - $89K/yr

Project or internship experience in data analysis, quantitative modeling and/or machine learning * Passion for math and software applied to markets and trading * Strong understanding of computing ...

TransMarket Group

Junior Algorithmic Trader

Chicago, IL · On-site

$69K - $89K/yr

Project or internship experience in data analysis, quantitative modeling and/or machine learning * Passion for math and software applied to markets and trading * Strong understanding of computing ...

DRW

Quantitative Research Intern

Chicago, IL · On-site

$250K - $300K/yr

Formulate and apply mathematical modeling, quantitative methods and machine learning techniques to ... internship * Meaningful projects: Each project, advised by a trader, promotes a comprehensive ...

Milliman

Actuarial Intern Spring 2027 (CMH Health)

Chicago, IL · On-site

  • Medical

  • Dental

  • Life

  • Retirement

  • PTO

Exciting Spring 2027 internship opportunities! Join our CMH Health Practice! Milliman's CMH Health ... Candidates should be talented and hard-working individuals with strong math and analytical skills.

Milliman

Actuarial Intern Spring 2027 (CMH Health)

Chicago, IL · On-site

  • Medical

  • Dental

  • Life

  • Retirement

  • PTO

Exciting Spring 2027 internship opportunities! Join our CMH Health Practice! Milliman's CMH Health ... Candidates should be talented and hard-working individuals with strong math and analytical skills.

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All JobsMathematical Modeling JobsInternship Mathematical Modeling JobsInternship Mathematical Modeling Jobs in Chicago, IL

Internship Mathematical Modeling information

What types of projects can I expect to work on during an internship in mathematical modeling?

As an intern in mathematical modeling, you will likely work on projects that involve creating and analyzing mathematical representations of real-world systems. These can include tasks such as developing predictive models for business processes, optimizing logistics, or simulating scientific phenomena. You'll typically collaborate with data scientists, engineers, and subject matter experts to gather requirements, validate your models, and present findings. This hands-on experience helps you build both your technical and teamwork skills, preparing you for more advanced roles in analytics and modeling.

What are the key skills and qualifications needed to thrive as an internship in mathematical modeling, and why are they important?

To thrive in a Mathematical Modeling internship, you need solid foundations in mathematics, statistics, and programming, usually supported by coursework in applied mathematics or related fields. Familiarity with technical tools like MATLAB, Python, R, and simulation software is often expected. Strong analytical thinking, problem-solving abilities, and effective communication skills help interns stand out when working with complex data and interdisciplinary teams. These competencies are crucial for accurately developing models, interpreting results, and conveying findings to diverse stakeholders.

What is the difference between Internship Mathematical Modeling vs Data Analyst Internship?

AspectInternship Mathematical ModelingData Analyst Internship
Required CredentialsTypically pursuing or recent graduate in mathematics, statistics, or related fieldsOften pursuing or recent graduate in statistics, data science, or related fields
Work EnvironmentResearch-focused, project-based, often in academia or R&D departmentsBusiness or corporate settings, analyzing data to inform decisions
Employer & Industry UsageUsed in industries like finance, engineering, and tech for modeling complex systemsCommon in marketing, finance, healthcare, and tech for data analysis

Internship Mathematical Modeling and Data Analyst Internships both involve working with data, but modeling internships focus on developing mathematical representations of systems, while data analysis internships emphasize interpreting and visualizing data for decision-making. The choice depends on your interest in theoretical modeling versus practical data insights.

What is an internship in mathematical modeling?

An internship in mathematical modeling is a temporary, practical work experience where students or recent graduates apply mathematical theories and computational techniques to solve real-world problems. Interns typically work with data analysis, simulation, and mathematical software to develop models in fields such as engineering, finance, or science. These internships help participants gain hands-on experience, improve technical skills, and build professional networks in preparation for future careers.

What are the most commonly searched types of Mathematical Modeling jobs in Chicago, IL?

The most popular types of Mathematical Modeling jobs in Chicago, IL are:

Internship Mathematical Modeling jobs near you

Quantitative Development & Strategy Intern, Summer 2027

Akuna Capital

Chicago, IL

$145K/yr

Full-time, Temporary, Internship

Re-posted yesterday

Job description

About Akuna:

Akuna Capital is an innovative trading firm with a strong focus on collaboration, cutting-edge technology, data driven solutions, and automation. We specialize in providing liquidity as an options market-maker - meaning we are committed to providing competitive quotes that we are willing to both buy and sell. To do this successfully, we design and implement our own low latency technologies, trading strategies and mathematical models. 

Our Founding Partners first conceptualized Akuna in their hometown of Sydney. They opened the firm's first office in 2011 in the heart of the derivatives industry and the options capital of the world - Chicago. Today, Akuna is proud to operate from additional offices in Sydney, Shanghai, London, and Singapore. 

What you'll do as a Quantitative Development & Quantitative Strategy Intern at Akuna:

Akuna's Quant team creates trading strategies scientifically by combining its quantitative expertise with sophisticated understanding of derivatives and financial markets. The team is looking to add both Quant Development & Quant Strategy Interns to our team for our 10-week Akunacademy internship program who will make a direct and measurable impact on our trading decisions and performance.

The successful candidate will have a strong programming background, familiarity with mathematical techniques and the fluency to leverage both skills to produce trading solutions and high-performance production code. In these roles you will:

  • Design and develop production code of trading strategies: pricing models, execution logic and performance optimization along with researchers, traders and system engineers
  • Analyze and incorporate market signals in our trading systems
  • Advance existing codebase and propose new solutions and improvements

Requirements for these roles:

  • Pursuing a bachelors, masters, or PhD in a technical field - Engineering, Computer Science, Math, Physics (or related subject)
  • Strong Python programming background
  • Experience in object-oriented programming
  • Exposure to linear algebra and introductory statistics
  • Desire and ability to learn the intricacies of financial markets
  • Must graduate by August 2028
  • GPA of 3.5 or above
  • Legal authorization to work in the U.S. is required on the first day of employment including F-1 students using CPT, OPT or STEM

Qualities that make great candidates:

  • Experience with generic and/or parallel programming
  • Deeper understanding of any of the following fields: Linear Algebra, Numerical Methods, Statistics, Optimization, Signal Processing, Computer Architecture, Machine Learning, Heterogeneous/High Performance computing
  • The ability to react quickly and accurately to rapidly changing market conditions, including the ability to quickly and accurately respond and/or solve math and coding problems are essential functions of the role
  • Exposure to financial markets and trading

**Resumes must be submitted in PDF format. 

In addition to technical skillsets, Akuna values the unique perspectives people can bring to the table to collaboratively solve complex problems and drive Akuna forward. We want everyone to feel empowered to apply. We welcome your application and encourage you to take the first steps toward your future with us!

Please note: By submitting an application for this role, you are indicating this is your top preference and acknowledge you will not be considered for other Quant and/or Tech roles at Akuna this recruiting season. This acknowledgement does not limit applications to Trading roles - in addition to this role, you may apply to any Trader roles of interest. 

In accordance with Illinois Equal Pay Act, the minimum annualized base salary starts at $145,000. Exact compensation offered may vary based on many factors including, but not limited to, the candidate's experience, qualifications, and skill set. The minimum base salary herein was determined in good faith by Akuna Capital LLC.

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