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Machine Learning Intern Jobs in Chicago, IL (NOW HIRING)

DRW

Quantitative Research Intern

Chicago, IL · On-site

$250K - $300K/yr

As a Quantitative Research Intern you will have an opportunity to solve challenging problems ... Formulate and apply mathematical modeling, quantitative methods and machine learning techniques to ...

Optiver

Quantitative Research Intern (PhD)

Chicago, IL · On-site

$80K - $90K/yr

Using statistical models and machine learning to develop trading algorithms. * Leveraging big data ... Available to intern during Summer 2026 * Open to full-time opportunities upon graduation in 2027 or ...

SAP

SAP iXp Intern - AI Engineer

Naperville, IL

Three reasons to intern at SAP * Culture of collaboration: meet with mentors, make new friends ... AI & Machine Learning: Coursework or practical experience with open-source ML/LLM frameworks (e.g ...

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All JobsMachine Learning Intern JobsMachine Learning Intern Jobs in Chicago, IL

Machine Learning Intern information

See Chicago, IL salary details

$26.3K

$43.9K

$90.7K

How much do machine learning intern jobs pay per year?

As of Jul 23, 2026, the average yearly pay for machine learning intern in Chicago, IL is $43,900.00, according to ZipRecruiter salary data. Most workers in this role earn between $33,500.00 and $47,400.00 per year, depending on experience, location, and employer.

What are the key skills and qualifications needed to thrive as a Machine Learning Intern, and why are they important?

To thrive as a Machine Learning Intern, you need a solid understanding of statistics, programming (especially Python), and foundational machine learning concepts, typically supported by coursework or a degree in computer science or a related field. Familiarity with tools such as TensorFlow, PyTorch, scikit-learn, and data analysis libraries, as well as experience with version control systems like Git, is highly valuable. Strong problem-solving skills, curiosity, and effective communication set outstanding candidates apart in this role. These abilities are essential for analyzing data, building models, and collaborating with teams to develop innovative AI solutions.

What does a Machine Learning Intern do?

A Machine Learning Intern assists with developing, testing, and deploying machine learning models under the supervision of experienced data scientists or engineers. Their responsibilities may include data preprocessing, feature engineering, coding algorithms, analyzing results, and assisting with research tasks. Interns often work with programming languages like Python and libraries such as TensorFlow or PyTorch. The internship provides hands-on experience in real-world machine learning projects and helps interns build essential skills for a future career in the field.

What is the difference between Machine Learning Intern vs Data Science Intern?

AspectMachine Learning InternData Science Intern
Required CredentialsTypically pursuing or recent graduate in Computer Science, Data Science, or related fields; knowledge of programming and ML frameworksUsually pursuing or recent graduate in Data Science, Statistics, or related fields; strong analytical and programming skills
Work EnvironmentTech companies, research labs, startups focusing on AI/ML projectsBusiness, finance, healthcare, and tech sectors analyzing data for insights
Employer & Industry UsageUsed in companies developing AI products, research institutions, tech startupsCommon in organizations requiring data analysis, reporting, and decision-making support

While both roles involve working with data and programming, a Machine Learning Intern focuses specifically on developing and implementing machine learning models, whereas a Data Science Intern works more broadly on analyzing data, creating reports, and deriving insights. The roles often overlap, but the Machine Learning Intern role emphasizes algorithm development and model deployment.

What types of projects do Machine Learning Interns typically work on, and how are they supported by the team?

Machine Learning Interns often contribute to real-world projects such as data preprocessing, developing and testing models, or assisting with research for new algorithms. Interns are usually paired with a mentor or work within a small team, receiving guidance during code reviews and regular check-ins. This collaborative environment helps interns gain practical experience, quickly overcome challenges, and integrate feedback, ensuring a steep learning curve and valuable industry exposure.

What Does a Machine Learning Intern Do?

A machine learning intern works in the field of data science. During an internship, you work alongside machine learning engineers who are developing artificial intelligence programs. They do this by writing computer code that allows a software system to run autonomously. Your exact responsibilities depend on the type and level of engineering that the company does. While you likely do not have coding duties, you may help the programmers test or debug their code. You may also work with algorithms and the mathematical aspects of artificial intelligence. A machine learning intern works under the supervision of a lead engineer.

More about Machine Learning Intern jobs
What are the most commonly searched types of Machine Learning jobs in Chicago, IL? The most popular types of Machine Learning jobs in Chicago, IL are:
What are popular job titles related to Machine Learning Intern jobs in Chicago, IL? For Machine Learning Intern jobs in Chicago, IL, the most frequently searched job titles are:
What job categories do people searching Machine Learning Intern jobs in Chicago, IL look for? The top searched job categories for Machine Learning Intern jobs in Chicago, IL are:
What cities near Chicago, IL are hiring for Machine Learning Intern jobs? Cities near Chicago, IL with the most Machine Learning Intern job openings:
Machine Learning Intern jobs near you
Infographic showing various Machine Learning Intern job openings in Chicago, IL as of July 2026, with employment types broken down into 10% Internship, 1% As Needed, 57% Full Time, 29% Part Time, 1% Temporary, and 2% Contract. Highlights an 95% Physical, 2% Hybrid, and 3% Remote job distribution, with an average salary of $43,900 per year, or $21.1 per hour.
Quantitative Research Intern

Quantitative Research Intern

DRW

Chicago, IL • On-site

$250K - $300K/yr

Full-time, Internship

Posted 10 days ago

Job description

Our formula for success is to hire exceptional people, encourage their ideas and reward their results.
As a Quantitative Research Intern you will have an opportunity to solve challenging problems arising in a trading environment while utilizing the latest statistical scientific algorithms, machine learning techniques and derivatives pricing theory. The teams focus on non-latency sensitive investment opportunities and multi-asset class derivatives strategies across geographies. Our teams emphasize cutting-edge innovative scientific research and collaboration, allowing you to gain a deeper understanding of quantitative trading. You will find great minds with diverse backgrounds, who are passionate about cultivating new ideas and exploring ways to bring them to life. You will use the team's custom research infrastructure for simulation, back-testing, and validation of the proposed models. While your days will have you engrossed with complex technology projects, your evenings will be spent exploring the city with organized social events to truly discover what it's like to live and work in Chicago or New York City.
How you will make an impact...
  • Create practical solutions to problems presented in the trading environment on either a systematic equity trading desk or a fixed income options desk
  • Conduct statistical analysis of market data, historical trends, and relationships across multiple asset classes
  • Formulate and apply mathematical modeling, quantitative methods and machine learning techniques to identify and capture trading opportunities
  • Work closely with traders and researchers to build and refine research infrastructure and tools

What you bring to the team...
  • Are pursuing a Bachelor's, Master's or PhD in a technical discipline with a focus on Statistics, Optimization, Machine Learning, Artificial Intelligence, Quantitative Finance or related fields graduating between December 2027 and August 2028
  • Proficiency in Python programming experience using the Python machine learning stack: numpy, pandas, scikit-learn, etc.
  • Proficient programming skills with experience exploring large datasets
  • Strong analytical and problem-solving skills including a solid foundation of statistics knowledge
  • Working knowledge of probability theory, stochastic calculus and numerical algorithms such as finite differences, Monte Carlo simulation, etc.
  • Some exposure to Natural Language Processing and/or High-Performance Computing is a plus
  • Excellent written and verbal communication skills to report research results as well as methodologies
  • Added bonus if you have been published in a top tier journal focusing on Natural Language Processing or High-Performance Computing

What to expect during the internship
  • Meaningful projects: Each project, advised by a trader, promotes a comprehensive learning experience and provides you with real-world work experience.
  • Community: Throughout the summer, we host a variety of educational, social and team-building activities to explore the city, foster friendships and camaraderie.
  • Housing: DRW provides fully furnished apartments located close to the office - making your morning commute as easy as possible.
  • Mentorship: You'll build a professional relationship with an experienced mentor in your field. Mentors and mentees meet to discuss goals, challenges and professional development and explore the city together at our mentor outings.
  • Education: As the trading industry continually evolves, both in terms of new products and transaction methods, the future will present us with unique opportunities and challenges. You'll complete an options course taught by an experienced trader and participate in a technology immersion course to better understand how technology and trading intersect.

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.
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.
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