I applied through university. The process took 4 weeks. I interviewed at Wolverine Trading (Chicago, IL) in Oct 2012
Interview
Talked very briefly to a representative at MIT's career fair and dropped off resume. Emailed later for a phone interview. First phone interview was resume, probability and brainteasers. Second phone interview was only resume, and then we talked about Wolverine. After that was the on-site interview. Each intern candidate had four interviews (two interviews, one personality, one sitting with a trader on the trading floor) at 40 minutes each. There was also a 15 minute mental math quiz and an hour test over probability, programming, options, and statistics. We were given a tour of the firm and the CBOE trading floor. Afterwards, had dinner at a local restaurant with the firm to celebrate the expiration day of many contracts.
They boasted a high retention and low turnover rate. Employees were friendly and organization seemed flat. I am currently awaiting their offer decision.
Interview questions [1]
Question 1
A king has 1000 bottles of water, exactly one of which is poisoned. Servants die the day after consuming the poison. The king holds a party and has his servants drink the bottles. The next morning, the king finds out which servants are dead. What is the minimum number of servants that the king needs at the party to determine which bottle is poisoned?