Interning in Macro
Hi everyone,
I'm aware of the fact that this topic may have been previously addressed, however, I was hoping to obtain an updated and more complete opinion.
My question is essentially this: how to intern in macro ? More specifically, how can I best prepare myself to "up" my profile (undergrad) and what are the shops that are good/interested in having interns ?
I'd be deeply grateful for any context and advice you can provide, as a student this does really help!
I know this requires a little more detail (particularly for upping my profile) so as short side note on myself: Oxbridge econ where I'm getting top grades, interned in econ academia, BB IB internship planned for this summer (yes, I know this isn't optimal, I was side-tracked by misguided advice and admittedly my lack of direction), multiple Euro languages (not sure this is critical but hey) and some other perhaps less related stuff (ex: leadership ECs etc...). Should precise this is all concerning London/Europe
I can imagine lots of people on this forum will have something to teach, so please, don't hesitate to share advice on bettering not just my profile but also the actual skills/thought process for the job, thank you!
Soros, Tudor, Bluecrest etc have taken interns sporadically but don't do returns afaik.
I've seen people intern in quant macro at the big multimanagers but usually had a PhD
Soros only for equity l/s. I don’t think they even hold any macro PMs anymore but don’t cite me on that. I would ask yourself first what product you want to trade / what type of strategy.
I have heard of the following taking interns: BlueCrest, Brevan, Capula, Graham, Bridgewater, Bracebridge, DE Shaw Oculus, Citadel GFI, Tudor.
pretty certain soros doesn't take L/S interns lol, they run it through DP and its usually macro type
Thank you both for your responses, is this US-oriented ? (only saw DE Shaw recruiting L/S in UK so far)
Is no returns indeed a thing for these firms ?
No return offer is normal as the common unit for a macro PM is 1 PM + 1 Analyst + maybe 1 sub-PM. There's very little a fresh undergrad out of college will meaningfully add to the group unless they have solid coding skills and can automate a ton of data they monitor and build out new ones without too much direction. Most junior hires in discretionary macro come from ~2 year stints in S&T, seeing a lot of rates backgrounds lately. On systematic macro, it's mostly PhD, occasionally a top Masters student; seldom see only undergrad degrees unless they are quant developers coming from another top shop or had spent a couple of years in some data/database-engineering role at a top tech firm. Occasionally an intern does get a return offer, but I would guess fewer than 1 in 7 get one.
Any advice on how to prepare for the selection ? Be it in terms of skills to develop or things that may be good to add to a cv ?
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