Wanting to change careers while still in college

Hi there WSO,

Summary of my info:

* Junior at a target school
* Computer science and math double major, 3.9 GPA, impressive tidbits (2400 SAT, etc)
* Previous software engineering internships with Google and Amazon
* Spending next summer in doing strategy development for a high frequency trading prop shop

Long story short, I'm a computer science major who's gotten sick of the west coast. The current startup scene has driven me batty, and I've been looking to steer my career away from that.

What Does a Hedge Fund Do? (part 3)

See part 1 here
See part 2 here

From quora.com, op asked this question:

I don't understand what hedge funds do (their impact on the market and what managers do in the company). Could someone give a layman's explanation?

Balaji Viswanathan, Cofounder Fin/Tech startup has the third most voted answer:

Andrei Kolodovski and Bob Rice have already given great answers. I will add a few more points to give a little more background.

What are funds?
You must have already heard of a number of funds - Mutual Funds, Exchanged Traded Funds, Money Market Funds, Pension Funds etc.

A fund is a pool of investor money that is managed by a professional. The professional is responsible for finding investments that suit the funds objective. The profits from the investments are shared among those who have contributed to the pool of money. The professional fund manager is then compensated with a share of the money for his/her time & efforts.

The WSO Advantage

Every step of your career we have you covered. Our products & services are listed below:

Financial Modeling Training

Templates, M&A, LBO, Valuation, + more. Learn More.

Interview Prep Guides

50,000+ copies sold...for good reason. Learn More.

Resume Help from Actual Professionals

Polish Your CV to Land More Interviews. Learn More.

Find Your Perfect Mentor

Realistic Mock Interviews. Learn More.

Video Library: 100+ Hours

Industry Insight & Specific Guidance. Learn More.

Research 1,000s of Firms Free

Interviews, Compensation + more. Learn More.

WSO Job Board

Exclusive $100k+ Positions. Learn More.

Happy Hours & Free Webinars

Don't Miss Out! WSO in Your City. Learn More.

MBA vs. Entrepreneurship Opportunity

First, I want to say that CompBanker's recent article (here) was amazing and has really made me revisit my decision of not pursuing an MBA.

Even da Vinci Had to Interview

mod (Andy) note: "Blast from the past - Best of Eddie" - This one is originally from February 2010. If there's an old post from Eddie you'd like to see up again shoot me a message.

News Source Integrity: China

How do we know their GDP figures arent fictional? and how do we know that the people they get their figures from, aren't polishing the figures they submit to central government to hide from. Are they actually capable of publishing numbers that might not come across as China is the greatest country alive?

Waiting for the markets to stablilise in its recent "illogical" growth, and then shorting luxury companies that are being kept up by china, miners, and the aussie dollar.

I'd like to say hi to my subscribers from the 50 cent party who will see this and attempt to hack my email again that has the same username as my WSO username, and not my actual email address because you're bad at hacking and have the imagination of a person that grew up being told what to think.

The absolute WORST stuff you have gone through as a junior/intern/analyst at a BB

As an intern at a trading desk at a BB, I had numerous fuckups. too many to elaborate on. However, I still held out hope of getting, If not a full time offer by some stroke of luck, then at least some interviews with other desks as the previous douche bag intern had done. complete f**ko that guy.

Anyways, the icing on my f**koff cake, was when I, rather innocently, followed my teams tradition of emailing everyone on the desk in regards to a couple days off. What I had failed to notice was that previously, nearly everyone on my team, from the balding analysts to the obese MD, had given at least 3 months notice and REQUESTED permission to fuck off. no more than 2 people could be off on holidays / long whoring weekends at one time.

Dell Going Private is going to Ruin Someone's Super Bowl Weekend

Absolutely brutal. Yeah, this would be a great deal to have on your resume, but they are apparently going to finish the deal over the weekend.

Hope whatever Analyst is working on it values PE exit opps over watching the Super Bowl and having fun.

::blows brains out::

Super Bowl XLVII - The Commercials Edition

Hello fellow monkeys !

As the Super Bowl approaches, we all focus on the most significant event happening this week : the halftime break. Some of you - okay most of you - have probably been procrastinating on Youtube and seen the videos, but everybody loves a good old list.

Here's a selection of what you will see Sunday :

Mercedes-Benz : This can be summarized easily.
Pro : Kate Upton
Con : Not enough Kate Upton

Bonus Bananas February 1, 2013

1) EDWARD I. KOCH, 1924-2013 Colorful, Candid New Yorker Who Led City Through Crises (New York Times) - "...as opinionated as a Flatbush cabby, as loud as the scrums on 42nd Street, as pugnacious as a West Side reform Democrat mother..." NYC lost a true icon this morning. Rest in peace, Mr. Mayor.

2) Exclusive: JPMorgan bet against itself in "Whale" trade (Reuters) - Can you really blame the in-house traders for piling on? You don't look a gift horse in the mouth.

3) A Bank CEO Gets $58M In 2012? And You Thought Wall Street Was Changing (Forbes) - I'm gonna make you click the link just to find out who it was, because you probably wouldn't believe me if I told you. Even he thought the package was too generous and convinced his board to lower the cash portion of the bonus by $3 million.

Should I Quit My Job?

Currently having to make the hardest decision of my career so far and input would be much appreciated!

So a little background, I graduated from a semi-target UK university with an Economics degree and a frankly TERRIBLE grade (sub 3.0 GPA equivalent, a 3rd Class). After graduating I secured an IBD internship at a top tier BB (JPM / GS / MS) but due to underlying problems at the bank at offer time, basically none of the interns got a return offer (good feedback though). After that I started a full time job at a Big 4 in Audit, in a FIG coverage group - I am working mostly on US investment banks.

Now, I do not like Audit, it is not what I want to do and the job is mind-numbingly tedious. However, it is guaranteed for 3 years and with my academics and this job market that is a good thing.

Anyone Finding CFA L3 More Bullsh*t Than the Previous 2?

This CFA lark just isn't fun anymore. The brevity and lack of real world application / foundation has really hit a limit on me.

Someone give me strength! Any L3s out there hitting the same wall?

5 months to prepare for M&A...


I'll be starting as a first year analyst at an elite boutique in London this coming summer. I will be working as a generalist, mainly focusing on M&A but will also gain exposure to restructuring.

I have a considerable amount of free time between now and then (I'm no longer at University so don't have the stresses of exams to worry about), and am keen to prepare myself as best as possible.

I don't need advice on how to prepare myself non-professionally (i.e. I will have plenty of fun and enjoy my time over the coming months), but I think I'd be silly not to use some of this time to gain some more career momentum (or at least to think about it...)