HF Associate Program Exits

Started in a grad scheme at one of the big HFs (think Citadel/DE Shaw/Millennium) for L/S investing out of undergrad. I'm worried about getting an actual seat out of the program because there are always a few every year who don't match. Where do I look? When do I start looking? Do I just do my absolute best in my year and ignore recruiting until I'm 2-3 months out from the end of the program?

My background is more STEM (Math/tech bg) than finance, so I don't know how many looks from HH and similar-caliber firms I could get. I've narrowed down my areas of interest to growth equity and other public equities roles - not picky on sector but consumer and tech would be ideal.

Do I have to go back to the sell-side for more substantive experience, or move down to a smaller shop? I know the hiring market is also terrible rn, wonder if timing to Q2 2024 will be better?

 

What I have seen:

  • Join another HF and be recruited by a PM there (best case scenario - you were a fit for the industry but no pods at your home shop were hiring)
  • Join another team internally (seen in p72, going from investment grad scheme to an internal proprietary research role or into the private investments team)
  • Grad school (law school etc)

haven’t seen sellside moves

 

Corrupti doloribus nesciunt asperiores dolores beatae ea modi. Esse est minima voluptatem id fugit. Natus dicta quia ipsam eveniet occaecati. Mollitia velit eos voluptatem.

Career Advancement Opportunities

April 2024 Hedge Fund

  • Point72 98.9%
  • D.E. Shaw 97.9%
  • Citadel Investment Group 96.8%
  • Magnetar Capital 95.8%
  • AQR Capital Management 94.7%

Overall Employee Satisfaction

April 2024 Hedge Fund

  • Magnetar Capital 98.9%
  • D.E. Shaw 97.8%
  • Blackstone Group 96.8%
  • Two Sigma Investments 95.7%
  • Citadel Investment Group 94.6%

Professional Growth Opportunities

April 2024 Hedge Fund

  • AQR Capital Management 99.0%
  • Point72 97.9%
  • D.E. Shaw 96.9%
  • Magnetar Capital 95.8%
  • Citadel Investment Group 94.8%

Total Avg Compensation

April 2024 Hedge Fund

  • Portfolio Manager (9) $1,648
  • Vice President (23) $474
  • Director/MD (12) $423
  • NA (6) $322
  • 3rd+ Year Associate (24) $287
  • Manager (4) $282
  • Engineer/Quant (71) $274
  • 2nd Year Associate (30) $251
  • 1st Year Associate (73) $190
  • Analysts (225) $179
  • Intern/Summer Associate (22) $131
  • Junior Trader (5) $102
  • Intern/Summer Analyst (250) $85
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
BankonBanking's picture
BankonBanking
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
Secyh62's picture
Secyh62
99.0
5
dosk17's picture
dosk17
98.9
6
GameTheory's picture
GameTheory
98.9
7
CompBanker's picture
CompBanker
98.9
8
kanon's picture
kanon
98.9
9
bolo up's picture
bolo up
98.8
10
numi's picture
numi
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”