HF for College Grads

hedge fund jobs are, contrary to popular belief, not terribly difficult to get. Entry-level HFs don't pay the millions per year that HFMs make, but they're competitive with IB and have shorter hours. Your school matters a lot less than in IB but your major and GPA matter more; a 4.0 math major from Michigan is going to beat a 3.4 econ major from Harvard.

Which hedge funds are you referring to? Links?

i don't know if a math major will do well. The quant funds want PhDs, not undergrads. They don't need that many analysts either. A debt fund would require a lot more business sense that strict numbers brilliance. Most math geeks would flame in these jobs (doesn't mean that those that are good at both numbers and the other required skills won't be in high demand...)

What is your authority to post on this subject anyway? do you work in the field?

I know of a couple people who started hedge funds and about the general pool from which they hired. I do not work at an HF right now but I've considered the career.

Most of the mathematics used at such places can be learned at the undergrad level, applied side. The draw of the PhD is the indicator: general intelligence. The degree itself doesn't matter, and those who can establish sufficient intelligence otherwise are usually considered admissable.

I didn't, of course, say that the hypothetical 4.0 math major from Mich would be a walk-on for the job, but only that he'd have a better shot than the Harvard econ kid, who might have an edge in IB.

What are the top debt funds?

My hedge fund hires right out of college.

im sure you don't want to name it for obvious reasons, but what schools do they target and which majors do they like?

tons of hedge funds recruit - but your training experience will not be as structured as from a bulge bracket

Do the hedge funds expect you to go to business school after 2 years?

I am only at intern at a Dallas hedge fund right now, but my boss suggested that even though there a few analysts/traders straight out of undergrad that work here, he would prefer me to do a 2 year stint at an IB and then they would take me back, situation permitting. I have kind of accepted my faith of "having" to do Investment banking, though i am looking forward to it, but not the hours. Actually, since I do a lot of shit for numerous departments here, I kinda got used to working long hours. But nevertheless I am currently loving the atmosphere of hedge funds and the people that I work with.

what do you do for the hedge fund?

Well, my main job is with the Credit Strategy Group. But I also help out for Operations, and I do end of day reports, just to get more hours. :)

This shit is bananas

Btw, Citadel does hire undergrads

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need a few more bananas

me too

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Would an accounting grad with a MACC be a good candidate for a HF position?

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Anacot Steel has gone bananas. lol

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this is 3 - thanks

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I am currently interning at a fund of hedge funds. Any thoughts?

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the two large hedge funds that hire directly out of undergrad are DE Shaw and Citadel.

There are tons of "less public" hedge funds in the CT and NYC area that hire out of undergrad. Usually you need to seek them out and show initiative and graduate from a top math school (princeton, MIT, etc)

what about finance majors?

I work in Prime Brokerage (we service Hedge Funds) and all of the "entry level" jobs I've come across were for young people a few years out of college, but with no MBA. Sounds like a lot of the bigger funds will hire out of undergrad, but from their perspective, a 2-year analyst stint at a BB means you can handle the pressure...

Citadel, DE Shaw, Jane Street capital, Susquehanna,

what's this banana thing

don't be such monkeys...lol

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Susquehanna and JSC are prop shops.

What does an intern do when they say they work for/in HF? What is their role?

is working for them almost the same thing? please explain

whats the purpose of getting so many bananas?? higher ranks...thats it? why bother?

Not the same thing. HF's are investing in securities, FOF's are investing in HF managers.