Hedge Fund Geographic Mobility

Looking at a career in hedge funds after my stint on the sell side. Wanted to
Probe the community and see what sort of geographic mobility one has in the space as far as places to live both domestically and internationally. This can be within the same firm or across firms. What about the opportunity to travel for business?

Any insight would be much appreciated, thanks!

 
Best Response

At a large fund, once you have made some money/established some credibility as a PM you have almost complete geographical mobility but that takes some time and it tends to come in steps. For example, after a couple of years of being a profitable PM you can definitely set your own hours, be at the office when you want, etc and I would say after 5-7 years you could realistically say, "hey I am going to work from XYZ location full-time" if you want to. This type of setup is pretty common and where i work we have quite a few PMs who don't really ever come into the office and work full-time from cities where our firm has no office presence. Really it is up to the PMs discretion as long as the performance is there...the ones that are more political and want to become "the next " tend to be in the office everyday in the firms headquarter city, whereas others are content to run a book a bit more "under the radar" and those guys often kind of fade out of the normal office routine as time goes by and often end up moving (usually to a lower tax domicile). In terms of travel for business it totally depends on your style/strategy but you can do as much or as little as you want...however you will have expense limits and anything you do for business above a certain level will come out of your top line PnL.

As an analyst, as opposed to a PM, you do not have geographic mobility, you have normal office hours in most cases, and you may travel for work without cost but it will be much more structured and you will be expected to provide hard product in the form of written research for any trip you take that the firm pays for...the amount an analyst ends up traveling depends on what he covers but in macro our economists usually end up doing a couple of trips per year to the countries they cover.

 

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