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For big/ institutionalized hedge funds it tends to happen at the same time for post-banking roles. Overall, hedge funds tend to be more sporadic. Most of them start looking when they need someone and stop looking when they've found the right person, with limited regard for the 'recruiting calendar'.

My SWAG: 80% of PE opps will be had during the March - June 'season' and 20% will trickle in at other times. 50% of HF opps will be had during the same period, with >50% happening 'off-cycle'

 
ValueInvestor888

Bump

It's year-round, like dazed said. It's on an as-needed basis.

Some places have entry-level analyst classes that are on the IB campus recruiting cycle, but this is only at the largest & most-institutionalized of managers.

Array
 
Best Response

Most major funds that consistently hire analysts on a year to year basis from IBD recruit on the same timeline as PE for post-banking roles. These include a majority of the big traditional L/S, value, distressed and activist shops. However, the subset of banks and banking groups that these funds hire from is often much smaller than their PE counterparts and you won't hear of most of these opportunities unless you are in the aforementioned groups or aggressively reach out to and impress HF centric headhunters.

The rest are ad-hoc processes as others have mentioned although some of the big funds with tiny headcount that only take on a new analyst once every few years and as needed tend to move in lockstep with the general buyside recruiting process too.

 

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