Let me preface this post by saying this is going to be a very stupid question and I'll get shit for it, but hey I'm just a monkey and I'm still learning the ropes.
How can I focus my search when looking for funds to apply to?
Background:
I'm a senior at a school that's not even in the shooting range it's so far off, my GPA is mediocre (at best, 2.8 but rising having gotten Dean's List this past semester), and no internships under my belt, so I know it's going to tough if not close to impossible. I'm not letting that get me down though and am still going to go in guns blazing.
So as the question says, how can I narrow my search down? I made use of the WSO database, of course, as well as a few other databases, but I can't afford all the added info so I only get names and AUM. So as of right now I just have a list of funds that is totaling close to 1,000 names. Obviously, I can't apply to all of them. I know I want to go to a firm with a mid-level AUM and somewhere that focuses on long/short equities both domestic and international. But as I said, I can't figure out the best way to filter out the funds from this huge master list without going through 1-by-1 which has proved to be rather slow and arduous.
Any advice for an up-and-comer to try to make the best use of his time while searching for his future employer?
Let the shit-throwing begin I guess.
going for a hedge fund job will be a dead end. if I were you, I'd look at getting a MSF from a good school, crushing the GPA, and trying to break into IB or ER that way. you need a reset after a bad GPA and lack of experience, that could be a good way to do it
Would agree with thebrofessor. Also, if that route (the "fresh start"), then I would think your best option is to shoot for lesser-known and smaller funds and network the shit out of yourself and take the extra step to give you an inch. CFA would be great. Build sample models and sample research reports. But to Brofessor's point, if you went to a grad school and got a 4.0, you don't even need your bachelor gpa on the resume. If anyone asked about it, they are overlooking quality (assuming you got a high GPA in grad school).
I actually am already registered for the December CFA exam and should be a student member soon so that I can attend the events. I think for me the idea of grad school is just as out of reach due to cost and family obligations, as in my wife and I wouldn't be able to afford to pay rent and eat if I was going to grad school.
This is the main reason I'm looking to enter into a smaller firm like you said, Robber. I'm starting work now on a couple of models on the advice of a different thread that will show both a long opportunity and a short opportunity. The other reason I thought about going straight to HF was because I did read an interesting article about how not many people go straight from undergrad to trying to enter that industry when in reality there isn't much going against a good student, though my GPA would suggest I'm not one.
So would the added benefit passing the CFA (if I do) and having models already done to send in with my resume give me a boost? If so, to bring it back to the original question, how can I identify these smaller funds that use long/short methods? I'm considering going with T Rowe price as well because they're local and have a decent connection with my school so it'd be easier to get my foot in the door. My fear is that I'll end up being stuck there for years and years not pursuing my dream job.
You'll have to do the research on your own. I know Axial does a great job of filtering investment banks and private equity groups by location or what their industry focus is, but I don't know for sure if they do hedge funds.
This is just my opinion, but as someone who would rather be in equity research or Asset Management, most positions I see anymore require the CFA, so that seems to be a huge boost these days.
i don't think you understand how difficult this industry is to break into.
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