WSO Hedge Fund Interview Prep Package in the Works!

***NOTE: I am willing to pay cash AND give you a free copy of the package if one of your cases or pitches ends up in the actual guide.*** Please send me an e-mail ([email protected]) explaining the case or pitch (long vs. short or type of case study) and I'll tell you more.

Now we are at the very preliminary stages of planning this out, but I'm asking for some feedback for a very rough outline below, as well as asking anyone who recently had to go through a hedge fund interview to reach out if you have any equity or credit investment ideas and/or longer form case studies that you have already put together for your interviews. If so, send me a quick e-mail and I'll give you more info :-)

As part of this guide as you can see below, I am looking to have a large collection of case studies and pitches from a variety of different asset classes / fund types so that anyone with any type of HF interview can find a case or pitch that they can model theirs after.

VERY ROUGH OUTLINE

Intro: why does this guide exist?

How to Use this guide
Common Traits of a Successful HF Candidate

I. Chapter 1: Industry Overview

Brief History
Early Stage
Boom & Bust
Recovery and future
Fundraising

Hedge Fund Strategy Types
Long / Short Equity
Credit Focused / Distressed
Event Driven / Merger Arbitrage
Macro Focused
Hedges and Derivatives
Others - Ascent of Quant Focused Funds, HFT and how they impact the above strategies

Fund Economics

Illustrative fund economics example how HFs make $ with 2/20

Titles & Roles
Analyst / Associate
Senior Analyst
PM / Portfolio Manager

Compensation

II. Chapter 2: Industry Operations

Investment Process
Research
Tools Used for Different Fund Types
Long / short equity Diligence
long / short credit diligence
Event Driven Diligence
Macro Trading diligence and trends
Investment Lifecycle
Hold periods
Catalysts
Reward potential and Risk mitigation techniques
Liquidity
Derivatives and/or other Hedges
Position sizing
Other position considerations?

III. Chapter 3: Recruiting Overview
Common Hedge Fund Career Paths
How to Build a HF Background
Recruiting Cycle
How to Work with Recruiters
How to Choose an Offer
How to Write Your Resume

IV. Chapter 4: Interview Preparation
Interview Process
Phone Screen
Investment Quick Pitch - not well known names but not thinly traded either
Longer Form Case Studies
Late / decision Rounds
10 Sample brainteasers Common in HF Interviews

20 Sample Fit Questions Common in HF Interviews

Sample Pitches and Case Studies
Long / Short Equity
3-5 long ideas. 2-page pitches? + template
3-4 short ideas. 2-page pitches? + template
4 long form case studies (2 long, 2 short) + VIDEO
include excel templates
include PPT templates
include research documents and step by step instructions on case prompts, steps taken to complete case in video form (walking through sources used, etc)

Credit Funds
2-3 long ideas. 2-page pitches? + template
2-3 short ideas. 2-page pitches? + template
4 long form case studies (2 long, 2 short) + VIDEO
include excel templates
include PPT templates
include research documents and step by step instructions on case prompts, steps taken to complete case in video form (walking through sources used, etc)

Event Driven / Merger Arb
2-3 investment ideas + template
2-3 long form case studies

Macro
3-4 investment ideas with write up based on macro trends + template...ideally across different asset classes
Derivative investment ideas or cases or as supplemental to any of the cases/ideas above?

Chapter 5: Conclusion

Thoughts??

 

i'm not sure how many 'structured' case studies you're going to find. in the 4+ case studies i've done now (either in office or out), anything take home was honestly just them giving me a ticker and telling me to submit a recommendation + model in 2 weeks.

 

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Career Advancement Opportunities

March 2024 Hedge Fund

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

Overall Employee Satisfaction

March 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

March 2024 Hedge Fund

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

Total Avg Compensation

March 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 (249) $85
notes
16 IB Interviews Notes

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From 10 rejections to 1 dream investment banking internship

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