15+ Rounds of interviews, including several final rounds. Advice on how to stay healthy, motivated and positive in HF recruiting?
Title says it all. Trying to get out of a toxic work environment for half a year (watching several colleagues having already successfully jumped ship). Been doing the multitude by leveraging network, using a bunch of HH (probably too many but that's a past mistake now), and reaching out directly to folks in industry. Partially trapped due to deferred comp as firms without pass-through model are less likely to offer any meaningful sign-on. (Hence, why quiting is also tough). Recruiting has been more challenging and stressful than the actual job itself and even some drawdown periods I've been through. Feels like a constant battle of too much politics, constantly showing up excited like an acting class, and ironically, less focused on quantitative measures of my performance. It probably doesn't help that feedback is limited and the net-neutral guys suffered a 3% drawdown this month on average.
I've made final rounds of most processes on both the MM and large L/S SM side, it's just that they've taken FOREVER. My most recent devastating process was a rejection at a large multi-manager where I did multiple case studies over several MONTHS— most of which have actually worked in real-time (And yes, I know that technically the case is all about just "thought process" and not how it actually does in one month but that doesn't stop people from questoning whenever one goes wrong). I made it past senior leadership, did extended in-person rounds, and still got a no. Feedback was limited.
Not sure if it's me or just bad luck which has spiraled into self-doubts of adequecy along with burnout from culture. Maybe I just don't have enough charisma. All of this has been exacerbated by actual health degredation in tandem with the stress of recruiting at the same time as managing the full-time gig. 2 of the large MM firms have resorted now to ghosting me (not sure if they got pissed that a HH submitted me twice even though I told them no to) and Biz Dev won't even entertain a convo after they're used reach out for years in the past. On the top single manager side, as you guys probably know seats are hard to come by so I haven't had as much luck there. I even resorted to talking to a start up fund that seemed interesting but of course they ended up not hiring anyone at all after I did 2 case studies. Feel lost. Work so hard and each process lasts months, pour a ton into the cases, have gotten almost universally positive feedback and then some issue comes up. It could also be that my experience level is weird because I entered buyside earlier than most but I'm not 30 yet, which makes me in a weird spot where I'm often younger than some senior associates but not interviewing for those roles. That said, my work product I would think has mostly proven this out.
Rambling over. Not sure what to do. Stop and take a break and see if new roles surface later? Keep interviewing like crazy even for roles that pay 50%? Reach out to sellside too and ask if they could connect me with someone? Luckily have a fairly large emergency fund but would prefer not to tap into it.
Based on the most helpful WSO content, here’s a structured approach to staying healthy, motivated, and positive during your hedge fund (HF) recruiting grind:
1. Prioritize Your Health
2. Reassess and Take Breaks
3. Refine Your Strategy
4. Stay Resilient
5. Manage Expectations
6. Consider Alternative Paths
7. Stay Organized
8. Lean on Support Systems
Remember, the recruiting grind is tough, but it’s a testament to your resilience and determination. Keep pushing forward, but don’t forget to take care of yourself along the way. Good luck!
Sources: Depressed from recruiting, How the hell do you stay healthy in sweat shop groups?, 6 Tips To Boost Your Confidence And Nail Your Next Job Interview, How the hell do you stay healthy in sweat shop groups?
where are you hearing the average l/s team is down 3% this month? ytd performance seems fine across the platforms so wouldnt really consider this a drawdown period.
I got it from the prime services. I guess I should say in aggregate vs. average, which was a typo on my part. Most of the MM's L/S equities have almost wiped out their YTD gains in March, in particular last week bringing them to around flattish to slightly up in 26 so far (P72 the exception).
https://www.bloomberg.com/news/articles/2026-03-11/de-shaw-s-hedge-funds-gain-in-a-brutal-week-for-multistrat-peers
- here's a staler public post. What I've gotten from others though was worse.
Hang in there bud
Sorry you’re going through this. Knew a guy from undergrad who made it to a top EB and got dragged along by a MM for 5-6 months and got no offer. He’s now at a newer L/S equities fund and killing it. Your time will come keep fking going.
Hopefully thanks for the encouragement! Damn, that sounds like major deja vu to me.
sorry you're going through this. unsurprising given the current job market. what is your current comp and what are "roles that pay 50%" paying?
Everything depends on the bonus but the bases being quoted are pretty low for those other roles. A good year for me would be $750k+. My worst year would be around like $350k. Base is $225k. I'm young enough where I would still like a faster paced environment, but if all else fails I'm willing to take a pay cut for better WLB.
What I haven't been ok with is a firm that wants to have zero sign on bonus, base of $150k, and pure discretionary (vs. any formulaic) bonus with no reference checks. That last point is very important I've seen this time and time again that without at least some contractual framework, it's extremely easy to get into hot water at year-end. It's even worse if they have had poor turnover.
The industry is too small so I won't say the names of those "Roles" but you can lump in smaller SM's (probably had fundraising challenges), some of the quant (and macro) shops that are now trying to do fundamental L/S, and some of the tier 2-3 funds (that don't have pass-through model). And then even the larger funds, they don't want to allow me to interview for an associate position (even though at this point I'd probably take it).
Sorry to hear this. Do you think the HH thing is that bad? I think they just contractually have to tag you to the same headhunter for a certain amount of time.
I'm not sure. But I did have one HH submit me and say that I had already been submitted despite me checking my email and being 100% sure that I never approved sending me in. I ended up not even getting a 1st round interview at that place, which was a 2nd tier MM, which has been usually the exception vs. the norm.
sorry, did I get it right that the problem is that you applied to a position and then your HH sent your CV to the same position? and that made the company you're applying to not consider you because your CV was submitted twice?
Sounds like LR. They always do that
Sorry to hear this, it sounds rough. Just to share (hopefully) encouraging anecdote: friend of mine went through something similar, in one case also making it to the final round at a MM and was clearly one of the last 2-3 candidates; role ended up going to someone else simply because they wanted someone with more YOE. He sunk months of case studies into it (among other HF roles).
~6 months later he landed an offer at an arguably better firm, plus better location he wanted. He's doing great in his new role.
Would consider taking a few weeks to catch your breath since you sound burnt out, but it's definitely a persistence game, and at this point in your career, the interview process for any one role is very long.
Second on taking a mental break. This is also a tough market with all the uncertainty.
Another hopefully encouraging anecdote: my search process lasted little over 6-7 months. Did tons of pre-case study interviews at many funds, 8 final rounds, 8 case studies… some dragged their feet for weeks to get back to me. I would have no doubt been happy at any of the funds I interviewed for because I was leaving a toxic environment too.
Kept getting rejected after cases/meet the team rounds with all sorts of BS (need more YOE, need less YOE, not sure if I’d be committed to moving to a new city, etc.), but kept going… and eventually fund #8 offered me a role and if was the best seat I could get (and arguably one of the best seats on the street). Now I’m on a team that I love and a job that I wake up excited for (most days). I wholeheartedly believe that I was rejected from earlier seats because I was meant to join my current one.
You might be at the end of the tunnel with your search, so don’t give up now. Realize it’s discouraging to not hear back after all the effort you put in, but you will find a seat that’s meant for you soon
Thanks for the stories all!
Update from the OP: I finally got what seems like a great offer! I'm glad I took a break and didn't give up hope.
Ea velit omnis dignissimos modi dolor numquam ducimus. Ut cupiditate ea incidunt nesciunt. Amet ut fuga itaque delectus debitis. Labore ex minima nihil qui quia ab sequi. Ea corporis magni adipisci ipsum aut et. Facere mollitia at rerum voluptas. In possimus ex autem aliquam aut et ea earum.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...