Best way into Long/Short Equity: Long only vs IB

Question

Hello,

I am in my last year of uni and I have full time offers from both Credit Suisse IB and the Allianz Global Investors, both in London. Which offer should I take given my objective of getting into a reputable Long/Short Equity hedge fund? Not interested in PE or anything else, just equities based hedge funds.

DeepLearning · Accepted Answer

I think it's a combination of both. If you can find a good LO gig with a large/stable capital base, there isn't much reason to leave. Work 45-50 hours per week, probably make 500k+ as a senior person. It's a shrinking industry though. Active management is still quite solid with emerging markets, internationals and small caps with median managers actually beating benchmarks. But there's just less money in those strategies. Active US large cap long only stock pickers are pretty much dead.

Ovechkin08 · Answer

You have no idea what kind of investing will interest you once you actually get into the industry. When I was a student I was 100% certain that I would end up in long-only equities in a deep value shop. Today I work in credit and wouldn't even consider leaving this space. Take the IB position as it will give you the widest possible exit opportunities, including both public and private markets. You can always join a long-only like AGI after your IB stint if that's what you want.

ThatOtherGuy · Answer

Both are great but your pipeline is larger with IB. Hedge fund headhunters mainly poach IB kids and while long-only has a relevant skillset, there's a bias for IB because there's a set expectation as to what you're capable of given that most IB's have training programs.

+45	Do Quantamental roles really exist?	20	1d
+18	Worth Joining a Small Hedge Fund?	13	2d
+17	L/S Equity Career London	11	1d
+12	Hedge Fund (Fundamental Long Short Equity) Compensation in Singapore Hong Kong	3	2d
+9	Nvm	6	1d
+8	Yes, this question again…	3	2d
+5	X	6	5d

1	redever	99.2
2	BankonBanking	99.0
3	Secyh62	99.0
4	kanon	99.0
5	Betsy Massar	98.9
6	dosk17	98.9
7	GameTheory	98.9
8	DrApeman	98.9
9	CompBanker	98.9
10	numi	98.8

Elite Career Bootcamp. Top Job Offer Guaranteed.

Elite Career Bootcamp. Top Job Offer Guaranteed.

Best way into Long/Short Equity: Long only vs IB

Elite Career Bootcamp. Top Job Offer Guaranteed.

Elite Career Bootcamp. Top Job Offer Guaranteed.

Best way into Long/Short Equity: Long only vs IB

Trending Content - Hedge Fund Forum