Bridgewater Associates Careers Applications
I'm applying to Bridgewater Associates, but don't really know much about it. What do you all think - is it a good place to start one's career?
In the short run, I'm concerned about pay. In the longer run, I'm concerned also about how the name looks on a resume or on an MBA app.
Bridgewater Overview
Bridgewater is a global hedge fund operator, founded by Ray Dalio, an infamous billionaire. His hedge fund, located in Westport, CT, has at one point been the largest in the world. The company is known for its policy called radical transparency, which is described in the picture below from the company website.
Bridgewater Analyst Salary & Bonus
- Strategy: Global Macro
- AUM: $160.0 billion
Analyst Compensation
- Average base: $108.9k
- Average bonus: 22.0k
- Total average compensation: $130.9k
Read more about Hedge Fund Rankings on WSO.
Culture of Bridgewater Associates
Our users shared positive and negative culture points about BWA below.
Many users shared that the firm wants people who will question processes and suggest ways to do things better. Going against the grain and questioning conventional wisdom is critical for employees at the firm.
Bridgewater attempts to access this in the interview process as described by a user below. For one of the earlier rounds, there is a group debate on a common topic that doesn't require a lot of previous knowledge (ex. "Television hurts American community"). You then debate it with 6-8 other people for a period of time. This is obviously a forum in which to test your ability to question the group. This is not an experience that you can prepare for; however, our users highlighted that prior speech/debate experience will come in handy for these interviews.
However, not all Bridgewater employees enjoy the firm’s odd culture.
One user shared that they felt that Ray Dalio is the only real draw of the firm and that those that work there are not nearly as intelligent.
Bridgewater Associates Exit Opps
When it comes to exit opportunities for BWA - many users pointed out the unique culture and strategy that the company is known for makes employees somewhat less marketable when they pursue other opportunities.
The unique culture and strategies implemented at Bridgewater actually reduce the marketability of its employees. It's a very specialized group of individuals with very specific skill sets. Traders in general don't usually get their pick of b-schools because they develop skills that schools do not necessarily know how to value.
That being said, the company is prestigious and high profile which should be well respected if you are looking to move within the HF world and you are able to get around the non-compete contract that they typically enforce.
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Pay is around 100K and prestige is equivalent (perhaps higher for uniqueness reasons) than working at a BB.
Huh? He didn't even specify a job title/description and you're giving him a salary figure? And prestige is higher than doing exactly what at a BB? Do you know what you're talking about?
I interviewed with Bridgewater and was asked back for a second round, but I turned it down. The culture is odd in many respects. Please visit their website and read the letter written by Ray Dalio. Something just seems off.
The number one attribute they were looking for was somebody who was going to question processes, question this, question that and generally sink his/her teeth into the conventional wisdom and suggest ways to make things better.
All of this is well and fine, but I'm not one who necessarily thrives in a culture with such a "flat" hierarchy (really a lack of any hierarchy). They seemed to be obsessed with ensuring that I was going to throw in my two cents on everything, which makes me wonder if I'd be working with a bunch of bullshitters throwing in 2 cents, 1 cent, 2 Canadian cents, 10 Monopoly dollars, etc. in order to look good. Not sure if this makes sense, but I hope it helps you.
Hey I have an interview with BWA for the Data Analyst position next week. I read your posts regarding passing the first round. Would you be so kind enough to let me know the kind of questions they asked please?. Thank you.
extremely strong fund, $37bn AUM and recently ranked the best of the big hedge funds by institutional investors:
http://dealbook.blogs.nytimes.com/2009/09/02/bridgewater-tops-ranking-o…
I'd like to hear more too, i've been wanting to apply to their operations associate position anyone have insight on pay there?
Hows the mobility once inside? and what do other hedgefunds think of Bwater since it is from what i hear different
Thank you - it apparently seems like a place with a strong record and reputation. I'd still love to hear more from those who know about Bridgewater and the financial services sector in general.
For those who've asked about what interviewing is like: I only know what I do from alumni friends who went through the Investment Associate recruiting path. For first rounds, it's a group debate. You're asked to pick a topic (one that doesn't require vast background knowledge, like "Television hurts American community") and debate it with 6-8 other people. Depending on how the group dynamics are, as few as zero or as many as half of the group may be called back for second rounds. I know less about second rounds, but they're supposedly similar in style.
Very different style than most firms, but I think they're just trying to gauge your raw horsepower when in a group setting. Who knows? Given that the traditional interview is a notoriously bad predictor of on-the-job success, maybe it's a smart shift.
very interesting. i've never heard of such an interview style. do many other funds also have such unorthodox interviewing set-ups?
anyone know more about bridgewater's interviews and job/work culture specs?
Anyone know how Bridgewater positions someone for an MBA / how top MBA schools would see this on the resume?
If you work at Bridgewater and you want to stay in finance, you don't typically go back for an MBA.
I had my last interview with them three weeks ago. All looked fine...
I have not heard a peep ever since...If they do not want me, why don't they call or email me? Or if they want me why don't they send the offer? Should I contact them or just wait around?
Thanks!
If it's been three weeks and you haven't heard anything... that likely means you've been dinged. Firms don't always call back if you've been passed.
But, you should just follow up with them regardless. If you call and they tell you you're dinged, you can maybe get feedback on why... or at the very least get closure. On the chance you're not dinged, then you've followed up and shown interest in the role by following up. 3 weeks is a long time before following up though.
I interviewed with them for a Client Service role a few months ago. They did not invite me back for a second round interview, but after the first round I didn't want to work there anyway.
Big egos and probably some major BS hidden behind some ridiculous terms like brutal honesty or aggressively searching for the truth. I completely agree with Ovechkin, read Dalio's writings and info on the website. Then go interview. It will open your eyes about the place. And be prepared for AGGRESSIVE questioning. Don't even bother trying to finesse.
I give them credit for trying to judge ability and fit in novel ways. I also give them credit for caring enough about their hiring process to be thorough (I was there for >6 hours and pretty sure that less than 1 or 2 other people from my group stayed that long).
Basic answer: I don't think they acted like what Dalio writes about culture.
propeller,
did you ever reach out to BW about your status? I went through three rounds of interviews with them over the course of two months and a couple weeks ago they asked for references. But I know BW hasn't reached out to them, so I'm still waiting on the sidelines.
As for the culture and philosophy, I think they have good intentions but I'm sure the message and the intent get sidetracked by BS and misguided conversations/arguments. It is refreshing to see a corporation attempt to operate with meritocracy as the foundation...
....
Anyone had any luck getting an internship interview with Bridgewater if they don't come on campus?
I just received an email for interviews coming up this week.... Anyone with any recent experience / updates? I've been doing all banking interviews and don't really know what to expect from an hf interview.
Cheers.
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Bridgewater - What is comp like? (Originally Posted: 11/11/2006)
Anyone know anything about Bridgewater Associates? Is it a good place to work straight out of college (Investment Associate position)? Does it look good on the resume? What is comp like?
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Bridgewater Associates is one of the best Hedge Funds.
From what I've heard people at Bridgewater are mostly superegos.
From what I've heard people at Bridgewater are mostly superegos.
really?
i don't think its a tradition hedge fund... The things people said, and their website is makes it look more like a traditional long term "investment fund"
Will bwater not being a traditional hedge fund affect exit ops?
Bwater is trash. Don't let anyone fool you. Ray Dalio is the only person with a brain there and without him the fund would vanish because the people that work there are god damn retarded. I worked there for two year and I thank god everday that I made the right decision to leave. There are tons of other HF shops friend. Don't get caught by BA's spectacular returns because its not being generated by the people there but by Ray alone.
they pay really well
To the original poster, there are a lot of threads about Bridgewater on here with more/better info; make sure you do a search for them. Bridgewater is also one of the most-covered hedge funds in the media because of their size, strong returns, and eccentric founder.
True (one of the largest, most famous, strong returns, highest junior level pay) Many are; the firm has a quirky culture that encourages people to be aggressively forward with each other. They can say they're a nuclear power plant but they still invest 3rd party money in alternative strategies in return for a management fee and an incentive fee. They are a long way from a "traditional" "long term" "investment fund." The junior people I know who worked at Bridgewater did not have a hard time finding other roles; the extent to which Bridgewater is not a "traditional hedge fund" has more to do with organizational structure and culture than with anything about its strategy or investment style like Tuneman implied. golf clap Everyone who I know who works or worked at Bridgewater is extremely smart but none of them could articulate what they did as part of the investment process and all of them had very strange experiences. Very true.Bridgewater - Any thoughts? (Originally Posted: 12/13/2006)
Anyone know anything? Any thoughts?
Other than that pay is awesome (above BB for sure)
And that you are in sh*thole Connecticut?
I'm at a target school for summer interns, but I heard from a friend about special interviews going on 2 weeks before they come to campus at Bridgewater to try to fill some slots before hand. So kind of have to act quick.
Any thoughts versus GS/Other BBs? Or any thoughts on Interviews?
If you worked at Oaktree you'd be a good candidate for Bridgewater. Banking is banking - opens up doors - but life sucks, if you want to work in a place like Bridgewater you might as well start of there.
No working in control distressed PE this fall, bankruptcy consulting summer of 2005. Had classes this past summer.
Comp - I assume you're talking about entry level. I don't know if its above BB, but its not below either. On an hourly basis Bridgewater >> BB.
Location - Being in CT is what it is, but Bridgewater compensates somewhat by having a bus that runs every day from NY to their office.
Quality of Life - Everyone seems really happy there. The hours are good, and people who went there after banking agree this blows banking out of the water.
Exit Opps - Being that Bridgewater's strategies are pretty unique even relative to other hedge funds, this one is a pretty big question mark. I would guess though that you could always jump from there to Bschool and then transition into another area of finance.
Interviews - Their interviews really stand out and were one of the first things that got me interested in the firm. Along with some standard fit questions and some relatively tough brainteasers, Bridgewater makes you do an impromptu discussion/debate with two of their associates on an open ended topic they give you. The topic does not require specialized knowledge and isn't related to finance. An example might be, 'When is foreign intervention justified?' (made up). You're then expected to go through some analysis and develop some ideas/views about the topic, which you then discuss with the associates. It's not something you can really prepare for, although prior speech/debate experience will come in handy.
how hard of a brainteaser... do can you give an example?
What's the deal with Bridgewater Associates? (Originally Posted: 07/27/2007)
Good? Bad?
A guy from my brother's graduating class from a few years ago has been working there. I didn't know he was interested in finance and I was surprised he got a job at a hedge fund. He tells me his compensation is higher than IB and always has been -- even when he started.
Is this true? Why does this fund take undergrads? What is their function there?
Bridgewater is pretty serious.
too bad their returns have been so shitty this year
you could just read the website to find out there function:
the Investment Associate program at Bridgewater is an intense, analytical training program for recent graduates. Both on the job and through in-depth formal training, you will be faced with interesting, challenging problems and learn:
You will be exposed to our Research, Trading, Client Service and Marketing departments. As a fit emerges, you will have the opportunity to concentrate in one of these areas. Investment Associates participate in substantial training, including a nine month course on economics, markets and financial securities.
We look for individuals with extraordinary intellectual capability and curiosity, as well as the ability to rapidly learn and apply new concepts. We seek diversified educational backgrounds for our team and therefore encourage applicants from all academic disciplines to apply.
So these guys are legit? They sound alright. How's the comp for first-years?
Returns? Near the big-hitters (SAC, RenTech etc.)?
Legit? They are one of the biggest HFs out there not to mention a big presence in other Asset Management areas as well. At one time they were hands down the largest HF...Ray Dalio was one of the first to get cash from pension funds. Their infrastructure is better than 95% of HFs.
No their returns aren't like SAC or rentech. Portable Alpha has a high teens/low 20s returns I believe. There is a article about Ray Dalio on Bloomberg.
Full fledged asset management firm really. Good shop and (as far as I know) they pay very well (bonuses are dependent on performance and not seniority). I would believe your bro's friend.
As for why they take undergrads...there are quite a few firms taking undergrads. Previously, HFs were very small shops, with nearly no infrastructure. They didn't have the capabilities of training new guys. Quite a few firms have built them up now and are able to take on undergrads. Citadel, DE Shaw, Bridgewater, SAC are just a few shops taking them.
SAC takes undergrads?!
http://www.careers.sac.com/
lol at the guy asking if Bridgewater is legit
"So these guys are legit? " Are you honestly considering a career in hedge fund.
I am not considering a career in hedge funds. I am asking because my knowledge of hedge funds is limited and I think I remember these guys recruiting at my target.
Thanks for the help guys.
SAC goes to UMASS- Amherst....that's a huge surprise...
DE Shaw/Bridgewater/Big HF versus Top BB IBD Group (Originally Posted: 09/21/2007)
Which do you think is a better opportunity for a recent graduate out of undergrad? Working at a big hedge fund like DE Shaw, Bridgewater, etc. or working in a top group in IBD (think GS TMT, GS Industrials, MS M&A, etc.).
Thanks!
It really depends on what you want to do longer term with your career. Of course, it is hard to know if you are just coming out of college. If you are interested in trading and like the fast paced nature of the markets, starting at a hedge fund could be a good move. The training should be pretty solid and with firm's like D.E. Shaw and Bridgeater they will mold you into exactly what they need to make you useful for the firm. If you are smart, add value and they like you, your position and pay could increase quickly (especially with one of the guys you mentioned). If you think you may have more interest in pursuing PE longer term definitely go the IB route. IB offers great training for a career in finance (PE, RE, HF, Equity Research, Corporate, etc.) and could help you land a variety of jobs down the road.
I mean, D.E. Shaw and B-Water would teach you a very different skillset than what IBD would. Now if you were thinking of a HF like ESL, or Lone Pine, those are very similar to IB so they would give you the exit options of PE, other HF, Asset Management, Research, etc.
These aren't interchangable places to work so you have to decide what you want to do. Do you want to trade? If so, GS TMT, Industrials or MS M&A won't help in the slightest. I think you just need to think hard about what you want to do and what you are best suited for. Good luck.
-J
What about a PE branch of a D.E. Shaw or Bridgewater?
Bridgewater Associates Career Choice (Originally Posted: 03/22/2010)
I recently finished my first round interview with Bridgewater Associates for a Trading Associate position. This seems like an excellent opportunity to start a career in Asset Management/hedge funds, but I heard and read some negative things about the company's "constructive criticism" based culture. I have no problems handling criticism and arguments, but the main part that is giving second thoughts is the lack of involvement in investing decisions by the trading department as a whole (even in more senior positions). As someone who plans on being a future fund manager, would Bridgewater be the right place to start my career out of college? Since I am from a non-target school, I think it is a great opportunity as long as it can lead toward my long run goals of portfolio management.
In addition, what do business schools think about the firm? And if I have no chance of any input of investing decisions in the long run, what some exit opportunities in investment management that are available for someone working there after a few years.
unless you have other amazing options take it and dont think twice.
I agree. In this market a bird in the hand beats two in a bush.
theyre one of the biggest and one of the more prestigious hedge funds ... they pay amazing and have a cool culture. whats there to not like? many kids would take them over GS/MS IBD
You come from a non-target school and landed with the biggest hedge fund in the world. Fuck culture - celebrate. Congrats!