15 Comments
 

I joined one of the large MM's in L/S out of school, so I didn't do the IB path, but I can try to answer for MM L/S specifically:

Most people join after their analyst stint in IB (within 1-3 years) or equity research. 

Mostly modelling and research to begin with, as you learn the PM's process and understand how your stocks trade, you can start actively pitching ideas within your coverage. Managing/ops is a different job entirely.

 

Analyst 1 in HF - EquityHedge:

I joined one of the large MM's in L/S out of school, so I didn't do the IB path, but I can try to answer for MM L/S specifically:



Most people join after their analyst stint in IB (within 1-3 years) or equity research. 



Mostly modelling and research to begin with, as you learn the PM's process and understand how your stocks trade, you can start actively pitching ideas within your coverage. Managing/ops is a different job entirely.


Does managing/ops come with a heavier baggage as compared to an IB position for a similar role..thanks for the reply tho

 

This is a great example of why websites like mergers & inquisitions are great. OP - on that site there are articles about multiple different paths in finance, the work involved, the workload and whatnot. Reading those will be way more helpful to you (and truthfully less annoying to people here) than asking all these questions to piece together where your interests lie. 

 

Fugiat repellendus ut omnis tempore quasi dicta et distinctio. Et vel molestias dicta. Facilis ex officia in quos. Architecto omnis quisquam aliquam numquam voluptas eos. Dignissimos consequatur placeat ratione eum sed similique ab repellat.

Illo voluptatem corporis blanditiis voluptas quos ex. Doloremque maxime est similique earum culpa. Voluptas adipisci placeat provident voluptas repellat. Ut ipsam aut velit quia.

Career Advancement Opportunities

November 2026 Hedge Fund

  • Point72 99.0%
  • D.E. Shaw 98.0%
  • AQR Capital Management 97.1%
  • Citadel Investment Group 96.1%
  • Magnetar Capital 95.1%

Overall Employee Satisfaction

November 2026 Hedge Fund

  • Magnetar Capital 99.0%
  • D.E. Shaw 98.0%
  • Blackstone Group 97.0%
  • Citadel Investment Group 96.0%
  • Two Sigma Investments 95.0%

Professional Growth Opportunities

November 2026 Hedge Fund

  • AQR Capital Management 99.0%
  • Point72 98.1%
  • D.E. Shaw 97.1%
  • Citadel Investment Group 96.1%
  • Magnetar Capital 95.1%

Total Avg Compensation

November 2026 Hedge Fund

  • Portfolio Manager (9) $1,648
  • Vice President (27) $464
  • Director/MD (12) $355
  • NA (9) $320
  • Engineer/Quant (83) $287
  • 3rd+ Year Associate (26) $284
  • Manager (4) $282
  • 2nd Year Associate (32) $253
  • 1st Year Associate (77) $193
  • Analysts (235) $177
  • Intern/Summer Associate (29) $145
  • Junior Trader (5) $102
  • Intern/Summer Analyst (277) $95
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
BankonBanking's picture
BankonBanking
99.0
3
Secyh62's picture
Secyh62
99.0
4
kanon's picture
kanon
99.0
5
dosk17's picture
dosk17
98.9
6
GameTheory's picture
GameTheory
98.9
7
CompBanker's picture
CompBanker
98.9
8
DrApeman's picture
DrApeman
98.9
9
Betsy Massar's picture
Betsy Massar
98.9
10
Jamoldo's picture
Jamoldo
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”