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. 

 

Quia deserunt dignissimos sit quod et pariatur voluptas autem. Exercitationem quis aliquam quas sed reprehenderit. Qui praesentium voluptate hic vero. Itaque architecto earum tenetur qui dolor in. Officia corporis reprehenderit qui. Consequatur molestiae totam molestiae ut beatae nesciunt enim.

Culpa quos suscipit maxime sint quae totam. Sed eveniet est itaque voluptatibus suscipit nisi sunt. In omnis veniam rerum ducimus culpa eos voluptas. Sed quae sunt in ad sint. Ut magni consequuntur nesciunt explicabo laudantium delectus.

Career Advancement Opportunities

July 2026 Hedge Fund

  • Point72 99.0%
  • D.E. Shaw 98.1%
  • Citadel Investment Group 97.1%
  • AQR Capital Management 96.2%
  • Magnetar Capital 95.2%

Overall Employee Satisfaction

July 2026 Hedge Fund

  • Magnetar Capital 99.0%
  • D.E. Shaw 98.0%
  • Blackstone Group 97.1%
  • Citadel Investment Group 96.1%
  • Millennium Partners 95.1%

Professional Growth Opportunities

July 2026 Hedge Fund

  • AQR Capital Management 99.0%
  • Point72 98.1%
  • D.E. Shaw 97.1%
  • Citadel Investment Group 96.2%
  • Magnetar Capital 95.2%

Total Avg Compensation

July 2026 Hedge Fund

  • Portfolio Manager (9) $1,648
  • Vice President (27) $464
  • Director/MD (12) $423
  • NA (9) $320
  • Engineer/Quant (86) $288
  • 3rd+ Year Associate (26) $284
  • Manager (4) $282
  • 2nd Year Associate (32) $253
  • 1st Year Associate (77) $191
  • Analysts (242) $181
  • Intern/Summer Associate (29) $145
  • Junior Trader (5) $102
  • Intern/Summer Analyst (282) $96
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
kanon's picture
kanon
99.0
4
Secyh62's picture
Secyh62
99.0
5
Betsy Massar's picture
Betsy Massar
98.9
6
CompBanker's picture
CompBanker
98.9
7
dosk17's picture
dosk17
98.9
8
GameTheory's picture
GameTheory
98.9
9
DrApeman's picture
DrApeman
98.9
10
Mimbs's picture
Mimbs
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...”