Discretionary Trading Summer Analyst Interview
Hello Monkeys,
I just learned I have an upcoming interview for a discretionary trading summer analyst position at a large hedge fund. What would an interview like this entail? Also can anyone who has been a summer analyst at a hedge fund shed some light on what it's all about, exit opps, etc. I've never really encountered an internship program at a hedge fund so I am very curious. I also know that w/o any series licenses I can't really do anything, so I'm interested what the experience will actually look like.
Thanks
Not an expert, but I'm sure the US$32bn gives it away.
What do you mean?
What he means is that there are very few hedge funds of that size and it's relatively easy to narrow down which firm you're referring to, especially since I can only think of one company that regularly takes proprietary/discretionary trading interns. D.E. Shaw?
If you're interviewing there you should read up on the company culture on this site. From what I understand it's very different than your "typical hedge fund", if there is such a thing.
Good point I removed the AUM so this will be more anonymous
its too late, someone already mentioned $32 billion
5 replies and only one of them half tries to answer your question, wow.
You just made it 6.
8 you mean.
So does anyone know what to expect though? I will be interviewing with the equity desk.
Did my summer analyst gig at a very large L/S HF (it's one of those HFs always mentioned in WSO) for around 12 weeks. Interviews were standard banking but became more consulting-ish as I went through the rounds (kind of like Blackstone interviews). My position was on the investment team but I literally worked with everyone, from sales, risk and ops to looking up ideas for my PM. I'm not sure if this is standard at HFs but that was the case for me.
Needless to say, I didn't get a return offer because the HF has never taken someone out of school as an analyst. But they did help me with recruiting and my transition to another HF of similar size as an analyst was entirely due to them.
The experience will be very different to banking/consulting because there's less people, restrictions and hierarchies, and more value-add expected from day one. Due to the headcount I'd expect a lot more admin work than at other places especially at a junior level.
If BlueCrest is the fund you are referring to, I went through the interview process with them last year and from what I gathered the position would have been a similar structure to what SonnyZH described. By that I mean working with all teams but also focusing a lot on risk modeling (judging by the questions they asked in the interview).
Brevan Howard.
Know your rates stuff cold.
Discretionary Trading Internship Interview (Originally Posted: 03/18/2015)
Hi all, I have an interview coming up for discretionary trading for an internship position this summer at a leading hedge fund. I do not know much about it. I was wondering if anyone would be willing to spare a few minutes walking me through what I could expect and how I could prepare for this interview. I would really appreciate your help, and award you with SB.
What's the strategy? What do you know thus far about the fund? There really isn't a one way approach to a hedge fund interview. You may see anything from basic fit questions to questions about your future goals to capital markets questions to weird technical or trick questions like "which is greater: 17% of 34 or 34% of 17?". Are they requiring you to prepare a presentation of some sort at all?
Hugely depends by fund strategy/culture. I work at at a HF in a discretionary role and spend a decent amount of time interviewing people, so feel free to PM if you dont want to divulge on the board
But in general you need to have the following bases covereD: -Technicals for whatever product you are interviewing for -General market knowledge (whats going around the world in different markets) -brainteasers (these can be practiced, ignore prep for these at your own peril) -Behavioural
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