FT Recruiting vs Focusing on the Internship
This is a repost of my earlier post. It's slipped down the threads, but a bunch of people liked it, so it seems that there is interest in the topic. Here is the original post:
Hi everyone, I hope the quarter is going as well as it can be.
I am interning at a HF this summer, and the return rates are fairly low (no return %, basically just exceptionalism). I really love this firm and have been super hyped to finally work there, but I am now faced with the reality of post-grad employment. I've spoken to people on my team, and it seems that I will be working roughly 16 hours each day -- and I've already made peace with the fact that I'll likely work on weekends just to deliver best performance.
Obviously, this schedule is incompatible with FT recruiting, so I'm wondering how you did it when you were interns. Did you just focus on the internship and grinded for the return or recruited while working?
It seems impossible to recruit without undermining internship performance, but the timelines are so early this year that I pretty much have to apply now to have a chance (even though I haven't even started). So it's a chicken-or-the-egg problem: either I grind/maximize chance of return and won't have to recruit or I recruit and end up not maximizing return chance.
Presumably the firms know this? Both the recruiting and the firm I'm interning at. Are the timelines a little more relaxed compared to the internship recruiting?
Sorry in advance if this is a repeat post -- did not immediately see anything similar in the HF section. Thank you all in advance.
Balancing FT recruiting and internship performance is a common dilemma, especially in high-intensity environments like hedge funds. Based on the most helpful WSO content, here’s how you can approach this:
Prioritize the Internship: Your first priority should always be to secure a return offer. As highlighted in multiple WSO threads, the vast majority of FT hires come from the intern class. Firms often expect interns to focus on their performance, and excelling in your current role can significantly reduce the need for external recruiting.
Strategic Networking: If you’re concerned about the low return rate at your HF, start networking early but in a calculated manner. As one WSO user suggested, pre-internship FT recruiting should involve limited outreach (e.g., 10-20 emails per week) to build quality connections without overextending yourself. Focus on groups or firms that align with your long-term goals.
Timing is Key: Many firms recommend reaching out later in the summer when they have a clearer picture of their hiring needs. However, given the early timelines, you may need to balance light recruiting efforts alongside your internship. This could mean dedicating weekends or evenings to applications and networking.
Leverage Your Network: If you have strong connections within your current firm or other firms, use them to gauge hiring timelines and opportunities. Some WSO users have noted that having someone in a group who can advocate for you is critical in FT recruiting.
Be Proactive but Realistic: FT recruiting is often more technical and competitive than SA recruiting. Prepare for technicals and modeling exercises in advance, but don’t let this preparation compromise your internship performance. As one WSO thread emphasized, jumping on complex projects and delivering exceptional results during your internship can make you a standout candidate, even if you don’t secure a return offer.
Understand the Market: The FT recruiting process has tightened significantly in recent years, with fewer spots available outside the intern class. If your HF has low return rates, it’s wise to hedge your bets by applying elsewhere, but do so without jeopardizing your current role.
Ultimately, the key is to strike a balance. Focus on excelling in your internship while making strategic moves in FT recruiting. If you can demonstrate exceptional performance and maintain a strong network, you’ll position yourself well for post-grad opportunities, whether at your current firm or elsewhere.
Sources: How to Navigate FT Recruiting: Learn from My Successes/Failures, My FT Recruiting Process, My FT Recruiting Process, FT recruiting is completely fucked, FT recruiting is completely fucked
This Weiss?
Def is Weiss
No it's an SM in New York
Abdiel?
All that for 10%zzz
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