HF after undergrad?

My ultimate goal is to work as a fundamental analyst at a large hedge fund, and will be attending a "borderline" Canadian target. Would it be better to start off in a smaller, less reputed fund and work at it for 2-3 years, or is it better just to stick to a sell-side IB role and then make the transition? Also, is it generally easier to break into a lower-tier HF than it is to IB? Thanks in advance.

4 Comments
 
Most Helpful

There may also be the option to start off in a large MM L/S equity in the US. Point72 has the Point72 Academy, which is a structured program which recruits students out of undergrad and trains them with the hope that they will eventually work as an L/S analyst on one of their fundamental equities teams. They are also quite open to hiring from Canadian schools, (quick Linkedin search can confirm this). Additionally, Citadel has started the Citadel Associates Program, which is similar to the Point72 Academy. It is newer (I believe 1-2 years old) so I am not sure if they hire from Canadian schools as well. Finally, D.E Shaw's Fundamental Equities will also hire undergraduates out, and are open to hiring from Canadian schools. However, to get the summer internship interview (you need to do the internship to get FT), you typically need some kind of previous IB, AM, ER or other HF internship on your resume. 

 

Et accusantium repellat rerum asperiores. Blanditiis perspiciatis molestias aut omnis et officiis qui. Autem odio odio tempore nihil voluptatem laboriosam.

Reiciendis eligendi iure voluptate velit. Voluptatibus repellat quasi harum. Laborum nulla quos qui. Sit ipsum nesciunt sunt facere libero sit aut. Similique vitae qui dolorem minima voluptatum veritatis reiciendis.

Quasi magni molestiae qui consequatur amet minus. Pariatur harum ullam nostrum tempora. Id quia harum esse rem necessitatibus.

Quidem voluptatibus et totam quidem aut odit dolorum pariatur. Soluta voluptatem quia aut placeat. Dolores qui distinctio quia ipsa adipisci. Nam et ratione deleniti quam adipisci atque ea quis.

Career Advancement Opportunities

September 2026 Hedge Fund

  • Point72 99.0%
  • D.E. Shaw 98.0%
  • Citadel Investment Group 97.0%
  • AQR Capital Management 96.0%
  • Magnetar Capital 95.0%

Overall Employee Satisfaction

September 2026 Hedge Fund

  • Magnetar Capital 99.0%
  • D.E. Shaw 98.0%
  • Blackstone Group 97.0%
  • Citadel Investment Group 96.0%
  • Two Sigma Investments 94.9%

Professional Growth Opportunities

September 2026 Hedge Fund

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

Total Avg Compensation

September 2026 Hedge Fund

  • Portfolio Manager (9) $1,648
  • Vice President (27) $464
  • Director/MD (11) $372
  • NA (9) $320
  • Engineer/Quant (83) $287
  • 3rd+ Year Associate (26) $284
  • Manager (4) $282
  • 2nd Year Associate (32) $253
  • 1st Year Associate (76) $193
  • Analysts (234) $178
  • Intern/Summer Associate (29) $145
  • Junior Trader (5) $102
  • Intern/Summer Analyst (276) $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
Betsy Massar's picture
Betsy Massar
98.9
6
GameTheory's picture
GameTheory
98.9
7
DrApeman's picture
DrApeman
98.9
8
CompBanker's picture
CompBanker
98.9
9
dosk17's picture
dosk17
98.9
10
numi's picture
numi
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...”