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.

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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. 

 

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