HF Associate Program Exits

Started in a grad scheme at one of the big HFs (think Citadel/DE Shaw/Millennium) for L/S investing out of undergrad. I'm worried about getting an actual seat out of the program because there are always a few every year who don't match. Where do I look? When do I start looking? Do I just do my absolute best in my year and ignore recruiting until I'm 2-3 months out from the end of the program?

My background is more STEM (Math/tech bg) than finance, so I don't know how many looks from HH and similar-caliber firms I could get. I've narrowed down my areas of interest to growth equity and other public equities roles - not picky on sector but consumer and tech would be ideal.

Do I have to go back to the sell-side for more substantive experience, or move down to a smaller shop? I know the hiring market is also terrible rn, wonder if timing to Q2 2024 will be better?

3 Comments
 

What I have seen:

  • Join another HF and be recruited by a PM there (best case scenario - you were a fit for the industry but no pods at your home shop were hiring)
  • Join another team internally (seen in p72, going from investment grad scheme to an internal proprietary research role or into the private investments team)
  • Grad school (law school etc)

haven’t seen sellside moves

 

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