IB >>> HF FT Recruiting Questions
Hey monkeys,
In college right now at a Semi-Target. Didn't know much about finance coming into college, but got exposed to what banking was in freshman year, then during my sophomore year, networked and prepped my ass off during recruiting and was lucky enough to land a spot at a top BB/EB in one of their top groups for this upcoming summer; however, IB has never been the end goal, and after experiences in the industry, not as interested in UMM/MF PE either.
For me, I am really interested in working at a hedge fund, (Not super set on any kind of strategies, have looked at L/S, LO, Activist, or any non quant/PHD level math focused kind lol, not entirely sure what all that includes) but it's been really hard to find info on recruiting, timelines, etc., online or at my college (I know it's a lot less structured than IB/PE recruiting). I have 3 main questions for all of you out there who know a lot more than me.
- Is there any active recruiting for FT in the HF space, or would the best move be go FT in IB, then focus on transitioning from there when opportunities arise? Or are there even possibilities to enter without years in IB + PE?
- Would the best approach to finding out more information be cold emailing/LinkedIn messaging industry professionals, starting now, to build relationships and gain more advice and info?
- What can I do now to build skills that would be useful there? Any books you all recommend, modeling exercises, stock pitches, etc.
Thank you all for your help!!
Based on the most helpful WSO content, here’s what you need to know:
Active Recruiting for FT in the HF Space:
Networking and Building Relationships:
Building Relevant Skills:
By focusing on these areas, you’ll position yourself well for a future transition into the hedge fund space. Good luck!
Sources: The Hedge Fund Experience - Good, Bad, Ugly, Advice on HF Recruiting, Transitioning from IB/ER to HF Series - Part 2: Where to Interview and Behaviorals, https://www.wallstreetoasis.com/forum/hedge-fund/the-hedge-fund-experience-good-bad-ugly?customgpt=1, Networking into a Hedge Fund? It's Unstructured.
Bumping cuz im an an1 top group at bb looking to jump to buyside too so curious what i val also be doing?
Do stock pitches and be good at modelling. Don’t walk into a pitch spending 10 minutes talking about the business and the industry and the management team. Keep it succinct, to the point, what’s changing, where’s the street, what’s the debate etc
Thank you for the advice! Would you be open to PMing about more specifics regarding building skills in the HF space, as well as questions around different styles of HF investing?
Ask your questions here. There’s no secret sauce im going to give you in PMs and I doubt I’ll say anything that hasn’t been stated on this forum before
How deep and extensive does the modeling have to be (ie unique unit economics / insights delved deep into etc…). Feel like I’m solid on finding the catalysts and due diligence research to verbally describe the mis pricing in the stock and show a decent amount of it in the model ie the levers of margin expansion and growth not being factored in despite fundamentals of the business being robust, but the ad hoc excel analysis is where I get really tripped up. Haven’t done a formal stock pitch competitions (aside from investment clubs at my school before graduatuon) but can speak to why I think there are value drivers not being factored in etc… worried about falling face flat when interviews for Hfs come around. Haven’t gotten a taste of it yet. Is there any in general that the Farallons, mavericks ands eminences of the world push you hard on?
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