senior at HYPSM - accepted a FT position at a RA program at a large equities LO. Was originally shooting for LO/L/S HF out of undergrad but fall recruiting was going so poorly that I took the offer from the LO. should i still be recruiting for analyst positions at HF or wait until my job starts/6 months in etc.?
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Be glad you have a FT gig lined up for after graduation in this economy.
Enjoy the rest of college, and start recruiting after a couple of months at the new shop. Unless something better falls in your lap, one in the hand is worth two in the bush.
"In this economy"?
The unemployment rate is 3%
Finance as a sector obviously isn’t thriving in this economy I think that’s what he means
This is a very tone deaf response. You sure as hell know people are struggling with rising inflation and corporates are laying off people. Yes it doesn’t apply to the MM HF world but in the grand scheme of things, I don’t see what’s wrong with someone referring to the current state being very different from history by use of “in this economy”.
bump
is it a capital/wellington/d&c/trowe/fidelity type shop? pretty solid place to end up if so
not to get too specific but think one level lower, in the $100B-$600B aum range
If you’ve already signed at a place, I would probably focus on learning and networking to set you up for hedge fund recruiting a year or two in. I worked at a LO and hopped over to a hedge fund pretty quickly, but it took a lot of preparation that I got from knowing enough to ask the right questions when at the LO. Being at a LO was also an easy way for me to test ideas with my seniors without any risk. The added benefit is also that most hedge funds don’t have analyst classes whereas RA programs tend to have a good number of kids - helped expand my network earlier on and most of them also ended up at hedge funds.
Alternatively, you can keep recruiting for hedge funds and by all means I’d recommend recruiting whenever a good opportunity pops up, but probably would not let headhunters know you’ve already signed an offer. Personal view though is that the number of good funds that hire out of college are rarer and fewer than once you have one or two years of experience, so you don’t miss much other than maybe couple Gs of pay for a year.
thanks for the thoughtful response! do you have any advice on navigating hedge fund networking? is it mostly cold emailing to set up chats?
Well you went to HYPSM, so reaching out through people you know should probs help. Alumni tend to be friendlier and nicer than cold calling. Hedge fund guys generally tend to value their time immensely, so try to be humble and open minded and curious to learn and try to meet people that are eager to teach. Otherwise there are no real guidelines - I think I read somewhere that the former Och Ziff / Sculptor CEO got a job there because he was a water ski instructor for the firm’s founder’s kids or something.
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