is it possible to break into macro HFs as an econ major in today's regime? Been trying the stats/cs stuff and I am just not as passionate about it. If I can code at a basic level, do econometrics, should I be ok after S&T? Curious if I should still consider this an option or look to elsewhere (distressed, equities, etc.)
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Based on the most helpful WSO content, breaking into a macro hedge fund as an econ major is definitely still possible, even if you're not a quant. Your background in economics and econometrics, coupled with basic coding skills, can be quite valuable in a macro HF environment. Here's why:
However, it's important to note that the hedge fund industry is highly competitive, and many funds do prefer candidates with a strong quantitative background. You should also consider the current trend towards quantitative strategies, as mentioned in previous WSO threads. Qualitative macro strategies are not as dominant as they once were, and there's a shift towards more quantitative approaches.
To improve your chances, you might want to:
As for considering other areas like distressed or equities, it would depend on where your interests lie and where you feel your skills are best suited. Each area has its own set of challenges and requires a different skill set. If you're more passionate about macroeconomic analysis and less about quantitative analysis, then macro HF could still be a good fit for you.
Sources: Breaking into global macro, Macro HF Interviews: Paul Tudor Jones, Louis Bacon and Bruce Kovner, Q&A: Head of Macro Strategy at Hedge Fund Taking Questions, Q&A: First year macro hedge fund analyst, Is nowadays a PhD compulsory to break into HFs?
Buuuuump
Yes. Old school global macro still exists.
Proof/source: Me.
I replied to some posts in recent months about them - check the comments and PM if u r serious.
it is, have seen loads of people who do not have a quant background but it is definitely a plus.
In addition, graduate econ involves coding, optimization problems so it would be easy to pick up new concepts..
I think the most important thing is econometrics and coding.. CS tends to be too theoritical at times which is less relevant if your job requires you to code, ping APIs and some scraping at best.
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