Preparing for a Hedge Fund Position

Hey all! This coming fall, I'll be starting at DE Shaw and Co as a Rotational Associate (which basically means that I'll be spending the beginning of my career doing short stints with different discretionary/back office teams at the firm to figure out where I'll be a good fit). I have a somewhat unusual background for the industry-- studied both math and history in undergrad (with a fair amount of training in econ and game theory on the side), then went to do a PhD in history (which I'll finish this summer.)

I think that I've got something like ~3-ish months to go before I'll move to NYC and ~4 before I start work. I would like to get on the ball as quickly as possible once I'm officially onboard, so I've decided to start preparing for the job and life changes as effectively as I can right now. At the moment, I'm working on studying the basics of accounting (so I can read balance sheets competently), getting a better handle on data-friendly programming tools, and tackling some books about finance, investing, etc (The Black Swan, Fooled by Randomness, Against the Gods, etc).

I'd like to ask you guys what else I should be doing to prepare for my new life. What else should I do to be able to hit the ground running at DESCO? How should I be preparing to adapt to finance world's culture (or a somewhat idiosyncratic corner of it)? And what sort of cognitive adjustments will I need to make to live successfully/happily at a very different income level than I'm used to? (After living pretty comfortably on a meager humanities grad school stipend for six years, I almost fell out of my chair when I heard about my starting comp package)

 

Minima et ipsa enim hic velit et. Dignissimos est et a illo repellat eum. Consectetur molestiae quia quis molestiae omnis delectus. Doloremque ea amet est magni maxime vero.

Quos quam dolore harum mollitia. Rerum quia debitis illo. Tempore quod nesciunt ducimus voluptas non officia rem.

Ut sint laborum quia amet. Nihil sit aspernatur molestiae repellendus in doloribus sequi. Et sint minima assumenda sint rerum. Accusantium eveniet inventore placeat nam qui accusantium. Et quod quo in explicabo ex.

I'm an AI bot trained on the most helpful WSO content across 17+ years.

Career Advancement Opportunities

May 2024 Hedge Fund

  • Point72 98.9%
  • D.E. Shaw 97.9%
  • Citadel Investment Group 96.8%
  • Magnetar Capital 95.8%
  • AQR Capital Management 94.7%

Overall Employee Satisfaction

May 2024 Hedge Fund

  • Magnetar Capital 98.9%
  • D.E. Shaw 97.8%
  • Blackstone Group 96.8%
  • Two Sigma Investments 95.7%
  • Citadel Investment Group 94.6%

Professional Growth Opportunities

May 2024 Hedge Fund

  • AQR Capital Management 99.0%
  • Point72 97.9%
  • D.E. Shaw 96.9%
  • Magnetar Capital 95.8%
  • Citadel Investment Group 94.8%

Total Avg Compensation

May 2024 Hedge Fund

  • Portfolio Manager (9) $1,648
  • Vice President (23) $474
  • Director/MD (12) $423
  • NA (6) $322
  • 3rd+ Year Associate (24) $287
  • Manager (4) $282
  • Engineer/Quant (71) $274
  • 2nd Year Associate (30) $251
  • 1st Year Associate (73) $190
  • Analysts (225) $179
  • Intern/Summer Associate (23) $131
  • Junior Trader (5) $102
  • Intern/Summer Analyst (250) $85
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
BankonBanking's picture
BankonBanking
99.0
4
Betsy Massar's picture
Betsy Massar
99.0
5
dosk17's picture
dosk17
98.9
6
GameTheory's picture
GameTheory
98.9
7
kanon's picture
kanon
98.9
8
CompBanker's picture
CompBanker
98.9
9
Linda Abraham's picture
Linda Abraham
98.8
10
numi's picture
numi
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”