Q&A: Hedge Fund Analyst Out of Undergrad
Background: Target school, studied engineering. Summered at a multi-billion $ hedge fund doing fundamentals l/s and currently at another multi-billion $ hedge fund full-time. Willing to answer anything that does not have to do with my personal past experiences (to preserve anonymity).
Varies based on group performance and market conditions. However, junior levels tend to be less discretionary so a lower % of pay is based on performance. Ratio skews towards performance as you move up. Most good places vary from $150K to $200K for Y1 out of undergrad all-in compensation. Holds true for both single and multi in the initial years. Holds true for multi and single-manager. Multi starts to vary a lot more in Y2 and Y3 based on individual performance, group performance, fund performance, and relationship with PM.
Recruiting process for me was OCR + typical preliminary interview(s) and then superday. Questions were fit/interest in investing-related, accounting-related, or involved pitching.
The only fundamental HF I know of that consistently hires undergrads pays north of $200k. Probably varies a ton from place to place.
"summered"