shitpost

Breaking into a place like Pershing Square right out of undergrad is extremely rare and challenging. Based on the most helpful WSO content, here's what you need to know:

1. Pathway to Top Hedge Funds (like Pershing Square):

   • The most common route involves starting at a top-tier investment bank (e.g., GS, MS, or EBs) or a prestigious private equity firm (e.g., H&F, Blackstone, KKR). These roles provide the foundational skills and credibility that hedge funds value.
   • After 2-3 years in IB or PE, you can transition to a hedge fund like Pershing Square.

2. Breaking in Directly from Undergrad:

   • It's not impossible, but it's extremely rare. Hedge funds like Pershing Square typically hire candidates with significant experience and a proven track record in finance.
   • If you're coming from schools like Kelley or UTD, you'll need to stand out significantly. This means:
     • Exceptional GPA: A high GPA signals strong academic ability.
     • Networking: Build relationships with alumni or professionals at hedge funds and top banks.
     • Internships: Secure internships at well-known firms to build your resume.
     • Technical Skills: Demonstrate strong financial modeling and investing skills.

3. Alternative Strategy:

   • If you can't break into a top IB or PE firm, focus on middle-market firms or boutique investment banks. From there, you can lateral into better opportunities.
   • Another option is to target smaller hedge funds or asset management firms to gain relevant experience before aiming for a megafund like Pershing Square.

In short, while the H/M/S → GS → H&F → Pershing Square path is the most traditional and effective, you can still break in with a non-traditional background if you excel in networking, academics, and internships.

Sources: Q&A: GS/MS IB Analyst —> Megafund PE Associate —> HBS/GSB Business School, Unofficial Guide to Texas Target Schools, Advice for undergrads going into IB interested in PE, How many target kids go straight to MF PE?, IU Kelley Prestige