Sophomore Gigs

Landing a sophomore L/S (Long/Short) gig can indeed be challenging, but based on the most helpful WSO content, here are some actionable tips to improve your chances:

1. Networking is Key:

   • Start reaching out to alumni and professionals in the industry. Focus on building strong relationships with a few key people rather than trying to connect with everyone.
   • Grab coffee chats with second-year students or alumni who have experience in L/S funds. They can provide insights into firm-specific interview processes and idiosyncrasies.

2. Cold Outreach:

   • Be prepared to send out hundreds of cold emails to smaller funds, boutiques, and even regional firms. Persistence is critical, as many opportunities are not widely advertised.
   • Tailor your emails to highlight your pitch competition experience and genuine interest in L/S investing.

3. Pitch Practice:

   • Since 50% of interviews for L/S roles revolve around your stock pitches, refine your ability to present 2-3 strong ideas.
   • Have at least two long ideas and one short idea ready, and be prepared to discuss them in detail.
   • Practice answering questions like "What's in your PA (personal account)?" and ensure you can talk high-level about additional stocks.

4. Leverage Competitions:

   • Highlight your success in pitch competitions on your resume and during networking conversations. This demonstrates your ability to analyze and present investment ideas effectively.

5. Timing and Persistence:

   • Many L/S funds have limited seats and may already be done recruiting, but don’t let that discourage you. Keep following up with contacts and firms periodically.
   • If you don’t land a sophomore gig, use the time to build your skills (e.g., financial modeling, valuation) and network aggressively for junior year opportunities.

6. Consider Alternatives:

   • If L/S roles are scarce, look into internships at other buy-side firms, boutique investment banks, or even corporate finance roles. These can still provide valuable experience and set you up for L/S recruiting later.

Remember, the hit rate may be low, but persistence, preparation, and networking can make all the difference. Good luck!

Sources: Post-MBA Recruiting At Top Asset Managers / LOs, Can we get a list going of sophomore summer 2019 programs/internships? (Confused), Low GPA, trying to get my foot in the door. What do I do?, What do sophomores usually do for internships?, 2018 Sophomore Summer Analyst Recruiting Megathread Page