Saw a kid from a non-HYPSM top target work in S&T, IR, and IB in three different summers and then go straight to SM.
is this even possible or attainable for most or is this nepo or something?
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Based on the most helpful WSO content, going straight to a single-manager hedge fund (SM) out of college is rare but not impossible. It typically requires a combination of exceptional credentials, relevant experience, and strong networking. The individual you mentioned likely had a highly strategic approach to internships (S&T, IR, and IB), which provided a well-rounded skill set and exposure to the buy-side.
Key factors that could make this attainable for some: 1. Top-Tier Education: Coming from a non-HYPSM but still a top target school suggests strong academic credentials and access to elite recruiting pipelines. 2. Relevant Internships: The progression through S&T, IR, and IB internships demonstrates a clear focus on building skills applicable to hedge funds, such as market knowledge, investor relations, and financial modeling. 3. Networking: Networking is critical in landing such roles. Connections made during internships or through alumni networks can open doors to SM opportunities. 4. Exceptional Performance: Standing out during internships and interviews is essential. Hedge funds often look for candidates with a demonstrated passion for investing and a strong understanding of markets.
While nepotism ("nepo") could play a role in some cases, the described path is achievable for those who strategically plan their internships, leverage their network, and excel in their roles. However, for most, the more common route to SMs involves gaining experience at investment banks, asset managers, or other buy-side firms first.
Sources: , How do I land a role at a commercial firm (JLL, CBRE, etc.) from scratch at 26?, Q&A: GS/MS IB Analyst —> Megafund PE Associate —> HBS/GSB Business School, , Southern Methodist Uni (SMU)
depends on fund, school, and the kid — i believe it’s been possible before but most don’t have direct pipelines so most likely it’s a lesser known SM that has some receptiveness to new grads or more likely it’s nepo
Unless at a really small bank, freshman summer S&T was almost certainly nepo.
That said, the rest is doable.
Sophomore summer S&T to junior summer top IB group to FT at an SM has been done, though obviously difficult.
I do think it's possible but you gotta have pitches ready. There is a guy that did a Q&A thread titled HF out of undergrad. Have a read, it's quite useful.
I am the guy who wrote the thread referenced above:
Definitely possible, I was not a nepo guy but I did have a number of internships and then also wrote some pitches for folks. It's REALLY hard but the MMs now have programs to hire folks sooner... MLP partnership w/ UBS research, P72 academy obviously, think Citadel/Baly have taken a very small # of undergrads. The SMs won't have programs and likely may ignore you but worth a try
Do you think the grad programs are worth it?
Tough to say. Plenty of P72 academy folks have been successful. Seems like the UBS pipeline to MLP is newer... so I don't know....
p72/CAP >> MLP . Baly afaik doesnt have a structured intern/grad program like the others for L/S. any hires are purely pod dependent (if the PM wants an intern/grad)
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