Time off school to work at a HF?
Potentially have the opportunity to work at one of the big platforms in L/S for (up to) a year but would require I take a gap year next year and delay my graduation. I'm currently on a year out already due to personal circumstances so this would mean I end up taking 2 years out of school.
I've done a previous MMHF SA and will be interning in SS ER this summer; doing the year out to work at the MMHF would mean I can't accept a return offer from the bank unless they let me defer it. Its unlikely the PM would give me return offer after a year since i'd have to go back to school to graduate.
I'm trying to weigh up how useful a year of working at a Citadel-type shop for a year is with no return prospects vs just getting on with graduating and working in SS ER. Might be the only time I can work at an MM and focus on learning with no career stress given I have to go back to school after anyway. I'm quite interested in how a year at a fund would be perceived, would it be a big help in applying to openings at MMs as a grad/aid massively when trying to move over from the sellside or would it be largely discounted as "internship experience". Thank you
Based on the most helpful WSO content and insights from various threads, taking a gap year to work at a hedge fund (HF), especially one as reputable as a Citadel-type shop, can be a significant opportunity that could positively impact your career in finance. Here are some considerations to weigh based on similar discussions and advice shared within the WSO community:
Unique Experience at a Prestigious HF: Working at a top-tier hedge fund, even for a year, can provide invaluable experience, exposure to high-level investment strategies, and a deep dive into the workings of the hedge fund industry. This experience is highly regarded in the finance world and can set you apart from peers.
Impact on Future Opportunities: Having a big-name hedge fund on your resume can be a strong leverage point when applying to full-time positions, whether in hedge funds, sell-side equity research (SS ER), or other areas within finance. It demonstrates your capability to work in a high-pressure, competitive environment.
Networking and Learning: The opportunity to network with professionals at a top hedge fund can open doors in the future. The learning curve at such firms is steep, and the experience gained can be a solid foundation for your career.
Consideration of Return Offers: While you mentioned the concern about not being able to accept a return offer from the SS ER internship if you take the gap year, it's worth considering the long-term benefits. Some firms may be flexible with deferrals, especially if they value the unique experience you're gaining.
Transitioning Back to School: After working in such an intense environment, transitioning back to academic life might require an adjustment period. However, the experience and insights gained could enrich your academic pursuits and future career decisions.
Perception as Internship Experience: While you're concerned about the year at the fund being perceived as "just an internship experience," the reality is that experience at a top hedge fund, especially in a substantial role, is highly valued. It's about how you leverage and articulate this experience in interviews and on your resume.
In conclusion, based on insights from the WSO community, taking a gap year to work at a top hedge fund could be a highly beneficial move for your career, offering unparalleled experience and networking opportunities. It's important to weigh these benefits against the delay in graduation and potential challenges in transitioning back to academic life. Ultimately, such a decision should align with your long-term career goals and personal circumstances.
Sources: Where does ER go from here?, Q&A: 3rd year ER analyst, Getting an S&T Return Offer - A Survival Guide for Future Interns, Top 10 Undergrad, Top 10 MBA... Unemployed 3 months, 2 not great offers to decide between, A warning to those aiming for Sell Side Equity Research
Bump
If you've done summer at a similar shop before don't see much incremental value add of doing this especially if you're giving up a return offer?
Good point but I imagine an 8/10 week SA doing odd jobs when I knew next to nothing would be less impactful compared to working as an actual analyst for 6m+?
Generally leaning towards not doing it though, thank you.
Try to negotiate for winter and summer internships in lieu of a full year. I wouldn't take a full year off unless your outside commitments require it.
Thanks for the response; found out recently that I have an 8-month gap after finals and the start date for FT if i convert. Would be an ideal time to do the placement but feels pointless to pitch that to the PM now given its 14m away?
I'd personally go back to school, return offer in hand
thank you
That's just my opinion btw, idk anything else about your personal situation. I suggest you talk to your mentors if you have any, for advice, instead of just asking on a forum. Good luck man, you've done well, keep grinding for better days
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why can't you do it part-time while at school?
Haven't pitched it as I'm just not sure how well it would go but I'm thinking about it more. The only issue I foresee is that my degree is brutal in my final year and requires multiple full days in the lab. I imagine if I try to balance them I'll just do poorly in both but definitely worth thinking about.
I was in the exact same situation during my sophomore year. Chose to intern part-time there and I did it in a hybrid mode (only 1 day in the office every week), so my school work was not that affected, although I did nearly spend my all weekend studying.
It is definitely worth pitching to the team. Also try to negotiate your office onsite schedule once you get comfortable with the team/work so that you don't need to commute crazily.
I would work at the L/S but I’m not sure I understand why you can’t continue working there? Just never graduate if that’s an option?
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