So I was talking to a friend's friend last Friday during happy hour. He's a trader at one of the top HF and his firm just promoted a newbie from BO to a junior trader on his desk. The newbie is from a semi-target, he's obviously smart, but this is just incredibly lucky.
What do you guys think? How often does this happen?
ALSO, I'm very curious about this, how many non-targets actually make it into FO? Personally, I don't know any, but that's probably just because my network isn't strong enough...
What type of BO role? That makes a huge difference, e.g. trade support vs. some random IT role
Also as a side note, how the heck do you find BO HF roles?
accounting...
and isn't trade support considered MO?
You have too little information to assume that he made the transition purely through luck. Since he's a friend of a friend, I'm sure he didn't tell you about the specific efforts he made to increase the likelihood of moving to an FO position.
One of my colleagues at the hedge fund I intern at worked in trade support but was able to switch to a trading team after networking heavily and leveraging his existing contacts. The tradeoff is that he has to commute from Manhattan all the way to the Greenwich office everyday.
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