What is the best path for me as MBA student to HF

To break into hedge funds (HF) as an MBA student, especially with your background, here’s a structured plan based on the most helpful WSO content:

1. Leverage Your MBA Network

• NYU/CBS Advantage: Both schools have strong finance networks, particularly in New York. Use alumni connections aggressively. Reach out to alumni in hedge funds, equity research (ER), and investment banking (IB) for informational interviews.
• Clubs and Events: Join the investment and finance clubs at your MBA program. Attend HF-specific events, speaker series, and competitions to meet professionals and recruiters.

2. Target Hedge Funds Directly

• Direct HF Recruiting: While IB is a common feeder into HFs, some funds recruit directly from MBA programs. Focus on funds that value stock-picking skills and fundamental analysis, as your personal investing track record and modeling experience align well with these roles.
• Networking: Hedge fund recruiting is heavily relationship-driven. Build relationships with professionals at funds you’re targeting. Use LinkedIn, alumni databases, and industry events to connect.

3. Consider Equity Research as a Stepping Stone

• ER as a Pathway: Given your interest in financial statement analysis and your prior attempts to break into ER, this could be a viable stepping stone to HFs. ER roles allow you to hone your stock-picking and modeling skills, which are directly transferable to HF roles.
• MBA Recruiting for ER: Use your MBA to target ER roles at top firms. Highlight your CFA progress, personal investing success, and passion for markets in interviews.

4. Investment Banking as a Backup Plan

• IB Structured Recruiting: If direct HF or ER recruiting doesn’t pan out, IB is a solid backup. Many HFs recruit from IB, especially for roles requiring transaction experience or deep industry knowledge.
• Focus on Relevant Groups: If you go the IB route, target groups like M&A or industry-specific teams (e.g., TMT, healthcare) that align with HF strategies.

5. Build a Strong Investment Track Record

• Stock Pitches: Develop a portfolio of stock pitches to showcase your analytical skills. These should include detailed models, investment theses, and clear risk/reward scenarios.
• Competitions: Participate in stock pitch competitions or investment challenges at your MBA program to gain visibility and refine your skills.

6. Complete the CFA

• CFA Progress: Completing the CFA will strengthen your credibility, especially for ER and HF roles. Aim to finish it by the end of your MBA as planned.

7. Tailor Your Story

• Craft a Cohesive Narrative: Your background in accounting, portfolio work, and personal investing is unique. Frame your story around your passion for markets, analytical rigor, and proven ability to generate alpha.
• Address Gaps: Be prepared to explain why you haven’t landed ER or HF roles yet and how your MBA, CFA, and networking efforts are positioning you for success now.

8. Target Smaller Funds

• Boutique HFs: Smaller funds may be more willing to take a chance on someone with a non-traditional background. These funds often value passion and stock-picking ability over pedigree.

9. Stay Persistent

• Rejection is Part of the Process: Your journey so far shows resilience. Keep refining your approach, learning from feedback, and expanding your network.

By combining your MBA resources, CFA progress, and demonstrated passion for investing, you can position yourself strongly for HF roles. If direct HF recruiting doesn’t work out immediately, ER or IB can serve as effective stepping stones.

Sources: How MBA Is Not a Magic Bullet to Public Equity Investing, The rise of business development roles in the industry, Q&A: Equity Research Associate at a Boutique Firm, Future of Equity Research - 12+ Months into MIFID II, https://www.wallstreetoasis.com/forum/equity-research/career-ladder-equity-research-vs-investment-banking-a-definitive-guide-part-3?customgpt=1