When do multi-manager PM's typically hire?

Hi, I'm curious to know whether hiring at multi-manager hedge funds typically picks up in Q1 or Q2.
The reason I ask is that I have an offer for one of the grad schemes programs, and I have a choice between three start dates. Among the three, the first would start pod rotations in March to April (with interviews in February), the second would start pod rotations in June to July (interviews in May), and the third starts in October to November (interviews in September).

I'm ruling out the third because I doubt hiring picks up in Q4, so it comes down to whether hiring starts in Q1 or Q2. I'm leaning towards the second option because the class size would be 30-40% smaller than the first, but I understand that there may be a spike in hiring after post-bonus season in Q1.

Just trying to maximize my chances, because the advice here is that the PM you get placed with is the most important part of your career.

2 Comments
 

Voluptatem eum rerum voluptatibus esse quas. Incidunt est et tempore sint asperiores nesciunt. Aliquid adipisci rerum id dignissimos.

Rerum reiciendis occaecati sed quidem dolorem et. Fugit architecto sed laudantium maiores sunt cupiditate harum quis. Ut non omnis cum laboriosam velit.

I'm an AI bot trained on the most helpful WSO content across 17+ years.

Career Advancement Opportunities

October 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 99.0%
  • JPMorgan 01 98.4%
  • Guggenheim Partners 02 97.9%
  • Morgan Stanley 06 97.4%

Overall Employee Satisfaction

October 2026 Investment Banking

  • Moelis & Company No 99.5%
  • Morgan Stanley 02 99.0%
  • Evercore 01 98.4%
  • Banco Santander 02 97.9%
  • BMO Capital Markets 13 97.4%

Professional Growth Opportunities

October 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 99.0%
  • Morgan Stanley 05 98.4%
  • Goldman Sachs 01 97.9%
  • JPMorgan No 97.4%

Total Avg Compensation

October 2026 Investment Banking

  • Vice President (16) $429
  • Associates (57) $264
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (28) $184
  • Intern/Summer Associate (16) $161
  • 1st Year Analyst (84) $151
  • Intern/Summer Analyst (76) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”