Which internship is better for moving into top L/S: GS NY ER vs. Dodge & Cox ER
Which one would you choose for moving into a top long/short equity HF for FT (think BAM, Citadel's l/s, DEShaw's l/s, Point72)?
Many thanks in advance.
Which one would you choose for moving into a top long/short equity HF for FT (think BAM, Citadel's l/s, DEShaw's l/s, Point72)?
Many thanks in advance.
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If you can get the FT job at dodge and Cox I would take that over any of the HFs you mentioned there
If you don't mind being in SF as opposed to NY, then go Dodge & Cox. The funds you mentioned are predominantly NY/Chicago, so there is a slight location disadvantage, but I think D&C is a better summer gig than ER at GS in the general sense. A few cautionary notes, however:
Now I can't speak as much to exits to L/S shops -- I think the reason is because the conservative, long-biased, longer-term time horizon mentality they have there isn't particularly conducive to the quicker styles of multimanager L/S shops. Of the list you provided, Shaw fundamental's strategy is the most similar. The rest are decidedly short-term shops.
Edit: you might also want to consider the FT hiring practices of these HFs. To my knowledge, Shaw fundamental and P72 Academy had no FT recruiting channels out of undergrad this year aside from SA (this was not the case in the past, but promotion is becoming increasingly internal). Citadel's Global Equities and Surveyor L/S platforms simply don't hire out of undergrad like their quant research and trading divisions do. Can't speak to BAM, but I imagine that they also source the majority of their FT hires from SA. If anything, if you wanted to move to these shops, you might be looking at 2 years down the line in the worst case scenario.
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