1st IB analyst - Entering the HF Industry (SM / Tiger Cub) any advice to find opportunities
Currently at a great bank that is a sweatshop and from day 1 I knew coming into this I want to do L/S equity.
I’ve already been in contact with headhunters and have began relationships and have stayed in touch with the corporate development team at Point 72. Obviously given that I’m only going on month 7 of my first year they usually like analysts with a little more of experiences which I totally understand. They say they will be reaching back out soon and headhunters / people in the industry say my resume screens great with equity research internships as well.
What I want to ask is - is there a way to put myself out there at this point? Maybe smaller hedge funds SM - is there a database? I practice modeling, have a couple stock pitches to knock people socks off, really just want to put my foot on the gas pedal and have no interest in staying in banking.
I love stock picking and following the markets and have no doubt L/S equity is what I want to do. I just want to play my cards right and move closer towards my career goals - would love any advice
If you have pitches that will knock people's socks off, as you say, then network with people and get an interview. Network with the senior analysts, PMs are SMs and include your pitch in the networking email. If they are impressed and have an opening, then you should be good. Otherwise, wait until hiring picks up in 1Q and then showcase your skills during the interviews. Can't think of any platform that has a list of funds looking to hire and will look at your pitch first. You could post on VIC and the other sites to practice in the meantime.
Based on the most helpful WSO content, here are some steps you can take to position yourself for opportunities in the L/S equity hedge fund space:
Networking: Continue to build and leverage your network. This includes reaching out to alumni from your university who work in hedge funds, attending industry events, and connecting with professionals on LinkedIn. Personal connections can often lead to job opportunities that are not advertised publicly.
Headhunters: Maintain and expand your relationships with headhunters who specialize in hedge fund placements. They can be key in getting your foot in the door, especially at smaller funds that may not have formal recruiting processes.
Research and Pitching: Keep honing your stock-picking skills. Your ability to generate compelling stock pitches is crucial. Consider starting a blog or an investment newsletter where you can share your investment theses. This not only showcases your analytical skills but also your passion for the markets.
WSO Resources: Utilize resources like the WSO Hedge Fund Interview Prep Pack to prepare for interviews. This can give you an edge by familiarizing you with the types of questions you'll face and the level of knowledge expected.
Online Presence: Establish a professional online presence. This could be through a LinkedIn profile that highlights your skills and experience, or even a Twitter account where you share market insights and engage with the finance community.
Educational Content: Continue your education in financial modeling and market analysis. WSO offers courses that can help you sharpen your technical skills and deepen your understanding of hedge fund strategies.
Smaller Funds: For smaller hedge funds, there isn't a centralized database, but you can use the WSO Company Database to research and target specific funds. Additionally, you can look into industry publications and directories that list hedge funds by size and strategy.
Remember, persistence and patience are key. It's a competitive industry, but with a strong skill set, a proactive approach, and a bit of networking, you can make significant strides towards your goal. Keep learning, keep connecting, and keep pitching!
Sources: Hedge Fund: The Investment Life Cycle, Starting a small hedge fund, Planning to launch a small scale Hedge Fund., List of value based/high concentration Hedge Funds in Bos/NYC/CHI/SF?, New funds that are killing it?
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