Pre-MBA (CFA 3 Cand.) Long-Only Analyst to Hedge Fund? NYC/CT
Hey guys,
So I'm a long-only analyst with a couple years of experience - pre-MBA and taking the third level of the CFA in June. I got really lucky by landing an analyst role at a value-bent long only shop straight out of undergrad because I do not have a finance degree (average GPA - mid 3's) and did not graduate from a target school. It's generalist coverage with a fund that has a value bend and I understand financials for a multitude of industries since it's really my job. I've had some great calls for my managers the past two years an am still learning, but I'm working very hard and have a knack for this stuff. Getting my MBA is an option at the end of the year but I've been informed it might be wise to wait a couple more years by some experienced individuals in my network.
I am looking to break into a long/short or activist shop and hope to one day lead activist investments and proxy battles - work my current firm doesn't do. How can I go about breaking into a hedge fund role as a pre-MBA candidate? I am thinking that networking will be my best bet and live in the Fairfield County, CT area. Can someone please direct me to some organizations that support networking for financial professionals where I can start rubbing shoulders with the right people in the NYC and CT area? And if anyone else has better ideas, can I please be informed of them too?
Long Only to Hedge Fund (Originally Posted: 11/25/2012)
How feasible is it to work for 2-3 years at a well known investment boutique that is predominantly long only (about 20B AUM) and value-focused and then interview for hedge fund jobs? Do people often make this switch? I am concerned with the pace of career advancement in the long only world and that comp growth will be much flatter. Can anyone speak to this from experience? Thanks a lot for your help.
Typically hedge funds want modeling experience, which is why they like to take analyst from IB programs. As long as you have the skills they want then it's not that odd. Make sure to find out what type of hedge fund it is and their strategy. That'll help you land more interviews.
20b boutiques o0?
Ya, this wouldn't be unusual. The jobs are very similar. These big mutual fund companies spin out analysts all day for hedge funds.
This is exactly what I did. PM me if you want to talk specifics.
Long only to HF...odds? (Originally Posted: 04/24/2014)
Hey guys,
I want to find out how often (if at all) it is for long only PM's or analysts to transition to hedge funds from long only shops.
I'm starting my MBA next year (top 5 program) and want to do fundamental equity investing afterwards. Ideally I want to go straight to a hedge fund right after my MBA but don't think have the skill set/background for it. I have CFA and been at a respectable investment consulting shop for the past three years, so I think I have a good shot at landing an investment analyst position at a long-only shop. Been talking to a lot of current MBA students at the school and they agree.
Welcome your thoughts!
I've seen it happen before so I guess it's not uncommon.
Happens literally all the time
Agree with above but would add that going from L/S to long-only is easier than the other way around, esp. the further along you are in your career. Not impossible of course, but short selling is a different skillset and folks from long-only backgrounds sometimes encounter skepticism (fairly or not).
Agree with this. If you've been at a long-only for 8 years then try to switch to a long/short fund, you're going to get a ton of questions about why you want to add the short-selling aspect to your job description, and you'll have to justify your ability to think about things on the short side a lot differently than you're used to. Moving from L/S to a long-only isn't as difficult, but you might have to prove you're a longer-term thinker depending on the shop.
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