UNSW or Macquarie University (Australia)
Sorry if this is in the wrong section! So as the title says these Unis are in Sydney, Australia. As I'm hoping to have a career in Hedge Funds, I need a bit of advice.
UNSW is a more prestigious (really hard to get into) Uni however Mq is closer for me and its easier to get into. What would you guys do? Do Hedge Funds look at Unis more highly or is it more on the actual candidate?
No one has replied so I'll provide a brief response.
Both universities are represented in the industry, probably UNSW more than MQ. So if you want to take the path of least resistance (read: UNSW), take it. Chances are that you aren't going to go into an HF as a graduate so you need to think about what steps are required before getting there. For example, going into sell-side research (equities or credit) then figuring out how to get into the buy-side.
The fact is that few people care about which uni. If you're going to be interviewed it will be because of your experience, knowledge, reputation, etc. than because you went to the right uni.
On the HF scene, you do realise that the Australian market is pretty small. Well, I hope you do. Most funds are long/short equity; some quant-driven and dribs and drabs in other strategies. It's a big step to go offshore, especially with AM/HF, as you're competing against a big and deep pool.
Good luck
Thanks for your advice!
I know the Hedge Fund scene is very small in Australia. I guess that means I'll have to go overseas in order to get a job with a Hedge Fund after getting a job in sell side.
Don't underestimate the difficulty of getting a job at an offshore HF. Your best bets are either going the b-school and/or coming from the buy-side. Alternatively, you may be dealing with offshore clients on the sell-side and using those contacts, you can network your way in.
If you want to to go offshore don't get too hung up on the distinction between HF and asset managers (such as Fidelity, etc.). Beggars cannot be choosers!
If you do well at UNSW you'll have more access to entry level jobs than you would at Macquarie. Unlikely to enter a HF straight from undergrad. I've never met an IBD or S&T analyst from Macquarie. Doesn't mean it doesnt happen, but especially in Sydney, UNSW and USyd dominate at the analyst level.
Greg Coffey went to Macquarie and even though his retired now. His arguably the best Australian Fund Manager so I understand what your saying but I guess if someone has the ability to run a fund well, it won't matter what Uni they go to they will still get there in the end
It will be hard to get a job overseas in ER without stellar academics. No experience in fund management, but if you don't work in Australia your network will be weaker and your knowledge of local products will be lower than that of someone who has built a career here. As I said, I'm not in this part of the industry so I'm not sure how important those factors are.
I would still urge you to go to UNSW if you get in. Technically nothing is impossible, but if you have solid grades from a top uni, doors open.
Do you think it may be worth looking into to studying abroad? eg London, NY
If you can afford it and get into a target, yes. Though if you're having issues getting into UNSW, I think you'd struggle to get into Columbia or NYU.
what about something in London, like let's say King's College?
UNSW purely for the reputation if you do intend to move out of Australia. On the local scene, you do have many professionals studying part time at Macquarie especially in their Masters program though.
Hedge Funds wouldn't care about which university you go to. I don't think anyone would make it to a hedge fund as an undergraduate job without outstanding connections. However, I do recommend going to UNSW over Macquarie University.
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