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Really depends on the investment strategy the hedge fund operates. Macro hedge funds tend to largely hire from macro sales and trading desks (interest rate, FX, commodities in general, credit to some extent, and their sub-desks e.g. EUR IR swaps or G10 FX options or Scandi-STIR etc.) with preference towards traders. Vol arb HFs might recruit more equity derivatives people ranging from single stock to index derivatives traders and salespeople. Multi-strategy hedge funds mostly look for investment bankers and equity research analysts for their long/short equity books but they also run index arb, convertible bonds, structured credit, and macro books that have their own preferences (index arb might look for equity traders, credit books look for people from credit trading desks, structuring, or capital markets teams). HFs operating within systematic strategies probably look mainly for S&T quants.

There are other HF strategies not included here but these are probably the most common ones that came to my mind.

 

Equity / Credit Indices should also be included in the macro section! 

There's also structured credit desks for those corresponding (ABS, CMBS etc) funds.

Was obsessed with finance, now do product in tech
 

MBA won't help at all. You'd move to a hedge fund by being good at your role in macro S&T. A trader who has very strong relationships with hedge fund clients (you move to your clients) has the best chance from what i've heard.

Array
 

Like @benjokal previously said, MBA is quite useless if you want to work within macro strategies. Long short equity funds might be more willing to hire an MBA grad with say IB background pre-MBA but macro hedge funds will see that as simply pointless degree. You'd be better off spending those years learning more about the products and the markets in S&T.

 

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I used to do Asia-Pacific PE (kind of like FoF). Now I do something else but happy to try and answer questions on that stuff.

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