AMA 1st year Equity Hedge Fund Analyst straight out of undergrad

Hi guys,

I'm a 1st year analyst at a L/s equity hedge fund based in NY metropolitan area with around $400mm AUM in a very small office. I got this gig straight out of undergrad (target school, not the best GPA) after 3-4 internships during school. AMA.

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Comments (30)

Jan 11, 2019

Is it remotely possible to land an analyst role there if not coming from banking or pe? 1.5 years out in corp strat.

Jan 11, 2019

I'm not sure what you mean because I landed my job here as an Analyst WITHOUT full banking experience. I had 3 buy-side internships during undergrad (2 of which were part-time, 1 summer internship), applied to more than 300+ firms, interviewed for about 30-50 firms, and was able to finally get a full time position after undergrad.
I was unemployed for about 6 months after graduation, the time which were spent on applying to firms and interviewing.
In the end, I'd say nothing is impossible if you just put in enough effort into it

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Jan 15, 2019

How were you able to find 300+ firms to apply to

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Jan 14, 2019

It's not remotely possible if you're the type of person that doesn't read the very short original post.....

    • 12
Jan 11, 2019

Thanks for the sarcasm. I was assuming his 3-4 internships in college were either ibanking or buyside (which they were based on his comment), so that is why I was saying is it remotely possible without coming from pe or ibanking.

    • 2
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Jan 11, 2019

What's your comp and hours like?

Jan 11, 2019

My comp is base payment of 80,000 paid bi-weekly, with discretionary bonus paid out at the year end. Because I haven't had a full year worth of time here, I'm not sure how my bonus will be like (assuming it will be more than 20-30k).

Hours are very nice, I try to get to work at 8am and leave around 5, with an hour inbetween for lunch. It is very rare that I stay later than 6-7PM.

    • 6
Jan 11, 2019

What does your day to day look like thus far? Are you actually expected to generate ideas or are they more getting you up to speed by working on already existing models/continuing DD on existing/fleshed out positions, etc?

Jan 11, 2019

to be completely honest with you, it hasnt been long since I've started FT at the firm. I'm currently in the phase where I takeover the stuff that my senior analyst has to do (from basic stuff like ordering stuff for the office to looking at 10Qs and Ks and filling out basic free cash flow model.
I get to the office by 8am, and leave around 5-6pm. I come in and read the news on the market and relevant companies for a few hours, get an hour break for lunch, then help out with my CEO or my senior with whatever research they're doing.

    • 1
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814 questions across 165 hedge funds. 10+ Sample Pitches (Short and Long) with Template Files. The WSO Hedge Fund Interview Prep Course has everything you'll ever need to land the most coveted jobs on the buyside. Learn more.

Jan 11, 2019

How did you get into investing, how did you show them your passion?

Cheers.

Absolute truths don't exist... celebrated opinions do.

Jan 11, 2019

I got into a target school (top-4 Ivy league) as a CS major. It turns out that I wasn't having that much fun with the major in freshmen year, and went into despair mode b/c i didnt know what I wanted to do.
My peers kind of influenced me into the industry shortly after. I did not know a single thing about the financial industry, but heard that it was the way to make the most $$$, which got me interested. Since then, I've completed an internship every single year throughout college, and got a FT after looking desperately for months.

As for showing them my passion, I've read every single articles and related materials before the interview (which was actually for a part-time INTERNSHIP position). They liked me as a person and saw that I did proper research before coming in for the interview, and was offered a FT contract for an interview that was meant for an internship.

Hope this helps.

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Jan 11, 2019

Is "top 4 ivy league" just saying Columbia or am I reading too much into this...?

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Jan 12, 2019

Hi,

From your experience in internships and current job are data skills very sought-after and would you say that being a CS major helped with the recruitment and/or the actual job ?

Is there room for a more fundamental guy with some data/programming skills or is being an R/Python guru better?

    • 1
Jan 12, 2019

What is the typical background for investment people at your firm? (e.g. IB, AM, etc.)

Jan 11, 2019

most backgrounds are sell side analysts at non-BB but named firms but do only have a few people in the firm (<10)

Jan 12, 2019

I was also wondering, what is the research process like there?

Jan 14, 2019

What time horizons do you guys target and what does the promotion track look like by years?

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Jan 11, 2019
therealgekko:

What time horizons do you guys target and what does the promotion track look like by years?

time horizons: up to 2 year for long and up to 1 year for shorts

small fund so title doesn't really matter. We have an analyst (me), senior analyst, and C-level executives

Jan 15, 2019

Does the firm normally hire people straight out of undergrad? And have you heard of other firms doing so? From what I've heard it is pretty rare.

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Jan 11, 2019

Yeah. I've seen even big firms (like AQR) or other firms with more than 1bn AUM hire my friends out of undergrad. These were kids from top 5 ivy league with almost perfect GPA so it was pretty clear. I had to dig really hard and work really hard on my interviews to land full-time with my mediocre gpa (<3.5, but greater than 3.0)

Jan 16, 2019

In your opinion, what kinds of things should a student do in college to have a shot and landing a HF position out of undergrad?

Jan 11, 2019
rdizzle16:

In your opinion, what kinds of things should a student do in college to have a shot and landing a HF position out of undergrad?

read my comments above to see what i did ^

Jan 19, 2019

.

Jan 20, 2019

Thanks for doing this.

  1. How did you find the fund? What was the interview process like? How did you differentiate yourself from IB/PE candidates?
  2. Do most senior people have CFA and/or MBAs?
  3. What percentage of HFs were open to candidates without IB/PE experience?
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