I am a equity analyst in the AM division of an EB. I spend most of my time researching and recommending equities for our long/short & long only products. I've enjoyed the people and work, but I'm unsure about upward mobility/comp. Should/How do I get into the radar of more traditional hf headhunters?
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Asset management to top hedge fund (Originally Posted: 07/10/2008)
Anybody with similar experience to share?
I know people who have gone from top asset management firms as research associates to hedge funds. There are clearly lots of transferable skills. I know people on the mutual fund side sometimes get upset because they can't short there bad ideas, use derivatives, and have to deal with other regulations.
www.sharpeinvesting.com
BB Asset Management to HF? (Originally Posted: 01/22/2008)
Is it common and possible to go from a top BB Asset Management analyst position to a good Hedge Fund?? (Is it harder than coming from positions like research,S&T,banking)
Very good question. I just accepted a job offer to work as a quantitiative fixed income analyst for GSAMs quantitative investment strategies group. In the long-run my goal is to make it into the hedge fund world. Will the fact that I work for GSAM count against me versus candidates with backgrounds in sell-side trading?
Big Asset Management Firm to Large Hedge Fund (Originally Posted: 02/29/2012)
I'm a 2nd year analyst doing institutional sales and relationship management at a large asset manager (think PIMCO, BlackRock, JPM) and I've had a headhunter recently contact me asking if I'd like to work at a large quant hedge fund (think AQR, Bridgewater, Renaissance) in a similar position. Base pay would be slightly higher and bonus would be significantly more. Would you jump on this offer or wait to finish your 2nd year as to not ruin your resume or burn bridges? Taking a position at the hedge fund would definitely require me to move or have a painful commute, which I currently don't have. I personally think that the team I'm on is definitely more stable in terms of job security and not sure of the HF space in terms of institutional sales roles. Anyone that works in a HF in a similar role care to comment?
From what I understand, Bwater is entirely institutional investor money and is more of a macro shop.
Bwater isn't a quant shop..
Quant macro based on my understanding.
Thanks for the useless comments.
lol
AM/MF --> HF? (Originally Posted: 10/01/2014)
Are large, well known AM shops (Fidelity etc) and well-regarded mutual funds a realistic path to hedge funds?
Can you do event-driven investing at AM shops/mutual funds or hedge funds only?
Also read many times about difficulty of hedge funds post-MBA without pre-MBA buyside experience. Is getting a job at a top AM shop/mutual fund (relatively) straightforward post-MBA without pre-MBA buyside experience (and with pre-MBA IB experience)?
bump. pretty curious
Buyside is hard post-mba period, regardless of HF/AM. BS to BS is the easiest but still not a guarantee. IB to BS is better than not IB but still hard. Just gotta be focused and network properly. Lots of people make that jump but a lot try and dont.
Post MBA, how common is large AM shop ---> HF?
If I eventually want to move to the buy-side (AM/HF/mutual fund) and (hypothetically - this is all 3-4 years away to be honest) don't get a buy-side job out of school, would it be better to return to IB or move to something like ER?
I'm not one of the WSO readers who thinks it's beaten track or die, GS or bust etc, but am curious as to how I should position myself in different scenarios after IB if I want to go to the buy-side. The reason I ask specifically is because I work in IB outside the US and for a number of reasons, may need to go straight from IB ---> US MBA program and may not have the chance to do buyside in between (in any country).
If I remember from some other threads, you're based in Australia as am I.
I can't comment on the shift from AM to HF specifically, but just locally I rarely come across people with IB backgrounds in AM, which is really the majority of the industry compared to HFs (of which there are few). That's not to say you can't make the transition but an ER background is the more common step.
Post-MBA...and there are others more qualified to answer...my understanding is that buy-side recruitment is largely what you make of it as these roles generally aren't advertised outside of the larger shops. There are a couple of recent threads talking about this.
Yeah I saw those, thanks for the reply.
You're right, I'm in AU but I'm planning on doing my MBA in (and moving to) the US in a few years - more relevant question about AM vs. HF etc there as you implied.
I can only speak for my own firm, a large AM shop that sources people almost exclusively from a few MBA programs... almost no one leaves from here for HFs. I'm not sure whether that's because the door is not open, or if ppl are just generally happy with comp/lifestyle/stability of being at a big long-only. Once in a while someone will leave for another long-only (e.g. if an experienced analyst has a chance to be a PM somewhere), and there are ppl who will leave for VC. But otherwise I haven't seen a lot of jumps to HFs. I think it's tough to justify taking that risk unless the economics are really substantially better. Part of this i'm sure is cultural though - we screen for likely hedge fund defectors and those guys generally aren't getting offers...
My 2 cents is it would certainly be possible to jump after 2-4 years, but you're likely going to need to work with a headhunter. Questionable risk/reward so a lot of people just stay.
I'm at a mid-sized AM shop and see the same kind of behavior here post-MBA. Just curious, how do you generally screen for hedge fund defectors?
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