Best way into a hedge fund?

XREDACTEDX's picture
Rank: Monkey | 36

ive heard er is a good stepping stone or ib since ib kind of opens up all doors possible. wondering if anyone has any good knowledge here on the most realistic way to get to a decent fund

Comments (11)

Feb 6, 2020

Google hedge funds in your area. Email and call 20-30 funds per day, everyday, until someone offers you the chance to interview. After that it's up to you to explain how you can add value. Effort and humility go a long way.

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Most Helpful
  • Analyst 2 in CorpDev
Feb 7, 2020

Being smart enough to use the search function on a forum about hedge funds to review the answers to the other half dozen thread topics identical to this one is a start.

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Feb 8, 2020

@ Analyst 2 in CorpDev, couldn't have said it better myself. That and this crazy invention called the "google" where all sorts of crazy ass info is stored...

But since a self-starting/initiative-taking approach along with exceptional acumen/acuity for research and critical thinking/problem solving are essential to success in any HF investments role, sounds like there's a long hard learning curve up ahead lol

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Feb 10, 2020

see other response. good luck on getting a diploma!

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Feb 10, 2020

why do that when theres so many people like you willing to take time out of their days to comment on random internet forums? ;)

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Feb 10, 2020

Walking through the door is usually the best way. If windows are open it can be a suitable second option.

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Feb 10, 2020

Step 1) Procure brick
Step 2) Throw brick into a window pane of a hedgefund
Step 3) Climb in throw window

Congrats, you are into a hedge fund

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Feb 13, 2020

Ok I just spit out my food, this is hilarious

Feb 14, 2020

The advice you've gotten is pretty generic/not helpful.

  1. Make plans or have plans to be able to relocate to Fairfield County CT or NYC (and reverse commute or target one of the funds in the city limits) where the majority of hedge funds are. A sneaky trick is to get a PO Box that looks like a real address if you're not willing to relocate until you're further along in the pipeline and not already in this area.
  2. Figure out your track. Is your angle investment
    research, portfolio construction, a TCA pro, high level economic researcher, algo dev, janitor etc.
  3. Given your angle/specialty identify the hedge funds in Fairfield County CT and NYC (and yes, if you want to work at a hedge fund this is where you're working. 80%+ of respectable hedge funds in the US are here) figure out what hedge funds employ your role. Smaller funds (sub $10 billion AUM) aren't going to be as interested paying a TCA specialist 250grand a year because they don't have the AUM to justify spending that much on such role. Likewise, a quantive-HFT focused fund doesn't have much need for a high level macro economist. So narrow down your funds you're targeting based off what kind of companies are likely to be interested in your role spec.
  4. Network. Go on linked in, find people that work at these hedge funds. If it's a smaller shop it's a little bit harder. Hedge funds are small circles whose open recruiting focuses on highly elite circles that you're likely not in if you're posting this question (top grads from Ivy League schools, experienced professionals with track records of doing similar roles, associates of current employees). This means you need to personally get to know people who work there to get you in the door, because you have little chance of getting in through direct job postings. Be willing to do jobs other then those you desire to show you're hungry and move laterally once within. If it's a big enough fund to have a recruiting department, find a recruiter. Get there email, number, any contact information they're willing to give out. Follow up with them and contact them every week updating them on what you're doing to be worthwhile if there time. If you've got nothing for them, check in, constantly (only be this aggressive with contact with recruiters). If you're contact is not a recruiter back off a little and keep the communication bi-weekly at most. The key is to get someone to notice/listen and demonstrate your hunger
  5. When you're in the door, not doing exactly the job that you want, work 60 hours a week to crush what ever your responsibility is. Prove your mettle, then after 18 months push to move into the role you really want
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Feb 25, 2020