Hedge fund internship - No experience
If I had an internship at a small HF freshman year in London, how would that look? I am interested in hedge funds as a future career but have no experience. Would back office at BB such as Barclays help get an internship at a hedge fund as a sophomore?
An internship at a small hf would be better than BO at barclays if you have that opportunity...
^definitely.
so a small hedge fund abroad would be better? would this help for equity research and banking and stuff as well? at what point does name not help that much
HF over BO any day
Unless its BO in a HF
Even if it's BO at a HF, it's still better IMO. If the HF is actually small, he'll at least get to interact with the PMs and if he shows some initiative, could learn a lot.
yes, it definitely would. doing back office stuff for a bank doesnt show much of your ER/banking skills, just that you worked for a big name. if there is HF experience on your resume, you will likely have more hands on experience and will be able to have MANY more talking points about relevant things you did for the HF, rather than just saying "yeah, i got a job with barclays as a freshman".
When a hedge fund is really small (under 300MM) you will typically spend a lot of your day doing BO stuff and then some of the day with the PM's learning useful ER/Banking skills. Every HF is different but most will actually use you to get some old stuff out of the way that no one really wants to do and then in return teach you some basic finance BS. No hedgefund with 10 people is going to take a sophmore and have you build full models by yourself in the 6 weeks you're there (my experiend with a HF after soph. year.).
I am interested in investing as a career and hedge fund would be ideal. Right now I have information risk management at Barclays plc, not what I am interested in and back office stuff, but it is a big name and I will be doing actual work. I can turn this down, but there is no guarantee I will get a better placement. There is a chance of getting a hedge fund, but what can I expect to do as a freshman with no prior experience?
Believe me, you won't be adding much value anywhere you go at this point. The point is to learn and help with the b!tch work. You'll learn a lot more at the HF.
I am afraid I will just be getting coffee or something like that even if I am offered a position. Would I be able to evaluate deals or do I need to have taken finance classes for that?
Sorry to hickjack the thread, but what about a 1.6B AUM hedge fund in NYC versus BB S&T in Hong Kong?? I know those are very different things, but just evaluating opportunities and not interest, how do they compare?
What's the role at the HF?
analyst intern... they're a long/short equity fund based on a value investing. Still very small (~24 people), but seems like they have some talented people. the top BB S&T offer is already secured and need my reply within 2 weeks...
Inputs please? I have interest in both fields, but just curious about opportunities. Thanks!!
The roles will be very different-I'll let the S&T people discuss their side of things but the day-to-day life of a value HF analyst will probably be closer to equity research than S&T. What sort of backgrounds do their analysts/PMs have? (IB, ER, S&T, etc)
One risk is that a fund internship like that is probably less likely to convert to a full-time offer just because of the size/hiring dynamics of a hedge fund. That said, I'd go with the HF-if you got a summer offer at a bank and have this on your resume, I have to think you'll be competitive for full-time if you decide you don't want to work at the fund or they don't offer you.
PM me if you want.
Sorry im having problems with PM right now... So rephrasing that - take the HF internship and try to get a full time with them, and if I can't get that try to do full time at the BB? The problem with my resume is that it doesn't really have a lot of financial related experience, so I'm really not sure if coming out of a no name HF after a summer would help me that much, if I don't end up with them...?
Not sure about their backgrounds - only 24 employees right now. The senior analyst who emailed me came from Greenhill...
Well it depends what you want to do-it'll (probably) be very different from sales or trading roles. I stick by my assertion that you should go with the HF because if you don't like it you should be able to parlay the internship and your S&T offer into a S&T gig, which may not be true vice-versa.
I came out of pretty small no name HF and went to a non target and got a lot of IB interviews. Buyside is buyside and if its atleast over 100MM and a real company it looks good, doesn't have to be TPG or Carlyle.
is it hard to get an HF internship sophomore summer?
HF internship information (Originally Posted: 03/09/2011)
Hi I will have some corporate work experience as I am very lucky at a large bank in BO, but it is a start. For the summer though I am hoping to try and get a hedge fund internship. I am a freshman, so is this too early? Is it worth trying to send out emails to potential employers. I am from the DC area so that is where I would be looking. I have not taken any finance classes so is there any chance of this?
I also go to a school in VA tech (non target)
Go fo it. You won't be paid but most places will be willing to take on a motivated freshman. Additionally, it will be an excellent networking opportunity.
HF intern Question (Originally Posted: 04/15/2011)
How hard is it to get a hedge fund internship as a freshman and will it be benficial if I am shooting for BB SA?
I haven't taken any finance classes so would this still help or should I look for it soph. year? What is the progression?
THE most important factor in getting an HF internship is whether you are able to work for free. If you are, then sending emails to PMs in your area should yield some results. If you want to get paid, you're going to struggle unless you know someone in a fund.
Jeff is right, any internship as a freshman looks good. But is it the best? IMO, if you want to work at a BB, get experience of that environment (i.e. larger firm), rather than an HF which is completely different.
Well getting paid is not imperative atleast as a freshman. so I might try that, what can I be expected to do.
Also I studied abroad as a freshman and worked at Barlclays in their group finance division, not Bar Cap but nontheless abroad work experience reltating to finace. Thus right now I was looking into an HF this summer....I also want to caddy and can make money and enjoy the summer, but I don't want to leave the summer blank if you know what I mean.
You'll just get to shadow the fund guys/sit in on their meetings. You should treat it as a learning experience, rather than trying to learn any skills. Ask all the questions you can, try to get a feel for how markets operate (harder than you imagine - if you think you understand, you're probably missing a large chunk of what goes on) Let's face it, you're this for CV points. If you haven't studied finance before, use an HF internship to understand the acronyms/jargon. That's worth its weight in gold later on. You might get asked to do some excel bitch work as well, and probably get the lunch and the coffee.
so in other words its worth it to try? I already have some corporate experience so a HF might be more unqiue and help me stand out. Is it too late though?
Hedge Fund Internship - Offered a summer position (Originally Posted: 03/14/2011)
I was just offered an interview for a summer position at a hedge fund in upstate New York. I am currently a sophomore and am looking for an internship this summer that would set me up for IB SA recruiting next year. Would a hedge fund internship be that applicable? I know that it probably isn't the best in terms of relative experience (PE and boutique IB would be much more translatable). However, it is getting late in the semester and I am not sure how many more opportunities I will get. Also, what departments of a hedge fund would provide the best experience? -Compliance -Operations -Trading -Accounting -Investor Relations -Technology -Administration
Like always, thanks for your input.
It would definitely be a valuable addition to your resume and could very well be a good learning experience. I think the most valuable (and relevant) departments to target would be ops, trading, and accounting.
Trading
Out of the choices you've given, definitely trading. I suppose Accounting might be 2nd best.
Ya I was definitely thinking trading would be the most interesting; I was just concerned how that would look for next summer. Hypothetically, if I got this internship and then decide to pursue SA roles in M&A next summer I would have to explain the switch no? On the other hand I could really end up enjoying trading and decide that I would rather pursue that next summer.
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