Hegde Funds That Have a Summer Analyst Program?

Anyone know any hedge funds or pe firms That Have a Summer Analyst Program? Simmilar to the Ibanks or even if it is not similar (in structure) have one at all?

I know the Blackstone Group hires summer interns? Any other firm?

 

just want some opinions - is an operations internship at a top hf horrible on a resume? I understand it's not as desirable as a trading or analyst role, but if they don't even offer these for internships...it just seems that operations wouldn't be the worst route to go.

anyone?

 
Best Response

Hoff - for a Sophomore or Junior year internship? And what's your full-time goal, IBD or HF? Bottom-line - it's not as desirable as a front-office position. But it's a great thing to have on your resume and should keep you in the running for full-time front office positions the following year - having anything finance related on your resume especially from a brand name shop is a good thing.

 

Hoff - for a Sophomore or Junior year internship? And what's your full-time goal, IBD or HF? Bottom-line - it's not as desirable as a front-office position. But it's a great thing to have on your resume and should keep you in the running for full-time front office positions the following year - having anything finance related on your resume especially from a brand name shop is a good thing.

 

Junior year internship. My full-time goal is IBD, but being from a non-target I feel I might have to take what I can get. I have an interview with a top hf for ops, so I was just curious. Thanks for the input.

 

So my understanding is that pre-crisis, there was still a defined line between prop desks and market making desks. That being said, given that hedgies recruited from S&T in general and not just the defined prop desks, I would imagine nothing has changed in that regards.

Risk was allowed by market makers to an extent pre-Volcker and risk is still allowed today (although I have no idea what the difference between these allowances are as I'm still a youngin). Unless this change has bee extremely drastic, I'd want a bit more detail before buying into the statement.

For clarity sakes, here are the assumptions above:

1) Hedge funds did recruit from the market making desks at sell-side institutions 2) Nothing has drastically changed in the risk allowance and other responsibilities

 

Prop trading still exists at some institutions. For how long is a different question.

At CS for example they have vol arb trading in Frankfurt. CS has a range of structured index products that has several strategies, which are mostly quantitative in nature. In order to lure investors into buying these they invest in them themselves to of course build a live track record. But guess what, during my 6 month stint there no one ever sold any of those indices because quite frankly theyre too complex and untransparent.

From a local source I have heard that BAML has a principal trading arm that dabbles in distressed debt and "controls about 80% of the market in Germany". For those interested, they actually have an internship advertised on their careers site.

 

To my knowledge, it seems that there are plenty of channels left for global macro fund to hire young analysts. Recently, I hear more consultant friends jumping toward PE, and some for macro hedge fund. They've also started hiring people out of legit prop shops.

 

By training programs, do you mean new recruits will undergo a month or two of in-house training/licensing upon signing offers? Or that funds will run post-graduate programs any candidate can apply and pay for? I'm picturing something similar to Arthur Andersen's Q Center, though I'm not sure that makes economic sense given how drastically fewer trainees hedge funds deal with.

 

A lot of large funds are hiring directly out of undergrad these days.

They can also find some of their traders from prop shops. A lot of shops now hold overnight positions. Banks don't have a monopoly on trading.

All that said, hedge funds will always need people who know the market to get the best execution. So there will always be at least a few seats reserved for people from S&T at every fund.

 

Voluptas rem rerum aperiam soluta molestiae explicabo facere saepe. Eligendi placeat tempore aut repellendus et sint. Qui eos dolorum minima unde quis velit pariatur. Qui inventore sed et vel dolorum. Qui ad nulla aperiam recusandae tenetur unde ipsa. Totam autem nam nemo dignissimos rerum consequatur nam. Sint ducimus veritatis beatae fuga sint.

Ut et accusantium voluptatibus ullam inventore maxime ullam. Et et et molestiae est magni et atque. Iste voluptas amet et rem voluptas vel ut.

Qui rerum hic facilis maiores. Cum consequuntur ut veritatis qui et qui. Eaque beatae iure perspiciatis quos voluptas optio.

Career Advancement Opportunities

March 2024 Hedge Fund

  • Point72 98.9%
  • D.E. Shaw 97.9%
  • Magnetar Capital 96.8%
  • Citadel Investment Group 95.8%
  • AQR Capital Management 94.7%

Overall Employee Satisfaction

March 2024 Hedge Fund

  • Magnetar Capital 98.9%
  • D.E. Shaw 97.8%
  • Blackstone Group 96.8%
  • Two Sigma Investments 95.7%
  • Citadel Investment Group 94.6%

Professional Growth Opportunities

March 2024 Hedge Fund

  • AQR Capital Management 99.0%
  • Point72 97.9%
  • D.E. Shaw 96.9%
  • Citadel Investment Group 95.8%
  • Magnetar Capital 94.8%

Total Avg Compensation

March 2024 Hedge Fund

  • Portfolio Manager (9) $1,648
  • Vice President (23) $474
  • Director/MD (12) $423
  • NA (6) $322
  • 3rd+ Year Associate (24) $287
  • Manager (4) $282
  • Engineer/Quant (71) $274
  • 2nd Year Associate (30) $251
  • 1st Year Associate (73) $190
  • Analysts (225) $179
  • Intern/Summer Associate (22) $131
  • Junior Trader (5) $102
  • Intern/Summer Analyst (249) $85
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
BankonBanking's picture
BankonBanking
99.0
4
Betsy Massar's picture
Betsy Massar
99.0
5
kanon's picture
kanon
98.9
6
dosk17's picture
dosk17
98.9
7
GameTheory's picture
GameTheory
98.9
8
CompBanker's picture
CompBanker
98.9
9
DrApeman's picture
DrApeman
98.9
10
Jamoldo's picture
Jamoldo
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”