How to Start Your Path to a Hedge Fund Job
As an undergrad student that is determined to make a career on the buy side of the market, whats some helpful tips and advice that will jumpstart my process of making that dream a reality?
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I am a sophomore at the University of Alabama, and I'm majoring in finance and economics with a minor in psychology. I have talked to my parent's stock broker, and students at my school who have received internships at a hedge fund. I am interested in being a hedge fund equity trader.
Why do you want to be a hedge fund equity trader?
For background, I'm a distressed analyst at a large HF.
First off, more buy side firms are taking college interns. Apply for these internships to get a better sense of what the work is like and to give yourself a shot at getting a FT offer.
The screening process is largely a function of where you went (school name) and resume (exceptional achievement via a competition, relevant work experience at a firm with a name, etc.). Especially if you're lacking any of the former, you have to try very hard to stand out and network hard.
To give yourself the best shot, do the following when in school: 1) Get good grades - GPA is a powerful form of signalling 2) Join clubs to learn & get a network when you get into college 3) Start spending time now on learning how to think. Start questioning why more, start focusing more on understanding concepts and less on solving the problem in front of you. Start learning how to break up complicated problems into a series of less complicated ones (try practicing brainteasers, these are commonly used in interviews). This will help make you more thoughtful 4) If you're interested in fundamental roles, start learning about markets and how businesses work (easiest way IMO to do this is to just read other people's pitches on sites like VIC or seekingalpha and look up anything you don't understand). If you're interested in quanty roles, then get exceptional technical skills (whatever this would mean), etc.
How to get into the HF industry? #Confused Undergraduate (Originally Posted: 04/04/2018)
Hi guys, I am an undergraduate economics and mathematics student. I am really confused about my post graduate study, and I would like some advice. 1. I am really interested in Mathematics, and I wonder if pursuing a PhD in math would do any good on getting into a HF? (or PhD in economics) 2. Is MBA really necessary? I really don't like the curriculum of soft skills or team working thing. I believe I can learn business by myself. Would getting a CFA substitutes MBA? Moreover, I am not really interested in being a quant since I don't want to work with data or computers. I am looking for a career as a traditional fund manager. Thank you very much on your professional opinions.
Hi amzdh, yes, I'm a bot, but I'm also good looking. Hopefully, these threads help you:
Or maybe the following WSO members have something to say: JD-LAZARE IESHC Showmethemoooney
I hope those threads give you a bit more insight.
Also, use the Search Bar of WSO. There are a couple of very good posts on this topic that could be useful and relevant to you.
Transfer to a better school. That would help you accomplish 90% of your goal.
There is no point of fighting an uphill battle. You need to move to a better ground to take advantage of the situation. Transferring to a better (semi-target or target) school will solve a lot of problems. You can try all you want fighting an uphill battle but why not improve your own chance to success?
I definitely have been looking into making that move. If I got into a target school for my MBA after graduating from a non-target school for undergrad would that hold the same weight?
This is the equivalent of asking "I play football in college - how can I join the NFL?".
Read as many books as you can by the end of the year. Economics (especially behavioral), personal investing, financial analysis, etc. Would probably want to start off with the classics (i.e. The Intelligent Investor - as a sophomore you need the Jason Zweig commentary). That one took me plenty of time to get through. Make sure you comprehend what you're reading, and don't let your studies suffer (obviously GPA is more important). When the year is up. Try to read twice as many in 2019. Now you can get more specific - niche industries and analysis. Once you feel ready you can begin your own personal investing. Make it your obsession.
Of course, this won't help you get interviews, but will definitely help during the interview and hopefully on the job.
You should also just try to speak with people inside hedge funds and see if it's what you actually want to do. Often it sounds better on paper than what it is in practice and as a sophomore, you're probably going off of what you think sounds cooler than what you actually like.
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