Improving Hedge Fund Interview Performance

Hi everyone,

I recently got rejected from an MM hedge fund. The process was pretty long. It started with submitting a questionnaire, which by itself took 6-10 hours, followed by 4-5 days of a company related case study (this was on top of 20 units that I am already taking apart from the various clubs). Finally, I had an interview with the recruiter. Given it is a hedge fund, I assumed personality questions would matter less than they do in IB or PE. I had a solid stock pitch that has won me few competitions, so I doubt that resulted in me getting dinged (I follow the various competitions and ideas pretty closely and my previous stock pitches have done pretty well). I did make the mistake of saying that my interest in becoming an investor originally grew in 2015 from watching Martin Shkreli's videos where he would analyze different companies and talk about the hedge fund industry (at least that was part of my answer). The recruiter in the end mentioned how the HF really cares about ethics and tries to put that on the top, which was funny because their founder's reputation is anything but ethical and given my bad poker face I might have briefly looked a bit amused, but I felt like me mentioning Shkreli might have resulted in her mentioning the ethics part.

I am seeing on this forum that people who recruited with me for IB roles and couldn't get lower BBs are ahead of me in the interview process somehow. So, I was wondering if you guys have any suggestions on what hedge fund recruiters look for, what steps helped you win offers from top HFs and if mentioning indicted people can result in a rejection by itself.

Edit: Just to mention their rejection letter said that they don't provide individual feedback, which sounded pretty outrageous given the amount of time I had to spend to get to the interview round.


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Comments (5)

  • Prospect in IB - Gen
Nov 29, 2021 - 10:33pm

Did FT recruiting and accepted an offer for one of the big MMs. Mentioning Shrek was definitely the mistake as you noticed, the HR screen is purely to sus out interest in the industry, interest in location (if a big change like West Coast to NYC or East to SF etc), and personality/integrity. You were too honest and put up a red flag for the last point, happened to me too when talking to a different MM so don't worry too much just make sure you have your story down tighter. Hedge fund HR is also a lot smarter than on the sell-side so they pick up on smaller things. Once you get past them then the focus returns to the pitch.

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  • Intern in HF - Other
Dec 1, 2021 - 7:16pm

Echoing what the above guy said. I got into an MM HF via SA conversion, so perhaps slightly different, but:

Think the Shrekli thing was the deal breaker.

I'm assuming based on the founder comment that this is P72- if so, I heard that they tend to be extra uptight about these things because of the SAC history, so I guess it's just being unlucky? though TBH u should have probably avoided that- think the other MMs would have felt less annoyed with the comment.

Also, there is a chance it may not have been just the Shrekli comment. I think the ugrad FT programs for these spots is <20 nationwide(P72 is ~15 people, with ~10 from intern conversion, same for Citadel I think. Millenium is likely low as well, and I think DE shaw and Marshall Wace take mainly 5 each from intern conversion), thus competition for these places is super tight.

I heard colloquially that P72 and CItadel get 10k+ apps for ~10 ugrad positions, so it's often a real shitshow.

My point here is not that I'm great, but rather that with such a large no. of candidates, getting accepting is often due to chance. Keep your chin up, and remember that there's still lots of no-name quiet places which are better than the MMs!

  • Intern in PE - LBOs
Dec 4, 2021 - 3:44pm

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