Leaving Big 4 for HF/AM/MF - Help
Am willing to provide advice on networking, applying to jobs strategically, and whatever it is someone in a similar boat might want to ask me about the Big 4 or Fortune 500 Finance roles.
Also, WANT to get advice from experienced finance folks - how to break into HF from the Consulting world? I am definitely not planning on going to B-School at the moment - not willing to give up my income.
Short story: Graduated from Big 10 in December, no job lined up, fucked around for a few months and networked my ass off - landed at F200 in corporate finance, then after around a year switched into Big 4 Consulting - better pay and opportunity to fluff up my resume. Been here for a while, but realize consulting is not my thing...
HELP!
Don't know anyone who took this path, but is probably a mistake for you to write off B school like that. Seems like best bet might be to switch to banking or go to B school.
Agreed - not writing B school off, just not planning on doing it at the moment.
What other career options should I be looking into if I want to transition into HF eventually? The ones i'm currently considering are PE, Mutual Funds, ER, AM or even some sort of Contract Type work while I network and work on my own portfolio.
IMO, Hedge funds don't really care where you are coming from as long as you can prove that you have good investment ideas and can make them money. Speaking of which, I have a pretty decent portfolio, started trading options last year and have been killing it so far. I also have a few write ups of researches (Long and Short) - my Equity Research friends have said that they are at par (if not better) than some of their colleagues. What are your thoughts on this seeing that you work at a Fund? If I send those in, network and they like my style, pitches, research - shouldn't that be enough?
Thanks Beast!
There is a sizable shift going on in the research industry right now because of regulation about how hedge funds and asset managers pay for external research and whether the manager or investors pay for it. Boutique research shops and smaller broker dealers are actively hiring research staff to deal with the shift in the payment models.
It seems like a lot of sell side ER are starting to move to buy side and smaller research shops as the budgets are coming down. Hedge funds have had a real tough time performance wise over the last 2 years - 2016 was the highest closure rate EVER (bar 2008). That is a tough place to find a job right this minute but the ice is thawing and if the markets keep it up, by Q4 things should be a lot better.
If you want to do legit research and get yourself over to the buy side, get your resume to the research only / smaller broker-dealers. Google and you'll get a list of the top 50. Use your banking contacts to get a human being that works at one of those firms and can introduce you. They will like that you've got corporate finance experience and done some consulting work. Since you trade options, take the research you wrote and pitch your ideas in the interview.
If you don't want to do an MBA right now, start your CFA.
I am making this jump as we speak so I walk my talk, and I've got 15 years experience already. These places are definitely looking for research analysts who have under 5-7 years experience.
Ok, I'm going to take this as sarcasm / trolling, but short answer is no. Do some reading on here and you can figure that out.
Not to be a dick, but you need to do more work on your own first to figure out the typical paths, etc. Then come back and ask more informed questions. Trying to trade options etc is a waste of your time.
Not trolling at all, but why do you say so?
I trade options because I don't have enough capital to invest in the company outright - it's for me to keep money coming in but I have more than solid ideas and know precisely when to get in and get out. (this is besides the point though)
Ok, let me rephrase. It isn't a waste in terms of you theoretically gaining a slightly better understanding about how markets work and to show your passion for investing. But it is a waste from the perspective that no reputable fund is likely to care that you "made 140% IRR" in your PA. As such, you are way better off reading books and networking, or better yet, actually pursuing careers that will get you a look at funds.
If you want to break into AM, learn about what it does, who it serves, and who the major players are. That'll help lead you in the right direction, otherwise it's really just too vast to provide generic advice besides HBS/Wharton MBA, etc.
Hey man, thanks for that!
Exactly what I wanted to ask in the first place, what might those careers be that I can transition into from MC, that might help me get into a HF in 1-2 years. So far, AM is the top dog, and then there is ER. Anything else even worth looking into, or as a back up? I do have a solid network, so anything would be helpful.
Thanks!
It is tough out there. You have very strong candidates with strong buyside experience having trouble landing at funds, particularly now with some big HF closures and long-only shrinkage. There is a ton of talent out there and not many open seats. I would say as a general rule you're going to need to do an intermediate step from the consulting role to HF's. This could be MBA, an associate role inside AM, banking or possibly a top flight sellside research stint. None of these are slam dunks, but they will maximize your chances.
Props to you - this is what I have been looking for, I just wasn't phrasing it properly i.e. what might be the best 'intermediate' step be for me to transition into a fund after 1-2 years.
Apart from AM, anything else come to mind? I have a pretty solid network in Banking and some F500 companies.
What the fuck are you saying? You seem to lack the reading comprehension required for a buy side investing role.
I told you to do IB in my first post. He told you IB, ER, or AM. Why are you asking for other options?
Calm down there cowboy, I already know ER and AM - I said that in my post - IB I don't want to do.
I'm asking for other options, because ... i'm just fucking curious you retard. If you don't have anything productive to add, then stop commenting.
As far as your condescending comment - sure buddy.
You're missing the point. There aren't a million different ways you can end up at a HF. Banking is by far the most common route, and AM/ER next. If you couldn't figure this out, there are reasons for that, namely because of the skill set you develop and your resulting ability to do the job once you break in. No one is telling you other ways (or even wasting their time with this thread) because pursuing other ways would be a waste of your time.
Frankly, realize you won't appreciate this now, but I would focus on another career. You don't seem to have the will to succeed thats required to make this difficult two step jump (particularly if you're willing to rule out IB so quickly when you clearly need to learn more about it). You seem to have done zero research yourself, ask for us to give you all the answers, and then get fucking pissy when it isn't what you want to hear. Also, the disrespect you're showing for someone who goes out of their way to give you advice is pretty laughable. Grow up.
Good luck with your budding master of the universe career.
Right on partna' - why are you even arguing with a 23 year old on here? Go do your work at your 'HF'
"How do I become a doctor" "Med school" "No besides that" "Med school" "No I already told you I don't want to go to med school, what else?"
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