Comments (23)

Feb 21, 2007

it's not common, but it is easy

Feb 21, 2007

I would also like to hear people's opinions about this.

Feb 21, 2007

Most hedge funds recruit extensively from IBD. Depends what type of fund, but generally M&A will leave you plenty of options. From the PM's that I have spoken to, a trading background(flow not prop) will put you more on the execution side of a fund, while ER/IB will allow you to work as an analyst and hopefully one day a PM. Your best option for a two year stint would of course be a prop desk but realistically your chances of getting on a reputable desk that will not be spun off in the next year are slim. This is only my $.02 so take it with a grain of salt.

Feb 21, 2007

Interesting, but how would IB prepare you for the analyst role at a HF? From what I gathered, you don't really follow the markets in banking..

Feb 21, 2007

You do however build a skill set out of understanding the financials of a company. Also take in to account the backgrounds of many buy siders who have started their career in IBD and look favorably at their "alma mater". I personally decided to take the CFA to help make the transition, but that should be a personal decision (MB>MC).

Feb 21, 2007

There are different types of hedge funds who hire different skillsets. IBD isn't that great for Global Macro or Quant funds, but there are a lot of hedge funds like Long/Short, Distressed, Event Driven, Merger Arbitrage, etc. that need fundamental analysis of companies and hire guys from Credit or M&A groups.

Feb 21, 2007

Plenty threads already on paths to HFs. Do a search.

Feb 21, 2007

If you want to do IM, then do IM. If not, sell side research.

Feb 21, 2007

Its possible. At my old firm, one or two analysts usually moved into the Asset Management arm which included the firm's FoF, HF, PE & PWM. Investment Management seems like it falls into this.

I was considering a move like that as well. People I spoke to came from different backgrounds - for example

PE at my BB
-analyst for two years at the same BB and then promoted to PE Associate
-2nd year analyst from another IB joined as an associate
-Undergrad with prior BB summer internship experience

FoF
-Undergrads from various semi-target/target schools
-Banking & Research analysts moved through divisions
-Operations analysts with 2-3 years experience supporting FoF made the transition

HF
-MBA with prior investing & banking experience
-Sell-side research analysts
-lev fin analysts and above on debt/loan portfolio management side

There's no one way, but already being in a front office role definitely helps.

The guys that made it from ops to front office made it because of a few different reasons - they were already interested in AM so they read everything they could to be knowledgeable, passed the first level of the CFA during their second year and spoke with as many people as they could.

Hope it helps.

The world has changed. And we must change with it.

I'm making it up as I go along.

Feb 21, 2007

JoeMontana, the reason I asked is that I'm coming from a non-finance background and will be doing my MBA for the next 2 years. I've heard IM jobs are even harder to come by than IB jobs...so I figured spending 3yrs or so in banking (not S&T, they're not hiring either) and moving to IM from there if it's possible.

Feb 21, 2007

isn't this a repeat post friend?

Feb 21, 2007

Yeh, I assumed different crowds with different experience looked at each forum, so I thought it would be good to get the perspective of those already in IM and those thinking or already in business school

Feb 21, 2007

Your profile is pretty effin' sick. People like you make me feel like I've achieved nothing. Anyways, I got into a small HF with just 1 yr IB experience, so I think you have a good shot, although my impression is you're aiming for much larger, well established firms.

Feb 21, 2007

You're in HF already, so in my view you're ahead of me.

Any views to share on IM roles? Perhaps any insight into the small HF vs the big HF would be useful as well ie. how do they profile candidates? how structured are their associate programs? etc

Feb 21, 2007

definitely go to B-school now. 2.5 years of IB is enough. You'll be able to get a job if your persistent. What kind of IM do you want to go into.

--
"Those who say don't know, and those who know don't say."

Feb 21, 2007

Ideally, Equities IM roles at Fidelity, Capital, BlackRock, Wellington etc

Some HF roles like Citadel, Tiger cubs etc would also be interesting but understand that these tend to be heavily competed for and the roles are a lot less secure

Feb 21, 2007
Penn11:

Ideally, Equities IM roles at Fidelity, Capital, BlackRock, Wellington etc

Some HF roles like Citadel, Tiger cubs etc would also be interesting but understand that these tend to be heavily competed for and the roles are a lot less secure

HF and IM jobs are really tough to get, even at schools like HBS and wharton. i know for a fact that PIMCO and citadel only take about 2-3 from wharton. And tiger management does not recruit at business schools.

Feb 21, 2007

my apologies, i'm just jealous of you, lol. congrats!

Feb 21, 2007
Comment
Feb 21, 2007