Does anyone have any advice or knowledge about off-cycle internships at hedge funds? I am thinking of reaching out to some in Chicago this next week, but I'm not quite sure of the best way to go about it. My main concern is trying to target firms that might actually be large enough to make use of me, as I had contacted some extremely small firms earlier in the year, prior to summer, but they simply had no use for an additional employee.
Is this something that is regularly done? Or am I wasting my time? In addition, I am wondering if a phone call is more effective than email, as it seems to me that this is a much better way to form a relationship.
Thanks in advance.
Why dead set on hf internship?
TBH i don't even know what most hedge funds would do with an intern. It doesn't even matter if it's for free.
Good point. I should explain a bit. I am also looking into other segments as well....doing this for banks too. I just wanted to see if there was any precent for this on the buy-side. My long-term goal is at an HF, not banking or PE.
I wouldn't limit yourself just to HFs as most I know of don't take interns at all. Contact any investment manager you can find. Also, I would just contact about an informational interview and let it progress from there. I can guarantee any shop worth its weight in salt gets tons of internship requests and if you don't have something visible on your resume to really set you apart right off the bat it's not going to be easy.
If you get an informational interview, etc. you're going to have the opportunity to impress them with your passion for investing, knowledge or whatever it is that can set you apart that isn't able to be seen on your resume. If you can impress them then you stand a much better chance of them helping you out in some way.
Very good point. And I think I should have maybe been more specific. That is primarily what I have been trying to do. So far, every firm has smelled the trap (so to speak) from the off...emails asking for informational interviews have been met with responses of "we're not hiring" so I'm trying to figure out the best way to go about this. I genuinely am looking for only that at this point, because as you said, that's when you have the chance to impress. I interview well, my resume is not very impressive however. So, ultimately, that is immediate goal, to speak with someone at an HF that generates P&L and try to build a relationship with them.
Very good point. And I think I should have maybe been more specific. That is primarily what I have been trying to do. So far, every firm has smelled the trap (so to speak) from the off...emails asking for informational interviews have been met with responses of "we're not hiring" so I'm trying to figure out the best way to go about this. I genuinely am looking for only that at this point, because as you said, that's when you have the chance to impress. I interview well, my resume is not very impressive however. So, ultimately, that is immediate goal, to speak with someone at an HF that generates P&L and try to build a relationship with them.
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