I am close to graduating from college, my goal is to land a job in a hedge fund. Im aware that chances are that won't happen straight out of college. What career path should I take in order to be able to have the right exit opportunity to land a hedge fund job in the next 1 to 2 years after graduating? Thank you

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If you are unable to make it to IBD, I would suggest equity research. In the meantime, definitely try to keep an active portfolio.


It completely depends on the strategy of the fund you want to join.

For example, if you want to join a global macro discretionary fund you may be better off being a strategist or economist at an IB / big AM.

IBD route prepares you for event driven and L/S as does ER.

If you want to be in a systematic hedge fund / CTA you'll need to do some kind of programming research.

Completely depends on the strategy of the fund on a best route, that being said, starting in a IB as a junior keeps a lot of doors open.


Problem with ER is the industry is downsizing bigly.


Investment banking, preferably in M&A, is the best. I am in the industry, and my firm would never hire someone with sellside ER experience. We are long-term value investors and the mindset on the sellside is too short-term oriented (so we don't want someone "trained" with that kind of mentality) and I think most will agree that the analytical work on the sellside is questionable. Most reports are "updates" on the quarter and where models are driven by what the guidance that management provides. Plenty of people in ER go to the buyside, especially at the junior level, so you just have to find a fund that values that kind of experience. Harder if you get more senior, since it's more marketing and sales than anything else.


Is it possible for ABS-oriented IB analyst switch career path to HF at some point down the road?


Fixed income is a whole different beast man. It's extremely macro oriented so I guess you could probably jump over to a macro HF. But the issue is that you're switching industries entirely. It also depends on the products you work on. Traditional ABS like Gennie's, Fannie's, and Freddie's aren't going to make you bank unless you're a programmer and you have a superior arb start (This requires god like intelligence, no fuckin joke). RMBS, CLO's and maybe distressed credits would probably be the route. Distressed credits can be super event driven so that could be a natural move as well. But just a pro tip man, don't go into fixed income thinking you're going to switch into equities at a HF because it'll be tough.


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