Intern at a hedge fund for getting into ER?

What are your thoughts on interning at a small long-short US equities hedge fund (20-50 mm AUM), if I"m hoping to move to into ER? I don't really have much finance experience, as I'm transitioning out of being a litigation attorney (finished law school almost 2 years ago). Working with this place will give me a chance to learn DCF modeling and some other skills that could be helpful on an ER job, especially since these guys don't work with a ton of sell side analysts, and so a lot more of the research work falls on the analysts at the fund itself. I know that an ER internship would obviously be preferrable when applying for an ER job, but do you guys think this could be helpful, or am I just wasting my time, and I should pass on this until I find some sort of internship opportunity doing ER? Thanks!

 
Best Response

Do it. Good opportunity to get your hands on some actual analysis experience, see things from the buyside perspective, and learn about calls on both sides of a trade. Any experience actually analyzing stocks is a good thing, and a smaller shop will give you much better exposure.

Now, that being said, if you find a great ER internship, then that is a good problem to have. But if this is for sure an option and you're intrigued, it could be great experience. Like you said above, this could provide you with a great skill set moving into a full time ER role whether in a sell-side or buyside setting.

 

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