Need some guidance for interview

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Tulips's picture

Have an interview scheduled at a credit hedge fund and I would really appreciate any helpul advice you guys can offer. To be quite frank I feel like I’m overreaching. My career is still in its early stages…a few years out of school, taking level 2 in June and currently doing mostly back office work at a private asst mgt firm. What should I expect? I’m reading all that I can find on credit hedge funds but could definitely use direction! How can I prime myself to the T?

itera's picture

what is the job description? What are you expected to do?

Hope. It is the quintessential human delusion, simultaneously the source of your greatest strength, and greatest weakness.

The Righteous Hacksaw's picture

Tulips, you dont have to be that smart, just smart enough to get the job in the first place. So don’t sell yourself short. Also don’t go in with huge expectations. You might find out very quickly that you don’t want the job or that you are not a good fit. Plenty of opportunities will come and go so don’t sweat it if it isn’t right for you.

No Homo

Tulips's picture

The job description is actually pretty vague, basically assisting the Risk team with producing reports, some P&L analysis, liaising with b/o for any discrepancies. All that is fairly familiar to me but with the place being a credit hedge fund in particular, I’m concerned that they’ll throw out product specific questions I won’t be able to answer.

And yes, I’m hoping I don’t need to to be too smart for this role just yet.

itera's picture

Well for one, they can throw at you anything about the credit products they work with. How trades work, who’s taking the risk, who’s betting on what to happen, how to make money with credit trades.

Not sure what level you are on, but brush up on that section in L2 that discusses different trading strategies like correlation trades and the like

Hope. It is the quintessential human delusion, simultaneously the source of your greatest strength, and greatest weakness.

toHFanalyst's picture

Brush up on your puzzles. In my last interview, they asked me if I liked puzzles…

I also found this web-blog useful for the various rounds… http://howtogetahedgefundjob.com/

Hope that helps…

Do your due diligence

Tulips's picture

I ordered the “Heard on the Street” book last week, it’s still in the mail but I already interviewed. Anyway, thanks for the advice guys (and the blog, I’ll definitely be spending some time there). My recruiter said he got very positive feedback and they’d like to call me back for second rounds but probably not till January. Seems like a long time till January, just a nice way of saying no?

itera's picture

^ It’s likely you did ok, but they think they can get better, so they don’t tell you “no” and just keep you on the hook until they catch a bigger fish. Then they can let you off

Hope. It is the quintessential human delusion, simultaneously the source of your greatest strength, and greatest weakness.

daviskr's picture

iteracom wrote:
^ It’s likely you did ok, but they think they can get better, so they don’t tell you “no” and just keep you on the hook until they catch a bigger fish. Then they can let you off

Agree with iteracom. Plus I’m sure they’ll have to consider which of their current employees will stay or go after any potential bonuses get paid out. Hiring in December before year end rarely happens unless you have some sort of skill set they can’t replicate or get elsewhere. Stay positive, though, I’m sure you impressed enough or they just would have said no thanks.

All hail legendary Blake!

Tulips's picture

What do you guys think of the “thank you” follow up email ? Is it really as important as they make it sound? I’ve always thought of it as incredibly superficial and unnecessary. I’ve thanked you plenty and said all I needed to say during the 1.5 hr interview so if you need an email to remember my beautiful face then clearly I didn’t make such a great impression and no bull ish thank you note will change that. I send them only because school teaches us its standard practice and if not sent then forget about getting a call back. Bit dramatic, no? Or am I just being young and stupid?

itera's picture

Tulips wrote:
Or am I just being young and stupid?

This

Hope. It is the quintessential human delusion, simultaneously the source of your greatest strength, and greatest weakness.

toHFanalyst's picture

Tulips wrote:
What do you guys think of the “thank you” follow up email ? Is it really as important as they make it sound? I’ve always thought of it as incredibly superficial and unnecessary. I’ve thanked you plenty and said all I needed to say during the 1.5 hr interview so if you need an email to remember my beautiful face then clearly I didn’t make such a great impression and no bull ish thank you note will change that. I send them only because school teaches us its standard practice and if not sent then forget about getting a call back. Bit dramatic, no? Or am I just being young and stupid?

Depends on how hungry you are for this job or company…

For me, I sent a thank-you follow-up letter for *each* interview round. They are helpful to re-iterate any *good* points and cover up any *bad* points or gaps. These days you need to consider 80-90% they actually interview are qualified as well, and maybe 30-50% of those impressed them as well. How will you stand out from the crowd?

I’m 37. It worked for me.

Just remember to keep it clear & concise like a cover letter (less than 1 page) and aim for within 2 days.

Hope that helps…

Do your due diligence

Tulips's picture

Was called back for second round. They’re now looking to test my excel proficiency…anything in particular you guys think I need to brush up on? I’m familiar with the basic functions, vlookups, pivot tables etc but that doesn’t seem enough.

dspapo's picture

Congrats, Tulips. I don’t have any credit HF-specific tips, but good luck with the next round

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