What is the best way for a college graduate to work at a hedge fund? The problem is that there are no hedge funds that recruit at my school. However, I have a large list of hedge funds (of all sizes) and I plan on cold calling and asking about FT positions. I’ll be targeting the smaller funds first. What do you guys recommend? Is it even possible to break into HFs during this time straight out of college?
I know of someone who did it out of undergrad. However, his older brother and dad’s best friend was in that HF also. Goodluck. It’s a tough road.
Cold calling is a long shot. What I did is search the various sites (glocap, etc) and if you’re in a major city also Craigslist. The best way might be to target operational roles, but also let them know your interests (financial analysis and/or trading, etc). I found my job (HF) through Craigslist and it was just for an operational/trading assistant role, but I let them know through my rounds of interviews of my passion for investing/trading. I was a L1 at the time. Once you get in, you just work your butt off and show how much you want to learn and they will move you around to other areas. If you show initiative, they probably won’t just keep you in operations. I started in ops doing grunt work/spreadsheet crap, but I made sure to always talk to the traders/analysts to learn more about what they do, then I got to trade a few very small carve out portfolios, then promoted to trader, now I’m done with the CFA program and I do trading and analysis (I like the dual roles). Always have a plan that makes you stand apart from everyone. For instance, if you cold call make sure you have a great “selling” presentation. good luck!
I think if you really want to go the cold call route, you have to work the list from the big fish instead of from the smaller one.
You could always start your own HF.
Have a degree in comp sci/math with heavy programming skills.
I recommend the CFA society job line. We hired some recent grads off that list (interns) – not hiring now, but it’s worth a shot. There isn’t really a magic bullet, you just have to hustle until you get it (which, incidentally, can be a while, so don’t give up if you are serious).
create a formula and name it after yourself (even though it has limitations, static volatility, dividend assumptions, etc)… I heard that is great way to turn billions into zero. But it will be a great learning lesson.
ConvertArb Wrote: ------------------------------------------------------- > create a formula and name it after yourself (even > though it has limitations, static volatility, > dividend assumptions, etc)… I heard that is > great way to turn billions into zero. But it will > be a great learning lesson. Not only that, but if your formula results in a truly spectacular melt down, people will assume that you now have “experience” managing money, and they will be happy to capitalize your next hedge fund because you now have “insights” that the majority of investors don’t have. See JWM Partners.
make sure you charge 3&44 i heard that is the going rate for a well known fund…
Great stuff convertarb and Bromiun.