Does anyone else here work for a hedge fund or a large AM shop? I’d like to compare notes on the state of the job market for candidates with experience and CFA/MBA – what sort of opportunities are out there, best places to look, what’s realistic these days in terms of comp and advancement, etc. If so, please email me at bromion15@gmail.com. Thanks.
Job market is pretty horrible still, even with experience and advanced degrees.
I was looking internally and tentatively at other banks on the street. I quit last week and I am gonna keep my head down until Q1. We’re on a hiring freeze and I think after earnings season the other BB’s will follow suit. Sucks. As far as HF’s go. Unless it’s a mega fund I am pretty sure the small fish are getting wrecked. I was contemplating calling Everest to set up an informational. Well, anyone who saw last months performance will realize that aint happenin!
Didn’t know you had quit AM, thought you were going to stick it out a bit longer?
ASSet_MANagement Wrote: ------------------------------------------------------- > I was looking internally and tentatively at other > banks on the street. I quit last week and I am > gonna keep my head down until Q1. We’re on a > hiring freeze and I think after earnings season > the other BB’s will follow suit. > > Sucks. > > As far as HF’s go. Unless it’s a mega fund I am > pretty sure the small fish are getting wrecked. I > was contemplating calling Everest to set up an > informational. Well, anyone who saw last months > performance will realize that aint happenin! Didn’t know you quit, good luck on your search. I’m not sure if you are a member of CFAI or not or what you are looking for exactly, but they seem to have more postings on their site than a few months ago, at least for the types of jobs I am looking for. Have not seen any other good sources of jobs though – efinancialcareers is consistently disappointing and I hate working with recruiters.
Wow, misleading post! I quit looking for a lateral. Not the job lol! But yeah, as far as HF’s go; I am trying to steer a convo with a front point IR guy towards staffing and also trying to get some team structure knowledge for an internal HF with my bank. I would LOVE to work at an internal.
Bromion, are you looking to make a switch to another HF? I know you have indicated in previous posts that you found your dream job so I am just curious. On that topic, do HF analysts tend to move around or do they tend to stay put for a while. I guess, like anything in finance, it depends on how good you are.
ASSet_MANagement Wrote: ------------------------------------------------------- > Wow, misleading post! > > I quit looking for a lateral. > > Not the job lol! > > But yeah, as far as HF’s go; I am trying to steer > a convo with a front point IR guy towards staffing > and also trying to get some team structure > knowledge for an internal HF with my bank. I would > LOVE to work at an internal. ah, gotcha.
Bromion, try these:- http://www.selbyjennings.com/ Well placed in HF circles. Predominantly London based but claim to have opps US/worldwide. http://village.albourne.com/ You will have to sign up and then go to the job centre. Both are crummy in terms of site navigation, search functions (non-existent), but they do have the positions & connections.
email sent.
thommo77 Wrote: ------------------------------------------------------- > Bromion, are you looking to make a switch to > another HF? I know you have indicated in previous > posts that you found your dream job so I am just > curious. On that topic, do HF analysts tend to > move around or do they tend to stay put for a > while. I guess, like anything in finance, it > depends on how good you are. The short is yes, maybe. How would you weigh this? The Good: - Basically unlimited responsibility / opportunity to learn (sourcing and closing LBOs on an international basis, extensive solo travel (I’m talking about month long or longer trips around the country to visit 25+ companies by myself), extensive OTC block trading experience, meet with 50-100 CEOs / CFOs per year, opportunity to engage in proxy fights from time-to-time, learn a system that has produced ~40% returns per year over the last 20 years (no doubt that this works – it’s a money making machine)). - No micromanaging boss, set my own schedule. - No B.S., no politics, etc. Just work. (Seriously.) - Possibility of getting help opening my own fund in a couple of years, but no promises. This was implied when I took the job and is a material portion of the total comp, although is non-cash in nature obviously (I’m talking about the intermediate-term NPV). The Bad: - Money is good on an absolute basis, but I am certain that I am severely underpaid for what I do relative to other opps. Pay off would be opening my own fund as noted above, but there is no contract or indication of when or if this might happen, besides vague implications. If that doesn’t happen, the opp cost of working here relative to somewhere else that pays 50-100% more for the same job is large (assuming I could get the same job somewhere else, which isn’t a given, especially these days). There have been a few events over the last couple of weeks that have caused me to question the validity of the assumption that this will pay off for me – I am starting to wonder if it is a sham designed to exploit me. - No structure or feedback, often go weeks at a time with no communication or instruction. If I can’t read the bosses mind, yelling and abusive behavior ensues. Boss is unreachable by phone or email most of the time, and goes long periods of time without coming into the office, so this happens fairly regularly. Also, try pitching investment ideas to one of the best small / midcap investors in the world, who happens to have a short temper. Yeah, good luck with that. Completely unforgiving environment – brutal place to work. - Hours are insane. It’s definitely a burn out shop. So what’s the play? Would you rather work in a super high octane role with ridiculous expectations, but the possibility (but no promise) of a massive pay out at age ~30 (running my own book and making millions a year if that pans out), or do you take a good, but less high octane role somewhere else and make more money in the immediate term, for less stress and in a better environment? I don’t know the answer to that question, and I thought looking around would clarify that. To answer your question, I think people tend to move around a lot for the most part – every 2-3 years seems typical before age 30-35.
Muddahudda Wrote: ------------------------------------------------------- > Bromion, try these:- > > http://www.selbyjennings.com/ > > Well placed in HF circles. Predominantly London > based but claim to have opps US/worldwide. > > > http://village.albourne.com/ > > You will have to sign up and then go to the job > centre. > > Both are crummy in terms of site navigation, > search functions (non-existent), but they do have > the positions & connections. Thanks.
Depends on the culture of the fund as well - mine encourages LT-employment, while others (not name calling, rhymes with Sh*tadel) has a revolving door policy. 2 yrs there and you are an old-timer.
mp2438 Wrote: ------------------------------------------------------- > Depends on the culture of the fund as well - mine > encourages LT-employment, while others (not name > calling, rhymes with Sh*tadel) has a revolving > door policy. 2 yrs there and you are an old-timer. Are you in Chicago? Have a friend who just left BoA for Citadel…
Citadel hired a ton of people this year for random new businesses: derivatives, investment banking, etc. On a side note, there were also a bunch of news stories about their department heads quitting…
Bromion, do you know who your target firms are & do you have contacts there? I can get both quite easily (possibly also find out who might be hiring if there has been recent turnover etc). If you are serious lets talk offline, this is a bit off piste for me.
mep_cfa’10 Wrote: ------------------------------------------------------- > mp2438 Wrote: > -------------------------------------------------- > ----- > > Depends on the culture of the fund as well - > mine > > encourages LT-employment, while others (not > name > > calling, rhymes with Sh*tadel) has a revolving > > door policy. 2 yrs there and you are an > old-timer. > > Are you in Chicago? Have a friend who just left > BoA for Citadel… Nope, NYC.
Muddahudda Wrote: ------------------------------------------------------- > Bromion, do you know who your target firms are & > do you have contacts there? I can get both quite > easily (possibly also find out who might be hiring > if there has been recent turnover etc). > > If you are serious lets talk offline, this is a > bit off piste for me. Hi Mudda, Please drop me a line at bromion15@gmail.com. Thanks.