Getting a Job in Hedge Funds: An Inside Look at How Funds by Adam Zoia

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By Adam Zoia

Getting a task in Hedge cash deals specified suggestion for these seeking to holiday into the hedge fund enterprise. With this booklet, you’ll research the place hedge cash characteristically search for new applicants, what kind of event is required to set your self up for a place, and what may be performed to enhance your possibilities of moving into a hedge fund. If you’re heavily contemplating a profession in hedge money, this booklet may help safe a place during this ecocnomic box.

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We estimate that as recently as three years ago only 20% of the recognizable hedge funds hired at this level. Today, we estimate that closer to 75% of those same funds bring on junior staffers. This is a new and still-evolving phenomenon that we expect will continue to impact the hiring process at this level. Although most hedge funds have no real hiring cycle, we have noticed that some have begun to make systematic year-on-year hiring plans the way leveraged buyout (LBO) funds do, but those are still a distinct minority.

Sell-side traders, such as those in investment banks, are historically in that flow of information, making them more valuable to a hedge fund. OUT OF PRIVATE EQUITY A new trend that we have seen developing recently is hedge funds hiring out of private equity funds (see Case Study 8). These individuals have typically completed investment banking or consulting programs and are in the middle of a two- to threeyear stint at a private equity fund. Instead of continuing on the traditional path to a career in private equity—which would mean going on to business school and then reentering private equity once they have their MBAs—we’ve seen these pre-MBA analysts making themselves available to hedge funds, which see them as more seasoned investors than those straight out of banking programs.

In addition to outlining the process, many of these former candidates in whose footsteps you want to follow give specific details about the questions they were asked and the scenarios they were presented. Case Study 1: Bulge-Bracket Banker Lands at a Distressed Debt Fund This person comes from a more diverse background but was able to get into a distressed debt fund. Although he did not major in finance as an undergraduate, he made good use of his summers and that helped him get into a top analyst training program.

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