30 June , 2009
One of the principles that I tell my friends when they ask me how to get a hedge fund job is thus: There are two ways to become a hedge fund analyst: 1. Get lucky or 2. Use your network. Now, you may be asking: Why would I be reading this blog if those were the only two ways to get a hedge fund job. Or better yet: Why would this nut job be writing about a topic that is effectively worthless?
First of all, I am going to show you a few ways to really work your network (no matter how small you may think it be) and two, I am going to show you how to improve your chances dramatically. We are counting cards here folks. As I have told many of you, if we posted an analyst job right now, we would receive well over 100 resumes. A day. For two weeks. No joke.
How do you distinguish yourself from the herd? Well. You are going to offer value. How? That is the point of this blog. I am going to show you exactly what you need to do and know when it comes to priming the pump that is the hiring instinct of hedge funds. Now again, I would rather not use blanket statements. There are some funds that really are the luck of the draw. That being said, none of these techniques I am going to post about will hurt you. As a matter of fact, they will help you immensely. Plus, even if you do not get the job, you will be regarded as a person that offers value. People, of all careers, like those kind of people.
In the next post, I am going to talk to the reader about how to get your foot in the door when you have no network or contacts to speak of. We will explore that concept for the next few weeks and from there expand our circle to encompass more avenues on getting hedge fund jobs.
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30 June , 2009
In response to a number of queries from my more popular blog, I have decided to start a blog on how to get a hedge fund job. Why do you ask? Well, for two reasons: 1) To maintain distinct brands (this one employment and the other blog case studies) and 2) Because I have a lot of people asking me (friends and readers a like) on the best way to break into the hedge fund industry and get a hedge fund job.
To familiarize my readers, I have worked at three distinct funds at this point in my career. Prior to that I worked in leveraged finance (all names, left unsaid). I always wanted a hedge fund job and after flaming out miserably on a number of early interviews, I decided to actually learn what it takes to succeed in the hedge fund interviewing process.
Now, I have met and know (personally and professionally) a number of hedge fund recruiters. This site, theoretically speaking, should enable the reader to avoid the hedge fund recruiter and go straight to the source. Now, as a disclaimer, and you know I love those, sometimes being the “Best in Show” of a hedge fund recruiter is a very good thing. They will show you the best opportunities, and many larger funds will only go through a recruiter. That may be so, but we are going to try to circumvent the process and get you where you need to be.
My ideas for this site: First, I want to focus on getting in the door or in other words, actually getting the hedge fund interview. Currently, given the state of financial careers, there is a signficant amount of supply versus demand for positions. Once you get your foot in the door, I want to talk about hedge fund interviewing, case studies, salary negotiations, etc.
As a caveat, and another disclaimer, in terms of hedge fund jobs, this site will focus on the front office aspect. I have a number of friends that run back and middle offices of hedge funds, and I hope to get them posting as well. In the meantime, the reader should assume that when I speak of hedge fund jobs, I am talking about front office finance jobs (trader, analyst, PM).
I am also talking anywhere from entry level hedge fund jobs to credit analyst jobs to portfolio manager jobs etc. Some of the techniques will be more suitable for certain positions. But what I hope to do is offer the best advice out there (there really is none) on how to get a hedge fund job.
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